Hello,
There are 3 homes holding an open house in Renton this Saturday.
Click Here To View Them.
Also so here is a list of open houses for Sunday.
Click Here To View Them.
These links will open a new window so you might need to hold down your "Ctrl" key when you click on it.
If there is any other areas you would like posted or email to you please let me know.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Friday, October 31, 2008
Thursday, October 30, 2008
Can I get help with my down payment?
Kids May Need Help With Home Purchase.
As lending guidelines tighten and home prices ease, more young adults may need help from parents, grandparents or relatives to assemble enough cash for the down payment and closing costs on a home purchase. If you’re willing to help, be aware of some significant tax breaks.The IRS says any taxpayer (you) can give up to $12,000 per year to any other taxpayer (your child), and the recipient won’t have to pay the federal gift tax on the amount. Another taxpayer (your spouse) can also give $12,000. In addition, if the recipient is married, you and your spouse can each give $12,000 to that person with no tax obligation. Bottom Line: That means two parents can give a married couple up to $48,000 per year ($12,000 x 4 gifts) before the gift tax kicks in. That would equal a 20% down payment on a $240,000 property. The gifts can also be repeated the next year, say, in December and January, to multiply the available tax-free down payment.If you choose to help your child, his or her lender will ask for a gift letter from you verifying that the amount is, in fact, a gift—not a loan that you expect to be repaid. (A loan reduces the ability of the borrower to qualify for a mortgage loan and other payments.)
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
As lending guidelines tighten and home prices ease, more young adults may need help from parents, grandparents or relatives to assemble enough cash for the down payment and closing costs on a home purchase. If you’re willing to help, be aware of some significant tax breaks.The IRS says any taxpayer (you) can give up to $12,000 per year to any other taxpayer (your child), and the recipient won’t have to pay the federal gift tax on the amount. Another taxpayer (your spouse) can also give $12,000. In addition, if the recipient is married, you and your spouse can each give $12,000 to that person with no tax obligation. Bottom Line: That means two parents can give a married couple up to $48,000 per year ($12,000 x 4 gifts) before the gift tax kicks in. That would equal a 20% down payment on a $240,000 property. The gifts can also be repeated the next year, say, in December and January, to multiply the available tax-free down payment.If you choose to help your child, his or her lender will ask for a gift letter from you verifying that the amount is, in fact, a gift—not a loan that you expect to be repaid. (A loan reduces the ability of the borrower to qualify for a mortgage loan and other payments.)
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Wednesday, October 29, 2008
Take the Stress Out of Homebuying
Buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.
1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the REALTOR® you chose is both highly skilled and a good fit with your personality.
2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer — you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.
3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home.
4. Accept that no house is ever perfect. If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.
5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.
6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.
7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate.
9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.
10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is to serve as a comfortable, safe place to live.
Call me. I have a great program that will let you look at all the homes on the NWMLS and let you save your favorites, see photos and much more.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the REALTOR® you chose is both highly skilled and a good fit with your personality.
2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer — you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.
3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home.
4. Accept that no house is ever perfect. If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.
5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.
6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.
7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate.
9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.
10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is to serve as a comfortable, safe place to live.
Call me. I have a great program that will let you look at all the homes on the NWMLS and let you save your favorites, see photos and much more.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Tuesday, October 28, 2008
Exterior Insulation and Finish Systems : EIFS
The following information about EIFS should prove to be useful. We hope that it helps you in determining what EIFS is, and what the potential challenges are with this product.
What is EIFS?
Exterior Insulation and Finish Systems (EIFS) are multi-layered exterior wall systems that are used on both commercial buildings and homes. EIFS were introduced in the U.S. almost 30 years ago and were first used on commercial buildings and then later on homes. EIFS typically consist of an insulation board made of polystyrene foam (which is secured to the exterior wall surface with an adhesive and/or mechanical attachments), a water-resistant base coat applied on top of the insulation and reinforced with fiberglass mesh, and a finish coat typically using acrylic co-polymer technology. This type of system is often referred to as artificial stucco.
The Potential Problem with EIFS
The potential problem with EIFS is that moisture can get trapped behind the highly water resistant material with no way out. This can cause the framing to rot and foster the growth of mold between the exterior and interior walls. Damp and rotting wood is also a prime target for subterranean termites. It should be stated that the potential for these conditions exist with any type of exterior siding product be it brick veneer, wood, or vinyl siding. The potential for this condition with EIFS however can be exacerbated by its superior water resistance. Once moisture gets in, regardless of its origin, it usually has no escape.
EIFS Challenges
The main locations where water tends to infiltrate into the framing structure of a building using an EIFS is around doors and windows, where the roof connects to the EIFS (roof flashing), and below extended exterior deck connections. Also, any moisture from within the home trying to find a path out will likely be thwarted by the EIFS. The EIFS industry has been plagued by class action, and individual lawsuits (particularly in humid climates). The public's confidence in the products have been shaken to say the least. The lawsuits contend that the problem is with the nature of the product and the manufacturers contend that sloppy installation and poor maintenance are the culprits. Regardless of who is "right", its clear that homes with EIFS require special scrutiny during inspection.
Sincerely, George Rinehart
Rinehart Inspection Services, LLC
email: g_rinehart@hotmail.com
phone: (206) 901-1549
web: http://www.rinehartinspections.com
What is EIFS?
Exterior Insulation and Finish Systems (EIFS) are multi-layered exterior wall systems that are used on both commercial buildings and homes. EIFS were introduced in the U.S. almost 30 years ago and were first used on commercial buildings and then later on homes. EIFS typically consist of an insulation board made of polystyrene foam (which is secured to the exterior wall surface with an adhesive and/or mechanical attachments), a water-resistant base coat applied on top of the insulation and reinforced with fiberglass mesh, and a finish coat typically using acrylic co-polymer technology. This type of system is often referred to as artificial stucco.
The Potential Problem with EIFS
The potential problem with EIFS is that moisture can get trapped behind the highly water resistant material with no way out. This can cause the framing to rot and foster the growth of mold between the exterior and interior walls. Damp and rotting wood is also a prime target for subterranean termites. It should be stated that the potential for these conditions exist with any type of exterior siding product be it brick veneer, wood, or vinyl siding. The potential for this condition with EIFS however can be exacerbated by its superior water resistance. Once moisture gets in, regardless of its origin, it usually has no escape.
EIFS Challenges
The main locations where water tends to infiltrate into the framing structure of a building using an EIFS is around doors and windows, where the roof connects to the EIFS (roof flashing), and below extended exterior deck connections. Also, any moisture from within the home trying to find a path out will likely be thwarted by the EIFS. The EIFS industry has been plagued by class action, and individual lawsuits (particularly in humid climates). The public's confidence in the products have been shaken to say the least. The lawsuits contend that the problem is with the nature of the product and the manufacturers contend that sloppy installation and poor maintenance are the culprits. Regardless of who is "right", its clear that homes with EIFS require special scrutiny during inspection.
