How To Save As Much as $10k By Winterizing Your Property

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With today’s real estate market as ripe for activity as it is, many people are getting into second homes, vacation places and rental or investment properties. In fact, for those that already have these additional properties – it’s a great time to own them as values are finally starting to rise on them again with our market leaning toward being a sellers’ market.

But one thing you should know as the owner of a secondary property is that come wintertime it is critical to winterize the home or else be prepared to suffer the consequences. As you can see in the video, I’ve shared with you a sample pipe that has ruptured as a result of the water main not being turned off during the winter.

What happens is that with lack of use there is standing water left in the pipelines, leading to the risk (and very often occurrence) of water in pipes to freeze. As the ice expands on such a vast scale as throughout the entire house, pipes then literally rupture and crack open. Though the root cause of the problem takes place early on in the winter, visible damage doesn’t really occur until later on when things start to warm up again.

Many times we hear of property owners that return to their homes only to find that their pipes had ruptured and there is water damage all over the place. The repair for this sort of damage is very extensive and time-consuming, costing as much as $10,000 to replace the pipelines.

The simplest and easiest thing you can do to avoid all this is to turn off the water main switch before the cold winter sets in. That is all it takes.

Other winterization tips include:

• Cleaning out fall leaves debris from gutters
• Sealing cracks and crevices in your driveway to avoid salt and grime from corroding the driveway during winter months
• Installing snow stakes to help avoid damage from snowplowing
• Double checking door and window seals to trap in as much heat as possible

We hope you find these tips useful and as always, please do not hesitate to contact us for your real estate needs!

Hurricane Sandy and Your Sump Pump

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As the East Coast has had torrential downpours due to Hurricane Sandy this week, sump pumps have been working overtime to keep millions of basements from flooding. A working sump pump can save you from thousands of dollars in damages and the headache of a flooded basement. Let’s take a look at how the sump pump works and what you can do to make sure that it will continue to work.

How Sump Pumps Work

A sump pump is a small pump installed in the lowest part of a basement or crawlspace. Its job is to help keep the area under the building dry and prevent it from flooding. As water flows through drains, the sump pump pumps that water away from the building.

Sump Pump Maintenance

The number one rule with sump pump maintenance is to make sure your pump is turned on! The pump will do no good in protecting your basement from water if it is off. By routinely taking a few minutes to make sure your sump pump is in good working order, especially before a storm approaches, you can keep your basement dry. Once you verify that the pump is turned on, check the cord for any wear-and-tear and the outlet to make sure it is working. Next, ensure that the pump is upright. If the pump is tilted to one side or another, it can jam and cease to work. Test out your sump pump. Pour a bucket of water into the pit and, if the pump does not quickly drain the water, have it serviced.  After you have done this, clean the grate on the bottom of the pump and remove any debris in the vent hole. Finally, ensure that the outlet pipes are tight joined together and draining out at least 20 feet from your foundation.

By doing just a little extra maintenance and inspection on your sump pump, you can insure that your basement will stay dry during the most severe rainstorms. 

7 Reasons You Should Be Buying or Selling in Today’s Real Estate Market

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After what may seem the longest ever housing slump, we are finally seeing some great conditions after five, seven years that are leading to even greater results for countless Americans. There are many reasons for this increase in activity and today I wanted to share them with you. If you have been on the fence about buying or selling or if you know someone that has been contemplating entering the real estate market, consider the seven must-know factors below. In short, if you know someone that wants to buy or sell, now is the time.

Low, Low Cost of Borrowing

Never before in the history of our real estate industry have interest rates been as low as they are today. There’s no sign at least for now of them going up and what these low rates translate to – especially when combined with other factors mentioned below, is an unprecedented opportunity for buyers and sellers.

There’s Plenty of Money for the Taking

In the past several years, banks have been wary of lending and this was particularly during a time when the housing finance industry was dealing with several scandals and subsequent settlements. But now, banks are finally able and willing to lend again, allowing deserving homebuyers the chance to finance their homes.

Low Home Prices Make Buying Better

In a traditionally stronger renters’ market, we are finally looking at buying being more affordable. This works really well in the favor of sellers that have previously been unable to sell in the wake of our recession.

Fewer Homes, More Demand

Inventory is systematically dwindling downward, causing a stronger demand for homes across our marketplace. Not only is this due to increased sales but also the number of REO and bank-owned properties is going down.

Plenty of Buying Power Floating Around

There are a large number of first-time homebuyers on the prowl at this time. With prices edging down, interest rates already at their record setting lows and inventory declining – buyers have a lot of buying power and they are out there to exercise it.

Comparable Sales Are Working Favorably

After many, many months of not-so-favorable comparable sales and appraisals, we are finally seeing numbers that work in sellers’ favor. Homes are being appraised at higher values and other sales indicate higher sales prices – leading to a good result for sellers getting top dollar for their properties.

Economy Boost With Presidential Election

Historically an election year has usually posed a good environment in terms of our national economy. Better economic times, no matter how temporary they may seem, always point to increased activity in the housing market. This works in the favor of buyers and sellers; buyers will see more quality homes on the market and will have the money to spend to purchase those homes while sellers will enjoy increased buyers vying for their property.