IT'S GOING TO GET REALLY COLD...

IT'S GOING TO GET REALLY COLD...and these are hints on HOW TO PREVENT FROZEN PIPES

Frozen pipes can be the source of costly damage and necessite extensive repairs to many homes in the midwest each winter.There are several things that can be done to help prevent freezing and the possibity of major damage.

1. REMEMBER TO REMOVE GARDEN HOSES AND ATTACHMENTS FROM THR OUTSIDE
SILCOCKS/FAUCETS.

2. FILL GAPS AND CRACKS AROUND THE OUTSIDE OF YOUR HOME WITH FIBREGLASS
INSULATION, EXPANDING FOAM, MORTAR, CAULK, OR A COMBINATION OF THE ABOVE TO
MINIMIZE COLD AIR INFILTRATION TO THE OUTSIDE OF THE HOME.(THIS WILL HELP
KEEP BOTH INSECTS AND RODENTS LOOKING FOR A WARM PLACE TO SPEND THE
WINTER).

3. INSULATE WATYER PIPES EXPOSED TO COLD TEMPERATURES INSIDE YOUR HOME WITH FOAM
INSULATION. THIS IS ESPECIALLY IMPORTANT IMPORTANT IN OLDER HOMES WITH
UNHEATED CRAWL SPACES OR CELLARS.

The first clue of a frozen pipe is reduced water flow to a certain area of the home. This could be a faucet that will not deliver water or possibly a dishwasher or icemaker that stops working. As water in the pipe freezes, it expands to form a "plug" inside the pipe. Thyis plug can easily expand enough to burst a copper pipe. It is usually when this plug starts to thaw that the water begins to flow freely from the burst pipe.

IF YOU SHOULD NOTICE EVIDENCE OF A FROZEN PIPE OR IF YOU DISCOVER A LEAK , TURN THE WATER OFF AT THE METER AND STOP THE FLOW OF WATER TO THE HOUSE. LEAVE THE FAUCETS OPEN IN ALL THE SINKS AND TUBS TO ALLOW EXCESS WATER TO DRAIN OUT.

NEVER TRY TO THAW FROZEN PIPES WITH A TORCH OR OPEN FLAME. OFTEN TIMES, A HAIR DRYER CAN BE USED TO THAW A FROZEN PIPE. ALWAYS CONTACT A LICENCED PLUMBER TO MAKE REPAIRS TO DAMAGED WATER PIPES IN YOUR HOME.

9 GOOD REASONS TO LIST YOUR HOUSE DURING THE HOLIDAYS...

9 GOOD REASONS TO LIST YOUR HOUSE DURING THE HOLIDAYS...

It's the season for holiday cheer and excitment...and it's also the time to consider putting houses on the market or not taking them off, which is contrary to some seller's thinking.

Here are some thoughtful reasons for consideration.

1. People who are looking for a home during the holidays are usually serious buyers.

2. Serious buyers have fewer houses to choose from during the holidays, so sellers will have LESS competion.

3. Houses show better when decorated for the holidays. Sellers traditionally take special pains to make their houses attractive during the holidays and the exterior really "sparkels" from roof lines to shrubs.

4. Holiday decorations add warmth and aromas to the interior of a home during the holidays...baking, candles, the smell of trees and the site of gifts add that something special.

5. Buyers have more time to look for a home during the holidays due vacations, and shorter work weeks.

6.Many people want to buy before the end of the year for tax reasons.

7. January is traditionally the month for TRANSFERS. Transferees can wait until spring to buy.Houses need to be on market to capture thoses potential buyers.

8. Bonuses...bonuses...bonuses.

9. While a contract in hand, you'll have greater opportunity in the spring when more homes are on the market.

RENT TO BE ALLOWED OVER FORECLOSURE

Fanny Mae has announced a new policy allowing borrowers approaching forclosure the option of renting their homes from Fannie.

The program...DEED FOR LEASE... will let borrowers transfer ownership to Fannie Mae and sign a 1 year lease with month to month extensions after that. The plan will keep families in the homes and stabilize neighborhoods. In the 1st half of the year, Fannie took back almost 12,000 properties thru this process, while repossesing 57,000

Freddie Mac has a similar rent back program in place since March

WHAT IT COSTS TO RUN YOUR...

WHAT IT COSTS TO RUN YOUR APPLIANCES....

An article ran today which I thought you might find "enLIGHTENING"...