Sincerely, George Rinehart
Rinehart Inspection Services, LLC
email: g_rinehart@hotmail.com
phone: (206) 901-1549
web: http://www.rinehartinspections.com
Saturday, October 25, 2008
Cash for properties schemes.
Questions from my blog readers.
Rayz said...
Looking at the current market trend, I’m afraid that a house I buy today will not be worth what I paid down the road. Right now I'm concerned whether I should play the waiting game some more. Also I would like to know how are these cash for properties schemes. Are they any good?
First I would like to thank everyone for stopping by and checking my blog. It was a little tuff getting started but my business strategy is to help people and the work will come. I didn’t buy my first home until I was 34 years old. I owned my own business for 10 years but was totally clueless on what was involved in buying a home. I was one of the lucky ones that happen to find a Realtor that cared about his clients. It wasn’t until I decided to become a Realtor and had finished my first year of work that I realized on just how much he had help us find the right home. I have heard many horror stories and have seen those who only care about the paycheck. I want to be the Realtor that helps his clients they way I was helped.
Now about the question. The market in our area was on overdrive. When the national average growth was 2.5% we were seeing 4.5% increase on home prices. Then lenders (the ones that only care about the paycheck) where telling clients that if you buy now we will get you money in 3 years to pay off your debts and keep your house payment the same for you. Well buying a property is an long term investment, you can't expect price boom in a year or two, the market will correct itself as it is doing now and things will get back to normal. Most Realtors believe that we are close to bottoming out in our area and I agree on that. We are fortunate with the area that we are living in. There are other areas getting a much larger down swing than what is going on here. Another large factor is that interest rates are still low. Now for an example say you want to pay around $3,000 a month on your home loan with everything included for taxes & etc. At 6% interest you’re looking at a loan amount of about $428,000 but if the interest goes up to 7% now to keep your payment at $3,000 you are looking at a loan of $382,000. You could wait to get a little better price but I don’t believe that home prices will drop over $45,000 to equal the change in the interest rates. True there is a lot more involved in setting your loan up with credit scores & down payments but I’m sure you get the main point.
Second on the cash for properties. There are a very small few, maybe 1% that this is a good idea for and even fewer that can qualify for it. The main goal here is to make that phone ring (only caring about that paycheck again). The nice thing for the people that run these ads are when someone calls them they know that person is looking to do something quickly. Now unhappily there are all kinds of persons in whatever business you’re doing and there are those who care and those who don’t. Even if you are “Upside down” on your home there are true Realtors that can help you. Sometimes it is not the answer you where looking for but there should always be a win for you and a win for me in anything we do.
I have wonderful tools that can help you be informed on what the market is doing today. If you would like to move forward on buying or selling a home please give me a call.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Rayz said...
Looking at the current market trend, I’m afraid that a house I buy today will not be worth what I paid down the road. Right now I'm concerned whether I should play the waiting game some more. Also I would like to know how are these cash for properties schemes. Are they any good?
First I would like to thank everyone for stopping by and checking my blog. It was a little tuff getting started but my business strategy is to help people and the work will come. I didn’t buy my first home until I was 34 years old. I owned my own business for 10 years but was totally clueless on what was involved in buying a home. I was one of the lucky ones that happen to find a Realtor that cared about his clients. It wasn’t until I decided to become a Realtor and had finished my first year of work that I realized on just how much he had help us find the right home. I have heard many horror stories and have seen those who only care about the paycheck. I want to be the Realtor that helps his clients they way I was helped.
Now about the question. The market in our area was on overdrive. When the national average growth was 2.5% we were seeing 4.5% increase on home prices. Then lenders (the ones that only care about the paycheck) where telling clients that if you buy now we will get you money in 3 years to pay off your debts and keep your house payment the same for you. Well buying a property is an long term investment, you can't expect price boom in a year or two, the market will correct itself as it is doing now and things will get back to normal. Most Realtors believe that we are close to bottoming out in our area and I agree on that. We are fortunate with the area that we are living in. There are other areas getting a much larger down swing than what is going on here. Another large factor is that interest rates are still low. Now for an example say you want to pay around $3,000 a month on your home loan with everything included for taxes & etc. At 6% interest you’re looking at a loan amount of about $428,000 but if the interest goes up to 7% now to keep your payment at $3,000 you are looking at a loan of $382,000. You could wait to get a little better price but I don’t believe that home prices will drop over $45,000 to equal the change in the interest rates. True there is a lot more involved in setting your loan up with credit scores & down payments but I’m sure you get the main point.
Second on the cash for properties. There are a very small few, maybe 1% that this is a good idea for and even fewer that can qualify for it. The main goal here is to make that phone ring (only caring about that paycheck again). The nice thing for the people that run these ads are when someone calls them they know that person is looking to do something quickly. Now unhappily there are all kinds of persons in whatever business you’re doing and there are those who care and those who don’t. Even if you are “Upside down” on your home there are true Realtors that can help you. Sometimes it is not the answer you where looking for but there should always be a win for you and a win for me in anything we do.
I have wonderful tools that can help you be informed on what the market is doing today. If you would like to move forward on buying or selling a home please give me a call.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Friday, October 24, 2008
7 Reasons Why Now Is A Great Time To Buy
Now truly is a great time to buy a home. If you--or someone you know--is ready to move up or become a first-time owner, if you plan to stay a few years and you've been waiting for the perfect time to buy--now is that time.
Here's why. Housing cycles cure themselves. Prices soften, inventories rise, savvy buyers snap up bargains, demand increases, and the market returns to normal. As buyers return that demand pushes home prices up and mortgage rates higher, according to housing economists and past history. Higher prices and higher rates mean waiting today costs you more tomorrow.
The secret is to buy while the headlines are gloomy, secure an affordable fixed-rate loan and enjoy the home you want to live in before the advantage of today's market passes you by. By taking a long-term view--as a home investment should be seen--you can weather temporarily lower prices in the area while the market corrects if you buy now with a fixed payment.
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Here's why. Housing cycles cure themselves. Prices soften, inventories rise, savvy buyers snap up bargains, demand increases, and the market returns to normal. As buyers return that demand pushes home prices up and mortgage rates higher, according to housing economists and past history. Higher prices and higher rates mean waiting today costs you more tomorrow.
The secret is to buy while the headlines are gloomy, secure an affordable fixed-rate loan and enjoy the home you want to live in before the advantage of today's market passes you by. By taking a long-term view--as a home investment should be seen--you can weather temporarily lower prices in the area while the market corrects if you buy now with a fixed payment.
Consider these reasons why our experience shows this is a great time to buy:
- Take your pick. Gone are the days when there were more buyers in the market than homes for sale. Then, options were few and many buyers felt they had to take what they could get whether or not it was the ideal home for them. Now, the reverse is true: There are lots of homes to choose from, and buyers can afford to be picky. Also buyers are no longer competing with property "flippers" and other investors in the marketplace.
