Columbia MO Real Estate » Money Saving Tips

Winterizing Your Home… Don’t get stuck out in the cold

Jmorton — Fri, 05 Nov 2010 20:27:47 +0000

The fall Equinox is a good time of year to start thinking about preparing your home for winter, because as temperatures begin to dip, your home will require maintenance to keep it in tip-top shape through the winter.

Autumn is invariably a prelude to falling winter temperatures, regardless of where you live. It might rain or snow or, as David Letterman says, “Fall is my favorite season in Los Angeles, watching the birds change color and fall from the trees.” Did you know there is only one state in the United States where the temperatures have never dipped below zero? Give up? It’s Hawaii.

Here are ten tips to help you prepare your home for winter:

1) Furnace Inspection

Call an HVAC professional to inspect your furnace and clean ducts.
Stock up on furnace filters and change them monthly.
Consider switching out your thermostat for a programmable thermostat.
If your home is heated by a hot-water radiator, bleed the valves by opening them slightly and when water appears, close them.
Remove all flammable material from the area surrounding your furnace.

2) Get the Fireplace Ready

Cap or screen the top of the chimney to keep out rodents and birds.
If the chimney hasn’t been cleaned for a while, call a chimney sweep to remove soot and creosote.
Buy firewood or chop wood. Store it in a dry place away from the exterior of your home.
Inspect the fireplace damper for proper opening and closing.
Check the mortar between bricks and tuckpoint, if necessary.

3) Check the Exterior, Doors and Windows

Inspect exterior for crevice cracks and exposed entry points around pipes; seal them.
Use weatherstripping around doors to prevent cold air from entering the home and caulk windows.
Replace cracked glass in windows and, if you end up replacing the entire window, prime and paint exposed wood.
If your home has a basement, consider protecting its window wells by covering them with plastic shields.
Switch out summer screens with glass replacements from storage. If you have storm windows, install them.

4) Inspect Roof, Gutters & Downspouts

If your weather temperature will fall below 32 degrees in the winter, adding extra insulation to the attic will prevent warm air from creeping to your roof and causing ice dams.
Check flashing to ensure water cannot enter the home.
Replace worn roof shingles or tiles.
Clean out the gutters and use a hose to spray water down the downspouts to clear away debris.
Consider installing leaf guards on the gutters or extensions on the downspouts to direct water away from the home.

5) Service Weather-Specific Equipment

Drain gas from lawnmowers.
Service or tune-up snow blowers.
Replace worn rakes and snow shovels.
Clean, dry and store summer gardening equipment.
Sharpen ice choppers and buy bags of ice-melt / sand.

6) Check Foundations

Rake away all debris and edible vegetation from the foundation.
Seal up entry points to keep small animals from crawling under the house.
Tuckpoint or seal foundation cracks. Mice can slip through space as thin as a dime.
Inspect sill plates for dry rot or pest infestation.
Secure crawlspace entrances.

7) Install Smoke and Carbon Monoxide Detectors

Some cities require a smoke detector in every room.
Buy extra smoke detector batteries and change them when daylight savings ends.
Install a carbon monoxide detector near your furnace and / or water heater.
Test smoke and carbon monoxide detectors to make sure they work.
Buy a fire extinguisher or replace an extinguisher older than 10 years.

8 ) Prevent Plumbing Freezes

Locate your water main in the event you need to shut it off in an emergency.
Drain all garden hoses.
Insulate exposed plumbing pipes.
Drain air conditioner pipes and, if your AC has a water shut-off valve, turn it off.
If you go on vacation, leave the heat on, set to at least 55 degrees.

9) Prepare Landscaping & Outdoor Surfaces

Trim trees if branches hang too close to the house or electrical wires.
Ask a gardener when your trees should be pruned to prevent winter injury.
Plant spring flower bulbs and lift bulbs that cannot winter over such as dahlias in areas where the ground freezes.
Seal driveways, brick patios and wood decks.
Don’t automatically remove dead vegetation from gardens as some provide attractive scenery in an otherwise dreary, snow-drenched yard.
Move sensitive potted plants indoors or to a sheltered area.

10) Prepare an Emergency Kit

Buy indoor candles and matches / lighter for use during a power shortage.
Find the phone numbers for your utility companies and tape them near your phone or inside the phone book.
Buy a battery back-up to protect your computer and sensitive electronic equipment.
Store extra bottled water and non-perishable food supplies (including pet food, if you have a pet), blankets and a first-aid kit in a dry and easy-to-access location.
Prepare an evacuation plan in the event of an emergency.

By Elizabeth Weintraub

6 Frugal Ways to Beat Cabin Fever

Ace — Tue, 16 Mar 2010 22:48:16 +0000

One nice day can throw your senses into a tizzy after spending the last several months couped up in the house or bundled up in layered clothing. Struggling through cabin fever can be especially difficult for those who crave the sun and just don’t see enough of it during the winter months.

There are several ways to beat back cabin fever without having to invest in an expensive vacation or start a time-consuming project you are not interested in following through with simply because you are bored (ie: cleaning out the basement or the closets).

Here are 6 great ideas to stave off the winter blues and feel more productive without having to spend hardly a dime:
1. Open the Shades
During the cold winter months, it is a good idea to open the blinds and the curtains during the daylight hours to allow what little sun there is to warm the house naturally. This extra sunshine in the house can help your feel a little brighter as well. At dark, make sure you re-close all of the curtains and shades to keep the cold night air out.