Here's a breakdown of some costs for the used of your home appliances...Extrapolate for size and State

REFIGERATORS...
Models that are larger or include auto-defrostcost sigificantly more to run
Freezer:( 16cu ft-manual defrost):30 cents/day
Freezer:( 16cu ft-auto defrost) :37 cents/day
Refrig/Freezer:(18 cu ft /auto defrost) 56 cents /day
Refrig/Freezer:(24 cu ft /auto defrost) 77 cents/day

Cooking...These appliances run the gamut in terms of energy cosumption.
Oven: 25 cents/hour
Range-top burner: 9 cents/hour
Toaster: 9 cents/hour
Toaster oven: 4 cent/hour

Cooling...Look at the costs to run a ceiling fan

Central Air: $2.80-$3.76 per day (1200-1600 sq ft)
Room Unit: $1.46/day (1 ton, 12000 BTUs)
Ceiling Fan $00.05 cent/hour

Cleaning...when it comes to doing laundry, cold is best! Hot water can double the cost of a load. Suggest you damp dry to get wrinkles out, and hang when practical.

Washer...HOT: 53 cents/load
Warm wash/cold rinse: 12cents/load
Cold: 4 cents/load
Dryer: 25 cents/load
Dishwasher: 29 cents/load
Iron and Vacuum: 7 cents/hour

Home entertainment...
Computer: 00.005/hour
Radio: 00.005/ hour
CD player: 00.01/ hour
TV : 00.02/hour

MEN ARE FROM MARS...

MEN ARE FROM MARS...

The following post has been copied in full from CRS Magazine(Nov 2009)...

Gender and Home Buying Decisions
When it comes to making home buying decisions, men and women often have different priorities. A Coldwell Banker survey finds that most women are able to select a home much more quickly than men. almost 70% of women need only 1 visit to a new home to decide that it's right for them, compared with 62 percent of men. About one third of men (32%) need two or more visits.

More than half (55%) believe it's more important to live closer to their extended family than to their job, compared with only 37% of men. Women are also more likely than men (65% compared with 51%) to loose intrest in the home of their dreams if there are concerns about the home's security.

IF YOU'RE THINKING OF LISTING A SHORT SALE PROPERTY...

If you are a Real Estate agent thinking or beginning to consider the listings of short sales...do sign up for a few classes. You'll never have taken to many because each lecturer brings something new to the table, and each will prepare you for the frustrations associated ...That said

1st... Find out whether you are a Judicial State or not, and become familiar with it's impact on Foreclosure,which may follow your attempted short sale...also find out if your client has property in another state and how ownership of that property may impact their asset position in your state...and where they are financially with that property.

2nd , Become familiar with "Deficiency Judgements"...and how they may effect your selling client. Just learn about them...then always reffer your client to his /her attorney. Don't practice LAW.

3rd. Learn everything you can about Short Sale Packages...again, always deffer to an attorney but... become familiar with the elements of the package...ie, hardship letters, need for financials, et. you are expected to know about them!!!

4th. Then as a selling agent or a Buyer's agent , be prepared to WAIT...

WANT TO HAVE A TAJ MAHAL OF YOUR OWN??

Want to have a Taj Mahal of your own? Then be ready to shell out at least USD 6.265 million for the modern version of the monument of love. BY: Times of India

The "Villa Taj" in Burr Ridge in the US state of Illinois, which has been dubbed by its owner as his Taj Mahal, is about to be auctioned off with a starting bid of $6.265 million on November 4, The Chicago Sun-Times reported.

The 30,000 square-foot property featuring distinctive Indian, Spanish, Egyptian and Moroccan styles is also being marketed to potential buyers in India, Europe and Middle East.



It took five years and an estimated $18 million to build the structure, which is located at the busy intersection of County Line and Plainfield roads in Burr Ridge.

According to the real estate broker and auctioneer Mike Berland, the home briefly was listed on the market for $25 million but got no takers.

Berland said the home owners -- dentist Husam Aldairi and his wife Rawaa Atta-Aldairi -- decided to sell the property as the woman thought she could not stand the Chicago winters anymore and the couple moved to Florida.

As far as special features of the property are concerned, it includes 15,000 sq ft of exterior terraces, 160 tonnes of Jerusalem limestone, a 20-car garage and nine fireplaces. It has six master bedroom suites, one clocking in at 2,400 square feet, and marble stairs leading to a mammoth Jacuzzi tub.

"It's not going to appeal to everybody, but for a person who likes this kind of thing, they're just going to be wowed by it," Berland said.

If your interested in this property, or any property in IL, or if you have ever thought about upgrading / buying a new home or selling your current home Call or Email me and let's talk about what options you have in today's market. Direct:(312) 882-4561 Email: alan@AlanLurie.com

HOW BIG AND HOW EXPENSIVE ARE CEOs HOUSES

HOW BIG AND HOW EXPENSIVE ARE CEOs HOUSES....