- Do your homework. With more properties on the market, buyers no longer feel pressured to put an offer on a home before another buyer snaps it up. Instead of making a decision on the spot, buyers can actually spend quality time visiting several homes and make a decision on their own timetable.
- Make an offer. In the sizzling seller's market, buyers were outbidding one another--sometimes offering amounts thousands of dollars above the list price of the home they wanted. Today, buyers don't have to engage in bidding wars and--bonus--they're finding sellers more willing to entertain their offer.
- Negotiation encouraged. In the past, many buyers, striving to gain the upper hand in bidding battles, waived contingencies for home inspection, pest, roof or sewer inspections. Sellers were able to sell their homes "as is" to buyers willing to shoulder the cost of repairs. These days, however, more buyers are shopping for warranties and asking for inspections, and, if problems are uncovered, they can reasonably expect sellers to negotiate to get a closed sale.
- You can't beat the location. Want to live closer to work? In a better school district? Near the town center? In a larger--or smaller--home? You may be surprised at the abundance of possibilities out there that are a much better buy these days.
- Bargains available. Qualified first-time buyers, down-sizers, second-home buyers, rental investors and others can find bargains today--if you know where to look. Bargains are available from owner short sales, lender-owned foreclosures, builder close-outs, executive relocation properties, estate sales, even tax and condemnation sales. If you are looking for a below-market value, we can help.
- Affordable payments. Interest rates on a 30-year fixed-rate mortgage have been hovering near 6% this year. Compare that to the average interest rate 10 years ago on a 30-year fixed, which was 6.94%; 20 years ago, 10.34%; and 30 years ago, 9.64%. From an historical standpoint, today's interest rates look terrific. Combine low rates with low prices to get low payments, and you know why now is a great time to buy.
Lonnie Snyder
REALTOR®Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Tuesday, October 21, 2008
Information About Poly Piping
This is a newsletter with information about a specific piping known as poly piping. This will explain what it is, how to identify it, and whether or not it will fail. We hope this information is valuable for you.
Polybutylene is a form of plastic resin that was used extensively in the manufacture of water supply piping from 1978 until 1995. Due to the low cost of the material and ease of installation, polybutylene piping systems were viewed as "the pipe of the future" and were used as a substitute for traditional copper piping. It is most commonly found in the "Sun Belt" where residential construction was heavy through the 1980's and early-to-mid 90's, but it is also very common in the Mid Atlantic and Northwest Pacific states.
The piping systems were used for underground water mains and as interior water distribution piping. Industry experts believe it was installed in at least 6 million homes, and some experts indicate it may have been used in as many as 10 million homes. Most probably, the piping was installed in about one in every four or five homes built during the years in which the pipe was manufactured.
Exterior - Polybutylene underground water mains are usually blue, but may be gray or black (do not confuse black poly with polyethelene pipe). It is usually 1/2" or 1" in diameter, and it may be found entering your home through the basement wall or floor, concrete slab or coming up through your crawlspace; frequently it enters the home near the water heater. Your main shutoff valve is attached to the end of the water main. Also, you should check at the water meter that is located at the street, near the city water main. It is wise to check at both ends of the pipe because we have found cases where copper pipe enters the home, and poly pipe is at the water meter. Obviously, both pipes were used and connected somewhere underground.
Interior - Polybutylene used inside your home can be found near the water heater, running across the ceiling in unfinished basements, and coming out of the walls to feed sinks and toilets. Warning: In some regions of the country plumbers used copper "stub outs" where the pipe exits a wall to feed a fixture, so seeing copper here does not mean that you do not have poly.
While scientific evidence is scarce, it is believed that oxidants in the public water supplies, such as chlorine, react with the polybutylene piping and acetal fittings causing them to scale and flake and become brittle. Micro-fractures result, and the basic structural integrity of the system is reduced. Thus, the system becomes weak and may fail without warning causing damage to the building structure and personal property. It is believed that other factors may also contribute to the failure of polybutylene systems, such as improper installation, but it is virtually impossible to detect installation problems throughout an entire system.
Throughout the 1980's lawsuits were filed complaining of allegedly defective manufacturing and defective installation causing hundreds of millions of dollars in damages. Although the manufacturers have never admitted that poly is defective, they have agreed to fund the Class Action settlement with an initial and minimum amount of $950 million. You'll have to contact the appropriate settlement claim company to find out if you qualify under this settlement.
We hope this information is useful, and invite you to visit our website at http://www.rinehartinspections.com/ for further information about action items that need to be addressed in homes. Mention this newsletter and receive $100 off a full house inspection! We guarantee that we will be on the inspection at the time and day you need it or your inspection is free! (Major holidays excluded. Must be in daylight hours.)
Sincerely, George Rinehart
Rinehart Inspection Services, LLC
Polybutylene is a form of plastic resin that was used extensively in the manufacture of water supply piping from 1978 until 1995. Due to the low cost of the material and ease of installation, polybutylene piping systems were viewed as "the pipe of the future" and were used as a substitute for traditional copper piping. It is most commonly found in the "Sun Belt" where residential construction was heavy through the 1980's and early-to-mid 90's, but it is also very common in the Mid Atlantic and Northwest Pacific states.
The piping systems were used for underground water mains and as interior water distribution piping. Industry experts believe it was installed in at least 6 million homes, and some experts indicate it may have been used in as many as 10 million homes. Most probably, the piping was installed in about one in every four or five homes built during the years in which the pipe was manufactured.
Exterior - Polybutylene underground water mains are usually blue, but may be gray or black (do not confuse black poly with polyethelene pipe). It is usually 1/2" or 1" in diameter, and it may be found entering your home through the basement wall or floor, concrete slab or coming up through your crawlspace; frequently it enters the home near the water heater. Your main shutoff valve is attached to the end of the water main. Also, you should check at the water meter that is located at the street, near the city water main. It is wise to check at both ends of the pipe because we have found cases where copper pipe enters the home, and poly pipe is at the water meter. Obviously, both pipes were used and connected somewhere underground.
Interior - Polybutylene used inside your home can be found near the water heater, running across the ceiling in unfinished basements, and coming out of the walls to feed sinks and toilets. Warning: In some regions of the country plumbers used copper "stub outs" where the pipe exits a wall to feed a fixture, so seeing copper here does not mean that you do not have poly.
While scientific evidence is scarce, it is believed that oxidants in the public water supplies, such as chlorine, react with the polybutylene piping and acetal fittings causing them to scale and flake and become brittle. Micro-fractures result, and the basic structural integrity of the system is reduced. Thus, the system becomes weak and may fail without warning causing damage to the building structure and personal property. It is believed that other factors may also contribute to the failure of polybutylene systems, such as improper installation, but it is virtually impossible to detect installation problems throughout an entire system.
