Simple tips to help you save on the cost of food.
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If you're getting ready to sell your home, do everything you can to get the house in good condition before you attempt to sell it, but don't be discouraged if the inspection report contains negative statements. Home inspectors make note of everything they see. No home is perfect.
Fix leaks and clogs before the home inspection takes place. The inspector will check water pressure by turning on multiple faucets and flushing toilets at the same time. Appliances such as dishwashers and clothes washers will be tested, too. Leaks and clogs will be apparent during these checks.
The home inspector might check the septic system (if you have one). During one method dyes are flushed down a toilet. The inspector waits to see if the dye surfaces on the drainfield, indicating a drainage problem.
The electrical panel and circuit breaker configuration should be adequate for the needs of the house. A 125 amp electrical panel works for most homes. Individual circuits should not be overloaded.
The inspector will look for receptacles with ground fault circuit interrupters (GFI) in bathrooms and kitchens. These receptacles have little test-reset buttons on them. The home inspector will likely make sure the receptacles are what they appear to be, and not "dummies" that aren't wired to work.
Some of the grounded receptacles (with 3-pronged plugs) will be checked too.
The inspector will check the heating and cooling systems, making sure they work he may add comments about their efficiency. The inspector will take a close look at the structure and foundation. All appliances will be checked. The inspection report will include details about smoke detectors.
Remember that the home inspection report is not a wish-list for buyers. Read your contract carefully–it probably states which systems should be in good working order at closing.
Your contract may also state that you are under no obligation to make any repairs at all–although the buyers can then likely withdraw from the contract. Don't feel you must comply with unreasonable demands for repairs.
According to a new poll by the National Association of Home Builders (NAHB), Americans remain strongly committed to federal support for home buyers.
Roughly 68 percent of those polled said the government should continue to support housing, and 65 percent believe the government should be doing more to keep families from losing their homes to foreclosure.
The poll included both home owners and renters and was conducted for the National Association of Home Builders (NAHB) by RT Strategies, a non-partisan public opinion polling firm based in Washington, D.C. RT Strategies interviewed a representative sample of 1,000 adults nationwide by telephone using live interviewers on January 29-31, 2010. The sample included 170 interviews with respondents from cell-phone-only households.
Among those polled, some key groups said the government should continue to play a vital role in maintaining a healthy housing market. For example, 78 percent of all potential home buyers, including 81 percent of renters intending to buy a home in the near future, said the government should continue to support housing.
Roughly 65 percent of home owners said the government also needs to do more to keep families from losing their homes. Support for more foreclosure protection was not confined merely to current home owners. Among renters, 84 percent said the government needs to do more to helped strapped borrowers. This issue is particularly important to women, with 71 percent supporting greater foreclosure protection, compared to 58 percent of men.
Financial concerns continue to be the greatest barrier to growth in the housing market. Among renters nationwide who aspire to own their own home, 39 percent simply don't have the money to buy a home at this time, and another 20 percent said the primary obstacle is that they feel they cannot qualify for a loan. Larger economic issues also play a role, as 18 percent said that job security is the greatest obstacle they face in trying to buy a home.
We'd love to hear from you in response to this survey. Do you think the government should be doing more to keep families from losing their homes to foreclosure? What about government assistance in buying a home, such as the first time home buyer tax credit? Let us hear from you by clicking on the comment link below.
With tax time here again, here are some of the most common mistakes people make while doing their taxes. Avoid these to save yourself money, and a possible audit.
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Mortgage rates are at record lows. Home prices are at record lows, and the federal government is offering tax credits for purchasing a home.
Why then should anyone rent?
Home prices and mortgage rates have dropped so much that the cost to own and maintain a house is only a bit more, and sometimes even less, than the cost of renting.
Recently, mortgage rates and home prices are at, or better, than historic averages in 49 of the top 50 home building markets.
Currently, a buyer who qualifies for a mortgage loan can get a monthly mortgage loan payment on a median-priced home at about 15.3 percent of the median family income. The number is far below the 20 percent average from 1991-2008.
However, the key is finding the right market because in some places, home prices remain unaffordable. Some areas however, may be cheaper to buy than to rent.
The federal government’s home buyer tax credit program also makes it advantageous to buy. The tax credit program was passed as part of the government’s stimulus plan. It offers an $8,000 dollar tax credit for first-time home buyers and $6,500 dollar tax credit for existing homeowners looking to upgrade. However, the program is scheduled to expire on April 30. Home buyers are urged to act soon.
At the same time, analysts warn home buyers that if they are planning to buy, stay put for a minimum of five to eight years or risk taking a loss.