2. Get Walking
Walking is one of the best forms of daily exercise you can get. It get your heart pumping and keeps your mind clear. Taking a small walk in the morning for 15-30 minutes can help give you a boost, give you more energy, and get you in better shape. Walking in different areas each day can also help because a change of scenery might do your mind some good since you have been staring at your four walls for too long. Walking is a great habit to establish and even during the cold months, it will do your body good to get some fresh air daily.

3. Eat Better
Your diet plays a large part in your emotional well-being. You tend to lack D vitamins during the winter months when you are more likely to be out of the sun. These vitamins are essential to your body’s ability to produce serotonin, which is your body’s natural depression defense. Eating green vegetables and an overall healthy diet can help boost our energy levels and just feel better overall.

4. Help Others
During the winter, it can be easy to get depressed but sometimes, as bad as it seems things are, there are others who are much worse off than we. If you are struggling with cabin fever and boredom, take some of your time and volunteer it to help others. There are likely food pantries that could use an extra hand since so many more people are now in need than before. There are likely many opportunities where you could lend a hand but if you can’t find what you are looking for there, contact VolunteerMatch.org to find opportunities.

5. Plan Forward
If you are really anticipating the warmer spring weather, start planning now for the different ways you can take advantage of it as soon as it hits. If you are an outdoorsy person, compare different campgrounds where you might want to go when the weather breaks. Research what kind of flowers you are going to plant in the garden this year. Even better, start planting flower seeds now so they will be ready to go when the weather improves. There are a lot of ideas out there that are frugal and fun.

6. Be Grateful
When all else fails, slow down and think about all the wonderful things you have in your life, no matter what season it is. Chances are good it will bring a smile to your face and make you feel better. Remembering all the wonderful things you already have instead of focusing on what you don’t have might bring you more peace throughout your entire life. It might not fight off cabin fever totally, but will certainly help you to stay grounded.

7 tips for buying foreclosures

BevCurtis — Mon, 08 Feb 2010 05:52:08 +0000

There are a lot of great deals on the market, but buyers beware: Purchasing a foreclosure is rife with pitfalls.

Foreclosures are dominating the housing market. Right now, there are 1.5 million such homes for sale, and more are expected to be available soon. That provides both opportunities and pitfalls for bargain hunters.

Just because prices are low doesn’t mean you should make snap decisions or buy something that isn’t right. Here are 7 tips for making sure you don’t get taken for a ride.

1. Don’t get caught up in a feeding frenzy

“Everybody and their grandmas are trying to buy foreclosures,” said Glenn Kelman, CEO of Redfin, an online, discount broker. But that doesn’t mean you should lose your head.

Banks put repossessed homes back on the market at cut-rate prices because quick sales help avoid the expense of upkeep, such as property taxes, insurance, heat and electricity.

Those lowball prices represent golden opportunities, but they also attract dozens of buyers who may bid until homes are no longer bargains.

Don’t get caught up in a bidding war. Instead, carefully calculate what you want to spend and do not exceed that price.

2. Contact lenders directly

Smart buyers establish relations with asset managers at banks. This may reward them with inside information or first crack at new foreclosures hitting the market.

In the case of a short sale, for example, it can give the inside edge. If a buyer is pursuing a short sale — buying a home for less than what the current owner owes on the mortgage — she should talk directly to the property’s asset manager. That way, if the short sale falls through and the bank repossesses the house, the asset manager knows she is still interested. It could lead to a quick sale without other bidders.

3. Get pre-approved from the lender you want to buy from

If you’re trying to buy a property from, say Bank of America, it can help to get a pre-approved mortgage from Bank of America. Doing so may cause lenders to look more favorably on your bid if it’s similar to others.

Plus, you’re not locked in if other lenders offer you better terms. You can always change your mind and get your mortgage from another source.

4. Consider fix-ups

Most REOs, the industry term for bank owned properties, are sold as is. “The conventional wisdom is that banks will do nothing to the houses before the sale,” said Kelman.

That can be problematic today because so many foreclosed homes are in less-than-mint conditions. Often, the former owners were struggling to pay their bills and may have neglected routine maintenance. Or, they may have trashed the properties before leaving

In 25% of cases, homebuyers persuade lenders to fix some of the problems before the sale closes. Most of the time, banks would rather sell the house to the next available bidder — one who doesn’t ask the bank to pay for repairs.

So be willing to consider a home that needs some work — but budget accordingly.

5. Hire a real estate attorney

Once banks agree to sales, they often want to move fast and load contracts up with legal mumbo jumbo. As a result, buyers often do not have the time or expertise to figure all the angles.

The solution is to hire a real estate attorney — even in states where home sales are usually completed without one. Considering you’re making a six-figure investment, the legal fees are cheap insurance against the risks.

6. Wait to make an offer

Homebuyers may be well served to wait before making an offer. Let the house sit on the market for a few days, giving others a chance to set the bidding tone. Then jump in.

“Talk to the agent selling the property,” said Kelman. “The agent may tip his hand. Call up and ask, ‘Should I make an offer? What should I come in at?’”

The agent may tell you he has offers at, say $300,000 and you should bid a bit higher, giving you an advantage over earlier bidders.

7. Tour properties with contractors

With so many REOs in seriously deficient shape, it’s essential to go over every inch with someone who can spot problems and tell you how much it will cost to remedy them.

A foundation crack can be a minor problem or a deal breaker, and most ordinary homebuyers have no way of telling the difference. Like an attorney, a contractor can be very worthwhile insurance.