Throughout the 1980's lawsuits were filed complaining of allegedly defective manufacturing and defective installation causing hundreds of millions of dollars in damages. Although the manufacturers have never admitted that poly is defective, they have agreed to fund the Class Action settlement with an initial and minimum amount of $950 million. You'll have to contact the appropriate settlement claim company to find out if you qualify under this settlement.
We hope this information is useful, and invite you to visit our website at http://www.rinehartinspections.com/ for further information about action items that need to be addressed in homes. Mention this newsletter and receive $100 off a full house inspection! We guarantee that we will be on the inspection at the time and day you need it or your inspection is free! (Major holidays excluded. Must be in daylight hours.)
Sincerely, George Rinehart
Rinehart Inspection Services, LLC
Sunday, October 19, 2008
5 Questions Every Savvy Home Buyer Should Be Asking Now
Are you thinking about buying a home with current prices dropping to a 3 year low? Here are 5 questions that you can ask yourself to see where you stand.
- Is our rent equal to a loan payment? If you can afford to buy, it can give you one bonus that renting cannot—the lucrative tax breaks that come with owning a home:
* Deductions for payments of mortgage interest, loan discount points and real estate taxes.
* Home-office deductions for qualified owners.
* Deductions for expenses if you rent out your property.
* Home-sale capital-gains exclusion—profits up to $500,000 tax-free! - Are prices in our preferred area steady? In many areas of the country—even in areas with high foreclosure rates—there are neighborhoods where homes are holding their value or increasing in value while price decline is slowing.
- Will our equity go further where homes cost less? By moving to a place where homes are less expensive—and general living costs are lower—your money will go a lot further a lot longer.
- Will we live in this home for several years? Financial planners often advise buyers to think of real estate as you would any other large investment: The longer you hold your home before selling, the higher the probability you'll ride out any downturn and come out ahead on price when you decide to sell.
- Is this the perfect home for us? The schools are fantastic. The proximity to your office, gym, favorite stores can't be beat. You love the area and the home, and you won't find another one like it. In a better market, you would most likely have much more competition for that home.
If you have any questions or would just like to look around at the homes in your area I have a great program that will let you do that. Call or send a quick email to let me set up your personal web page to have full access to the homes on the NWMLS.
Lonnie Snyder
REALTOR®Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Friday, October 17, 2008
Why Smart Home Buyers Are No Longer Waiting To Buy
In today's new real estate market the time for hesitation is past. Now is the time for action. To take advantage of the new market, the reality is clear—don't wait:
- If you are ready to move to a home where you would rather live;
- If you can afford a conventional fixed-rate loan;
- If you plan to live there or own it for several years; now is the right time to move or buy a first home, second home or rental.
Waiting rarely pays off for many reasons.I will share with you what we've learned from experience.
Recent Sales
Homes are selling in our area. Yes, there is more inventory. Yes, time on market is longer. Yes, loan requirements are tighter. Yes, there are more short sales, bank-owned foreclosures and rental bargains that pull average prices lower. But look beyond national headlines. Our local housing market is not a “bust,” “collapse,” “meltdown,” or “crash” of zero sales. In reality, good properties—high-end, middle-market, even low-end—are selling (ask us for the latest area sales figures), especially with more sellers being realistic about their asking prices to compete. Waiting simply misses out on these good values.
New Buyers
Demand is increasing because today's market has attracted “new buyers,” such as pent-up “should-have-moved” locals who put off moving in recent years; boomers with equity looking for second homes; international buyers who see properties priced to sell and enjoy favorable exchange rates; first-timers with parent and grandparent support; resized new construction that's smaller, lower-priced; long-term investors with a goal to “buy low, sell high” years from now. These buyers are buying now.
Interest Rates
Even though rates are around historic lows, demand is what makes home prices stabilize, demand makes sellers less willing to negotiate and demand pushes interest rates higher. Higher interest rates eliminate savings from lower prices. For example, if you bought a $218,900 home 12 months ago at 5.5%, your monthly payment (principal and interest) would be $994 (assume 20% down payment, 30-year fixed-rate loan). If you bought the same home today at $197,010 (assume a 10% price drop) at 6% your monthly payment would be $994. In addition, temporary increases of jumbo loan limits to $729,750 (highest-price markets) expire December 31, 2008. By waiting, any savings from a lower price may be offset by higher financing costs.
Bottoms Up?
No one can pinpoint the “bottom of the market”—except historians with hindsight. Why? Housing markets don't “bottom.” Instead, after a period of price declines, leading indicators gradually correct: Transaction volumes increase, days on market decline, prices become steady, inventory sells off, the range between list price and sales price shrinks, builders withdraw incentives as land prices and material costs rise. Indicators reflect the rebound as the housing market adjusts—but the best properties are already gone.
Simply put, the best time to buy is now, as long as you're buying the right home, at the right price and on the right terms. Call me.
Lonnie Snyder
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Wednesday, October 15, 2008
Interested In Purchasing A Short Sale?
A big part of my job is matching sellers with buyers. Be sure to call me if you're looking to buy a short-sale home!
Short-Sale Process Requires Professional Help
Conducting a short sale is not a simple process, as it requires negotiations with the lender (often more than one lender is involved) as well as the buyer, who may not understand the unique intricacies of the process. That's where my expertise becomes essential. We understand the complexities and critical timing of short-sale procedures and can guide you--whether you want to sell your property as a short sale or you're interested in purchasing a short sale. Please feel free to give me a call for more information. We'll be happy to discuss all your options!
Short Sale Beats Foreclosure On Credit Report
A foreclosure is a court settlement process involving legal action and possible attorney fees. A short sale, on the other hand, is a negotiated settlement with the lender--no attorneys required. Both show up on the borrower's credit profile, but the difference between a foreclosure and a short sale is the difference between broken credit and badly dented credit. The "short sale" consumer has better options sooner in terms of buying another home, qualifying for loans or credit cards, securing reasonable interest rates, finding rental housing, even applying for insurance.
Often Lenders Prefer Short Sales To Foreclosure
Foreclosing is an expensive, time-consuming process for lenders (costing an average $50,000 per property, according to a 2007 report by the Joint Economic Committee of Congress). In a foreclosure, the lender sells the property at auction--which may also result in lower net than the outstanding mortgage--or repossesses and sells the property as "lender owned" real estate, which is a "non-performing asset" that negatively impacts the lender's ability to make loans. In short, lenders want your money not your home.