I found this Factoid published in the Chicago Tribune interesting...

Business researchers at Ohio State University and Claremont -McKenna College in California peeked into public records of 1351 CEOs,circa2005.

They found the average CEO had bought his home for 1.65M (prices adjusted to 2005 levels). That "average" house had 5180 sq ft ...

...and that 67% carried mortgages...borrowing 67% LTV.

TRIVIA...

FORECLOSURE vrs. SHORT SALES...3rd POSTING

In my 1st 2 posts on this subject I outlined the consequences of short sales vrs. foreclosures on credit scores and credit histories...

TODAY'S POST LOOKS AT THE IMPACT OF BOTH ON FUTURE LOANS...

1st, regarding FORECLOSURE...the question on any future 1003 loan application , the prospective borrower will have answer "yes" to question C in Section VIII...that asks if the applicant had property foreclosed upon or if title had been given in lieu thereof in the last 7 years. This answer will affect both future rates and the ability to secure new lending.

...as regard a SUCCESSFUL SHORT SALE...no such declaration or question need be answered .

2ndly, a homeowner who loses a home to FORECLOSURE is ineligible for a Fannie Mae backed mortgage for a Primary Residence for a period of 5 years.

...but if a homeowner successfully negotiates and closes a Short Sale...that homeowner will be eligible for a Fannie Mae backed Mortgage for that same Primary Residence after only 2 years.

Regarding non -primary residences.... the period of ineligibility is 7 years regarding a foreclosure history vrs. 2 if a Successful Short Sale was negotiated and closed.

MY SUGGESTION IS TO CALL A LENDER FOR MORE INFORMATION REGARDING THESE INTERPRETATIONS OF THE LENDING PRACTICE.

8 BIG MISTAKES TO AVOID... READ ME PLEASE

These are 8 of the biggest mistakes that you can ever make while shopping for a new home. First thing to go will be your cool... soon followed by your budget! so beware.

Mistake #1. Falling in love with a house you can't afford.

If your reading this, then you know what I'm talking about ;) Buying a home needs to be a sound decision because let's face it, your home is probably one of the biggest investments your ever going to make. Let's make it a good one!

Mistake #2. Thinking that a particular house is the only one that will suit you.

Listen to your Real Estate Agent, this is what we do for a living. We know the area, the comps, the neighborhood, the laws etc.. Trust us with helping you find the perfect fit for you. There is no harm in looking and sometimes there is harm in NOT looking ;)

Mistake #3. Being so desperate to become a homeowner that you buy a place that doesn't suit you.

Buying a house is very much like buying a pair of shoes, if you don't get one that " fits you".. it's gonna be a very uncomfortable walk ;)

Mistake #4. Overlooking important flaws in the structure, appearance or location of the house.

It's very important to take the advice and expertise of your Real Estate Agent, We are trained and experienced to point out all of the flaws and benefits of the home. We will not overlook things that will cost you money or peace of mind later.

Mistake #5. Thinking you're a handyman when you're not.

Sometimes it's OK to hire a handyman for a job that you might have been able to do. It's all about working smart vs. working hard. There is never harm in getting a free estimate from a professional handyman, then make a decision at that time as to if you can fix it or if you want to just hire him and be done with it.

Mistake #6. Putting in an offer before carefully considering all the pros and cons of the property.

This is a very important one, you hired a Professional Real Estate Agent, now listen to my advice. It could prove very beneficial to your purchase.

Mistake #7. Being too slow to pull the trigger.

In a market like today it is important to be prepared to buy a house when you start looking, I will provide you with a step by step guided game plan so that when the time comes to make a decision, you will already have all your ducks in a row and therefore be prepared to make your decision in a timely manor. There are alot of good deals out there right now, let's make sure that when we find something that you like, let's proceed before someone else takes advantage of it.

Mistake #8. Offering more than a house is worth.

As a Real Estate Professional I am a wealth of knowledge...USE ME !! lol Don't let emotion play a part in buying your home, just remember, when you purchase a house, you want to always look at resale value, the old saying goes something like this... " Buy low... sell high" ;)

Conclusion

Even knowing all of these things, it's still hard to act on them. You may still find yourself making decisions based on emotion during the home-buying process. Slow down, overcome your emotions and, ultimately, make a home-purchase decision that's good for both your feelings and your finances.

If you have ever thought about upgrading / buying a new home or selling your current home Call or Email me and let's talk about what options you have in today's market. Direct:(312) 882-4561 Email: alan@AlanLurie.com