You Need An Offer To Get Short-Sale Approval
Lenders generally do not "pre-approve" borrowers to conduct a short sale. Instead, the seller-borrower finds a buyer, who makes an offer that is presented as part of a short-sale package for the lender's consideration. The package will include information such as the purchase contract, an estimate of the net from sale, a complete seller's financial disclosure and a hardship letter stating why the seller can no longer make payments. The lender often requires other information as well.If the lender is open to a short sale, their loss mitigation department orders a Broker's Price Opinion (BPO), asking a knowledgeable real estate professional to render an opinion on the market value of the property (by looking at sold prices of comparable properties, the cost of making repairs and any other factors that might impact the property's value).Assuming everything is to the lender's satisfaction, if the buyer's offer meets or exceeds the BPO, chances are the lender will accept the short-sale offer and "forgive" the difference between the offer and the outstanding mortgage.
New Law Waives Income Tax On Forgiven Debt
Until recently, mortgage debt forgiven by a lender was considered to be part of the borrower's taxable income, meaning the taxpayer would have to pay income taxes on the forgiven amount. That rule has changed: On December 20, 2007 President Bush signed into law the Mortgage Forgiveness Debt Relief Act of 2007, which excludes forgiven mortgage debt from taxation. The exclusion only applies to a taxpayer's principal residence and to indebtedness forgiven between January 1, 2007 and January 1, 2010. The excludable amount of debt is limited to $2 million. Other restrictions apply; consult a knowledgeable tax professional for all the details.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Short-Sale Process Requires Professional Help
Conducting a short sale is not a simple process, as it requires negotiations with the lender (often more than one lender is involved) as well as the buyer, who may not understand the unique intricacies of the process. That's where my expertise becomes essential. We understand the complexities and critical timing of short-sale procedures and can guide you--whether you want to sell your property as a short sale or you're interested in purchasing a short sale. Please feel free to give me a call for more information. We'll be happy to discuss all your options!
Short Sale Beats Foreclosure On Credit Report
A foreclosure is a court settlement process involving legal action and possible attorney fees. A short sale, on the other hand, is a negotiated settlement with the lender--no attorneys required. Both show up on the borrower's credit profile, but the difference between a foreclosure and a short sale is the difference between broken credit and badly dented credit. The "short sale" consumer has better options sooner in terms of buying another home, qualifying for loans or credit cards, securing reasonable interest rates, finding rental housing, even applying for insurance.
Often Lenders Prefer Short Sales To Foreclosure
Foreclosing is an expensive, time-consuming process for lenders (costing an average $50,000 per property, according to a 2007 report by the Joint Economic Committee of Congress). In a foreclosure, the lender sells the property at auction--which may also result in lower net than the outstanding mortgage--or repossesses and sells the property as "lender owned" real estate, which is a "non-performing asset" that negatively impacts the lender's ability to make loans. In short, lenders want your money not your home.
You Need An Offer To Get Short-Sale Approval
Lenders generally do not "pre-approve" borrowers to conduct a short sale. Instead, the seller-borrower finds a buyer, who makes an offer that is presented as part of a short-sale package for the lender's consideration. The package will include information such as the purchase contract, an estimate of the net from sale, a complete seller's financial disclosure and a hardship letter stating why the seller can no longer make payments. The lender often requires other information as well.If the lender is open to a short sale, their loss mitigation department orders a Broker's Price Opinion (BPO), asking a knowledgeable real estate professional to render an opinion on the market value of the property (by looking at sold prices of comparable properties, the cost of making repairs and any other factors that might impact the property's value).Assuming everything is to the lender's satisfaction, if the buyer's offer meets or exceeds the BPO, chances are the lender will accept the short-sale offer and "forgive" the difference between the offer and the outstanding mortgage.
New Law Waives Income Tax On Forgiven Debt
Until recently, mortgage debt forgiven by a lender was considered to be part of the borrower's taxable income, meaning the taxpayer would have to pay income taxes on the forgiven amount. That rule has changed: On December 20, 2007 President Bush signed into law the Mortgage Forgiveness Debt Relief Act of 2007, which excludes forgiven mortgage debt from taxation. The exclusion only applies to a taxpayer's principal residence and to indebtedness forgiven between January 1, 2007 and January 1, 2010. The excludable amount of debt is limited to $2 million. Other restrictions apply; consult a knowledgeable tax professional for all the details.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Monday, October 13, 2008
An Investment alert.
If you're planning to buy investment property and financing it through a lender who sells to Fannie Mae, keep the date December 1st in mind. Nail down your mortgage commitments quickly -- in the next six weeks if you can.
That because Fannie -- who's traditionally been a key source of funding -- plans to load on extra fees across the board for investor loans purchased after December 1st because of market conditions. Freddie Mac is imposing similar fees, but its increases take effect November 7th.
Making things even tougher, some large private mortgage insurers plan to stop underwriting investor loans altogether, effectively cutting off financing support for low-down payment, high leverage rental home deals, no matter where the property is located.
Fannie's new fees will hit the full range of investors, from those with low down payments to those who are able to put down substantial cash. As of December 1, investor applications where the down payment is between 10 and 15 percent, can expect a 3.75 point adverse market fee -- that's up from two and a half points currently.
Loans where the investor put down 20 to 25 percent will be subject to a three point add- on, and even investors making hefty down payments of 40 percent or more will have to pay one and three quarter point add-ons.
The new fees come on top of earlier Fannie Mae restrictions, including limiting investor applicants to no more than four rental properties, plus a variety of restrictions on condos, including bans on mortgages in projects where more than 49 percent of the units are owned by investors.
FHA just announced a new rule change involving conversions of homes into rentals that you ought to know about as well. Though not aimed at bona fide investors, the policy change prohibits consideration of rental income on applications where an owner of an existing home proposes to acquire another unit as a principal residence using FHA financing while renting out the first home.
In a directive to lenders, FHA said it wants to avoid situations where home owners factor rental income from a vacated unit into their applications, and then don't -- or can't -- come up with the rent money needed to support the vacated house, which may then go into foreclosure.
FHA announced two key exceptions to the new policy: Relocations required by an employer where the applicant can show that there's already a one-year lease on the vacated home, or where applicants have at least a 25 percent equity stake in the property they are leaving behind.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
That because Fannie -- who's traditionally been a key source of funding -- plans to load on extra fees across the board for investor loans purchased after December 1st because of market conditions. Freddie Mac is imposing similar fees, but its increases take effect November 7th.
Making things even tougher, some large private mortgage insurers plan to stop underwriting investor loans altogether, effectively cutting off financing support for low-down payment, high leverage rental home deals, no matter where the property is located.
Fannie's new fees will hit the full range of investors, from those with low down payments to those who are able to put down substantial cash. As of December 1, investor applications where the down payment is between 10 and 15 percent, can expect a 3.75 point adverse market fee -- that's up from two and a half points currently.
Loans where the investor put down 20 to 25 percent will be subject to a three point add- on, and even investors making hefty down payments of 40 percent or more will have to pay one and three quarter point add-ons.
The new fees come on top of earlier Fannie Mae restrictions, including limiting investor applicants to no more than four rental properties, plus a variety of restrictions on condos, including bans on mortgages in projects where more than 49 percent of the units are owned by investors.
FHA just announced a new rule change involving conversions of homes into rentals that you ought to know about as well. Though not aimed at bona fide investors, the policy change prohibits consideration of rental income on applications where an owner of an existing home proposes to acquire another unit as a principal residence using FHA financing while renting out the first home.
In a directive to lenders, FHA said it wants to avoid situations where home owners factor rental income from a vacated unit into their applications, and then don't -- or can't -- come up with the rent money needed to support the vacated house, which may then go into foreclosure.
FHA announced two key exceptions to the new policy: Relocations required by an employer where the applicant can show that there's already a one-year lease on the vacated home, or where applicants have at least a 25 percent equity stake in the property they are leaving behind.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Thursday, October 09, 2008
Top 10 home maintenance tips for the fall
Top 10 home maintenance tips for the fall
Well fall is here and time to think about getting your home ready for winter. Fall maintenance is an important homeowner duty because it helps make homes more energy efficient during the winter months, and will safeguard homes against potential seasonal 'disasters' such as leaking roofs or home fires due to neglected chimneys. Here are ten tips to a safer warmer winter.
TIP #1 Check the heating system. Check the filter, pilot light and burners in a system fueled by gas or oil. Fireplaces, boilers, water heaters, space heaters and wood burning stoves should also be serviced every year. Filter changing is something homeowners can and should do themselves at least once every 2 months. Have the specialist inspecting your unit show you how to change the filter. Clean ducts in the heating system. Clean and vacuum dust from vents, baseboard heaters and cold air returns. Dust build-up in ducts is a major cause of indoor pollutants. Ducts should be professionally cleaned about every three years.
TIP #2 Have the chimney inspected by a qualified chimney professional. Chimneys should be checked and cleaned, if necessary, on an annual basis. If you are using a wood stove this season, be sure that the stovepipe was installed correctly according to the manufacturer's recommendations and local codes. If there is any doubt, a building inspector or fire official can determine whether the system is properly installed. If you have a chimney that will not be used, consider having it sealed shut.
TIP #3 Test fire alarms and smoke and carbon monoxide detectors. Often alarms and detectors go unattended. Batteries should be checked every six months to ensure that they're working. Vacuum out the dust.
TIP #4 Remove excess leaves and damaged branches surrounding the house. Dead branches have the potential to break and fall, ruining roofs, decks, vehicles or people.
TIP #5 Maintain gutters. Remove all debris that can slow or impede the ability of the water to drain effectively from the roof. Trapped water can be destructive not only to the gutters themselves but to the adjoining roof as well. Make sure gutter water drains away from your home.
TIP #6 Inspect the roof. Look for damaged or loose shingles, gaps in the flashing at joints with siding, vents and flues, as well as damaged mortar around the chimney.
TIP #7 Inspect exterior walls, doors and windows. Check walls and window sills for damage such as cracks, gaps, loose or crumbling mortar, along with splitting and decaying wood. Caulk exterior joints around windows and doors, which helps keep the home weather tight and lower heating bills. Check windows and doors to make sure locks work properly and that they are in good condition. Clean tracks and lubricate hinges. Repair or replace any cracked windows.
TIP #8 Maintain steps and handrails. Repair broken steps and secure loose banisters and handrails. Broken steps can cause a dangerous fall. Similarly, a person slipping will grab a handrail for support.
TIP #9 Inspect the attic and basement or crawlspace. Insulate Voids in the Attic - The entire attic floor above a living space should be insulated with at least 6 inches, except around electrical fixtures such as recessed lights that aren't rated for contact with insulation. Damp basements and crawl spaces can become mold and mildew problems. Watch for leaks from your hot water heater, plumbing system and seeping rain water. Locate and maintain a clear access to your main water shut off valve. If you have a sump pump, test, clean and lubricate it.
TIP #10 Shut down sprinkler systems and outside faucets. Homeowners can shut down outside faucets, while the underground sprinkler system weatherizing is best performed by industry professionals to prevent cracked pipes by having the system flushed before the cold sets in.
There's something for everyone in Renton. And here at the Renton Real Estate Blog it is our effort to keep you up to date, informed not only what is happening in Renton Real Estate but also in the community.
To see the latest news and announcements about exciting events and Real Estate opportunities in the City, have a look here
If you search Google for Renton Real Estate you will find many blog and other web sites that bring out the interesting facts, not only about Renton Real Estate blog, but about the community and it'd unique features. For example...
Discover the magic of Renton and enjoy the convenient, spectacular location, outstanding value, hometown hospitality, and business-friendly environment.
Nestled on the south shore of beautiful Lake Washington, Renton is centrally located in the heart of the Puget Sound area - just 10 minutes from SeaTac International Airport, Seattle and Bellevue. Renton also offers terrific views of the Olympics, the Cascades and Mount Rainier.
Get the best of the Northwest, without high prices, hassle, traffic and expensive parking!
Come visit us
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: Snyder@KW.com
WebsiteBlogsite:
Lonnie Snyder is a full time real estate agentand REALTOR® with Keller Williams Realty specializingin Residential Real Estate for buyers and sellersin Washington's Kent, Renton, Newcastle and South Bellevue.
Well fall is here and time to think about getting your home ready for winter. Fall maintenance is an important homeowner duty because it helps make homes more energy efficient during the winter months, and will safeguard homes against potential seasonal 'disasters' such as leaking roofs or home fires due to neglected chimneys. Here are ten tips to a safer warmer winter.
TIP #1 Check the heating system. Check the filter, pilot light and burners in a system fueled by gas or oil. Fireplaces, boilers, water heaters, space heaters and wood burning stoves should also be serviced every year. Filter changing is something homeowners can and should do themselves at least once every 2 months. Have the specialist inspecting your unit show you how to change the filter. Clean ducts in the heating system. Clean and vacuum dust from vents, baseboard heaters and cold air returns. Dust build-up in ducts is a major cause of indoor pollutants. Ducts should be professionally cleaned about every three years.
TIP #2 Have the chimney inspected by a qualified chimney professional. Chimneys should be checked and cleaned, if necessary, on an annual basis. If you are using a wood stove this season, be sure that the stovepipe was installed correctly according to the manufacturer's recommendations and local codes. If there is any doubt, a building inspector or fire official can determine whether the system is properly installed. If you have a chimney that will not be used, consider having it sealed shut.
TIP #3 Test fire alarms and smoke and carbon monoxide detectors. Often alarms and detectors go unattended. Batteries should be checked every six months to ensure that they're working. Vacuum out the dust.
TIP #4 Remove excess leaves and damaged branches surrounding the house. Dead branches have the potential to break and fall, ruining roofs, decks, vehicles or people.
TIP #5 Maintain gutters. Remove all debris that can slow or impede the ability of the water to drain effectively from the roof. Trapped water can be destructive not only to the gutters themselves but to the adjoining roof as well. Make sure gutter water drains away from your home.
TIP #6 Inspect the roof. Look for damaged or loose shingles, gaps in the flashing at joints with siding, vents and flues, as well as damaged mortar around the chimney.
TIP #7 Inspect exterior walls, doors and windows. Check walls and window sills for damage such as cracks, gaps, loose or crumbling mortar, along with splitting and decaying wood. Caulk exterior joints around windows and doors, which helps keep the home weather tight and lower heating bills. Check windows and doors to make sure locks work properly and that they are in good condition. Clean tracks and lubricate hinges. Repair or replace any cracked windows.
TIP #8 Maintain steps and handrails. Repair broken steps and secure loose banisters and handrails. Broken steps can cause a dangerous fall. Similarly, a person slipping will grab a handrail for support.
TIP #9 Inspect the attic and basement or crawlspace. Insulate Voids in the Attic - The entire attic floor above a living space should be insulated with at least 6 inches, except around electrical fixtures such as recessed lights that aren't rated for contact with insulation. Damp basements and crawl spaces can become mold and mildew problems. Watch for leaks from your hot water heater, plumbing system and seeping rain water. Locate and maintain a clear access to your main water shut off valve. If you have a sump pump, test, clean and lubricate it.
TIP #10 Shut down sprinkler systems and outside faucets. Homeowners can shut down outside faucets, while the underground sprinkler system weatherizing is best performed by industry professionals to prevent cracked pipes by having the system flushed before the cold sets in.
There's something for everyone in Renton. And here at the Renton Real Estate Blog it is our effort to keep you up to date, informed not only what is happening in Renton Real Estate but also in the community.
To see the latest news and announcements about exciting events and Real Estate opportunities in the City, have a look here
If you search Google for Renton Real Estate you will find many blog and other web sites that bring out the interesting facts, not only about Renton Real Estate blog, but about the community and it'd unique features. For example...
Discover the magic of Renton and enjoy the convenient, spectacular location, outstanding value, hometown hospitality, and business-friendly environment.
Nestled on the south shore of beautiful Lake Washington, Renton is centrally located in the heart of the Puget Sound area - just 10 minutes from SeaTac International Airport, Seattle and Bellevue. Renton also offers terrific views of the Olympics, the Cascades and Mount Rainier.
Get the best of the Northwest, without high prices, hassle, traffic and expensive parking!
Come visit us
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
Email: Snyder@KW.com
WebsiteBlogsite:
Lonnie Snyder is a full time real estate agentand REALTOR® with Keller Williams Realty specializingin Residential Real Estate for buyers and sellersin Washington's Kent, Renton, Newcastle and South Bellevue.
Wednesday, October 08, 2008
Indoor air quality
Air Quality
The following information on air quality is vital to the knowledge base for anyone who owns a home or is selling or buying. We appreciate the opportunity to share the information with you, and hope you gain perspective on air quality.
Indoor air quality
One sure path to energy efficiency in houses is eliminating air leaks. If you cut down the amount of air that has to be heated and cooled, you cut your utility bill substantially. But plugging up all those air leaks means less fresh air inside and this has brought on other problems.
One of the first to be identified was elevated concentrations of volatile organic compounds in the air. Commonly called VOC's, these compounds are used in the manufacture of the many synthetic building products used in most new houses today, including carpeting, flooring, paint, cabinetry, countertops, and the structural framework itself. Hundreds of off-gassing VOC's have been identified, but the one that has captured the most attention is formaldehyde. It is a potent eye and nose irritant and causes respiratory effects. It is also classified by the US Government Environmental Protection Agency as a probable human carcinogen.
EnviroCheck Indoor Air Quality
In response to the concerns raised by health officials and the public over the last fifteen years, manufacturers of some building materials and furnishings have altered their chemical formulations, significantly reducing the amount of VOC's off gassing from their products.
A brand new house will still have a significant amount of VOC's in the air because the rate at which the VOC's off-gas is highest initially. This phenomenon accounts for the "new house smell" that most new house buyers experience. Delaying a move-in and airing out a house by opening all the windows and running all the exhaust fans will benefit the occupants, even if this is done for only two days, advised John Girman, Director of the Center for Analysis and Studies for the Indoor Environmental Division of the US Government Environmental Protection Agency.
What Causes Poor Indoor Air Quality?
Continuing to keep the windows open and ventilating the house for several days to several weeks, if weather permits, can also be beneficial, added Al Hodgson of Lawrence Berkeley National Laboratory in Berkeley, California, who has been studying indoor air quality for the last 18 years. After the first month or so, the rate at which the VOC's off gas from building materials may fall off, but Hodgson's research indicates that the off-gassing phenomenon will continue at a slow and steady pace for months or even years. Hodgson measured the indoor air quality in eleven new, but unoccupied houses one to two months after their completion. Some were monitored over a period of about nine months. Overall he found that the concentrations of VOC's in the houses were not "alarming," although the concentrations of some compounds were high enough to produce an odor. The levels of formaldehyde were too low to have a smell, but high enough to cause discomfort in some individuals.
Although the level of VOC's in new houses does fall off over time, buyers can reduce it at the outset by their selection of finishes. Hodgson's research has shown while carpets are generally low emitters of VOC's, a reasonable quality, medium-grade, nylon, certified green label carpet may emit less than the basic grade carpet that most builders offer as standard. Installing the carpet with tack strips instead of an adhesive eliminates a potential VOC source altogether. Synthetic fiber carpet padding emits less than the rebonded padding that most production builders provide. Hodgson's "certified green label carpet" refers to the green and white Carpet and Rug Institute emission test sticker found on carpeting that meets their emission standard. Their testing program was established after sensational stories about "killer carpets" appeared in newspapers and TV news programs in the early nineties. In a New England lab, mice were exposed to carpet samples and subsequently died. Scientists in other labs including the EPA were never able to replicate these results and the reason for the mice's demise remains unclear. After the Carpet and Rug Institute started its carpet- testing program, it raised the emission standards, which has further reduced carpet emissions. Even so, carpeting can still have an odor that makes people think that they are being exposed to something awful, Hodgson observed. Vinyl flooring is a stronger emitter than carpet, but it too should not be a cause for concern, Hodgson said. The oil-based alkyd and water-based latex paints used in most houses are another source of VOC's. The alkyds, which create a harder, more washable surface, are usually used for bathrooms, kitchens, and the trim around doors, windows and baseboards. They produce a terrible smell and emit hundreds of VOC compounds, but these are almost entirely dissipated after about 48 hours, said John Chang, of the EPA labs in Triangle Park, North Carolina. The latex paints have a different smell and emit only four or five VOC compounds, but these continue to off gas for days and weeks after the paint is dry. "Low VOC" latex paints are now available, but some of these emit formaldehyde and buyers should check the paint emission data, he advised. Hodgson is currently studying the man-made wood products used in residential construction because most of them contain formaldehyde, and formaldehyde concentrations in the indoor air of new houses have been found to be higher than in other building types. Large quantities of these wood products including cabinet materials, doors, door and window trim and baseboards are found in the finished space of new houses. Man-made wood products are also used extensively in their structural framework. Hodgson is looking at the emissions of formaldehyde and VOC's from each product as well as the amount of exposed surface of each product. He is finding that bare surfaces of wood products can have relatively high emissions, but that surfaces with laminate and vinyl finishes generally have low emissions.
Information
This newsletter is for informational purposes only. We do not recommend any other company or entity.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
The following information on air quality is vital to the knowledge base for anyone who owns a home or is selling or buying. We appreciate the opportunity to share the information with you, and hope you gain perspective on air quality.
Indoor air quality
One sure path to energy efficiency in houses is eliminating air leaks. If you cut down the amount of air that has to be heated and cooled, you cut your utility bill substantially. But plugging up all those air leaks means less fresh air inside and this has brought on other problems.
One of the first to be identified was elevated concentrations of volatile organic compounds in the air. Commonly called VOC's, these compounds are used in the manufacture of the many synthetic building products used in most new houses today, including carpeting, flooring, paint, cabinetry, countertops, and the structural framework itself. Hundreds of off-gassing VOC's have been identified, but the one that has captured the most attention is formaldehyde. It is a potent eye and nose irritant and causes respiratory effects. It is also classified by the US Government Environmental Protection Agency as a probable human carcinogen.
EnviroCheck Indoor Air Quality
In response to the concerns raised by health officials and the public over the last fifteen years, manufacturers of some building materials and furnishings have altered their chemical formulations, significantly reducing the amount of VOC's off gassing from their products.
A brand new house will still have a significant amount of VOC's in the air because the rate at which the VOC's off-gas is highest initially. This phenomenon accounts for the "new house smell" that most new house buyers experience. Delaying a move-in and airing out a house by opening all the windows and running all the exhaust fans will benefit the occupants, even if this is done for only two days, advised John Girman, Director of the Center for Analysis and Studies for the Indoor Environmental Division of the US Government Environmental Protection Agency.
What Causes Poor Indoor Air Quality?
Continuing to keep the windows open and ventilating the house for several days to several weeks, if weather permits, can also be beneficial, added Al Hodgson of Lawrence Berkeley National Laboratory in Berkeley, California, who has been studying indoor air quality for the last 18 years. After the first month or so, the rate at which the VOC's off gas from building materials may fall off, but Hodgson's research indicates that the off-gassing phenomenon will continue at a slow and steady pace for months or even years. Hodgson measured the indoor air quality in eleven new, but unoccupied houses one to two months after their completion. Some were monitored over a period of about nine months. Overall he found that the concentrations of VOC's in the houses were not "alarming," although the concentrations of some compounds were high enough to produce an odor. The levels of formaldehyde were too low to have a smell, but high enough to cause discomfort in some individuals.
Although the level of VOC's in new houses does fall off over time, buyers can reduce it at the outset by their selection of finishes. Hodgson's research has shown while carpets are generally low emitters of VOC's, a reasonable quality, medium-grade, nylon, certified green label carpet may emit less than the basic grade carpet that most builders offer as standard. Installing the carpet with tack strips instead of an adhesive eliminates a potential VOC source altogether. Synthetic fiber carpet padding emits less than the rebonded padding that most production builders provide. Hodgson's "certified green label carpet" refers to the green and white Carpet and Rug Institute emission test sticker found on carpeting that meets their emission standard. Their testing program was established after sensational stories about "killer carpets" appeared in newspapers and TV news programs in the early nineties. In a New England lab, mice were exposed to carpet samples and subsequently died. Scientists in other labs including the EPA were never able to replicate these results and the reason for the mice's demise remains unclear. After the Carpet and Rug Institute started its carpet- testing program, it raised the emission standards, which has further reduced carpet emissions. Even so, carpeting can still have an odor that makes people think that they are being exposed to something awful, Hodgson observed. Vinyl flooring is a stronger emitter than carpet, but it too should not be a cause for concern, Hodgson said. The oil-based alkyd and water-based latex paints used in most houses are another source of VOC's. The alkyds, which create a harder, more washable surface, are usually used for bathrooms, kitchens, and the trim around doors, windows and baseboards. They produce a terrible smell and emit hundreds of VOC compounds, but these are almost entirely dissipated after about 48 hours, said John Chang, of the EPA labs in Triangle Park, North Carolina. The latex paints have a different smell and emit only four or five VOC compounds, but these continue to off gas for days and weeks after the paint is dry. "Low VOC" latex paints are now available, but some of these emit formaldehyde and buyers should check the paint emission data, he advised. Hodgson is currently studying the man-made wood products used in residential construction because most of them contain formaldehyde, and formaldehyde concentrations in the indoor air of new houses have been found to be higher than in other building types. Large quantities of these wood products including cabinet materials, doors, door and window trim and baseboards are found in the finished space of new houses. Man-made wood products are also used extensively in their structural framework. Hodgson is looking at the emissions of formaldehyde and VOC's from each product as well as the amount of exposed surface of each product. He is finding that bare surfaces of wood products can have relatively high emissions, but that surfaces with laminate and vinyl finishes generally have low emissions.
Information
This newsletter is for informational purposes only. We do not recommend any other company or entity.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
Wednesday, October 01, 2008
Do I quality for a tax credit
Lot of persons want to know if they should buy now. I say yes. Home prices in Renton are at a 3 year low. We have not see price drops like other places in the nation but there has been about a 6% drop. True it is harder to get a loan but if you really want to stop paying rent and buy your own home there are steps we can do to make that happen.
First Time Home Buyers all do have the extra benefit of the new tax credit. This tax credit is due to the passage of HR 3221. The Housing and Economic Recovery Act of 2008. If you or someone you know has been considering buying a home, this benefit is worth considering
What can you do with a $7500 interest free loan? Here are a few ideas:
Fund an IRA.
Pay off a credit card.
Fund an emergency reserve savings account (interest bearing.)
Who Qualifies?
* Homebuyers who have not owned a home in the past three years.
* FTHB's who purchased a principal residence between April 9, 2008 and July 1, 2009.
* Maximum credit is 10% of the sales price up to $7,500.
* Tax credit is repaid over 15 years to the IRS.
* This is realty an interest free loan from Uncut Sam. If the home is sold, the tax credit balance is repaid at that time.
Who Doesn't Qualify?
* Purchases from a person who is related to the homebuyer.
* If the property is sold or ceases to become a principal residence before the end of tax year.
* If modified Adjusted Gross income exceeds $95,000 (individual) or $170,000 (joint). Credit phases out for individual AGI between $75,000 - $95,000 and between $150,000 - $170,000 for joint filers.
Always check with your Tax Advisor.
Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/
Blogsite: http://renton-real-estate.blogspot.com/
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.
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