by David Glenn | Apr 11, 2016 | CRESTICO
There are more than enough things that homeowners assume they know, yet aren’t fully aware of. Letting things slip under the carpet or become easily forgotten can create more work than you realize. Knowing just what you need to be aware of to keep your home functioning well and always being on top of repairs is one of the biggest jobs of a homeowner. Here are seven things every homeowner should know.
Regular Filter Replacement
Replacing filters, especially for your furnace, on a regular basis is very important if you want to keep your appliances in the best condition. Ideally, they should be changed four times a year. If this feels like excessive, at least do it twice a year. To make it easy, buy several filters at once and label them with the month that you plan on changing them in.
Drain Cleaners
More often than not, the drain cleaner you are using is more corrosive and harmful to your pipes than not. If you have a sink or bathtub that isn’t draining well, try snaking it first before you dump drain cleaner down there. Often, what is blocking your pipes is hair that cleaners won’t take care of very easily. If you do need to use a drain cleaner, invest in a non-corrosive one such as Bio-Clean (plumbers prefer this kind!)
Smoke Alarms
A quarter to about one third of smoke alarms don’t work because of missing or dead batteries. But what most homeowners don’t know is that having just one working smoke alarm can reduce the chances of you dying in a home fire by nearly 50 percent! If you can’t get to all of the smoke alarms regularly to check their batteries, focus on at least one for each floor. If you do have the time, be sure to regularly check your alarms and batteries (at least twice a year). Try working it into your cleaning routine, such as when you’re dusting.
Understand Insurance
Most homeowners are under the mistaken impression that their home is completely insured from catastrophe. This couldn’t be further from the truth. Most home insurance policies have stipulations and events that they do not cover. This includes things as major as housing floods and earthquakes. Additionally there is insurance for your appliances called home warranty insurance.
Ducts
According to some studies, the biggest problem with heating and cooling consumption comes from leaking ducts. You would be surprised to see that most of your energy consumption isn’t actually coming from you. Sometimes, not even heating technicians will check for leaks. If you check and feel like your energy consumption is still terribly high, invest in a good power quality meter. These devices can help gauge your family’s energy consumption and show you where you may need to cut back on energy use.
Colors
Choose colors for you house that will work now and later. Though this may seem trivial, it can save you money in the long run. If you enjoy painting your walls, pick something that can work well with different patterns and furniture. Generally, neutrals are best, such as grey or beiges. If you find in 10 years that you want a new red couch but your walls are blue or purple it may not work. Plus, if your walls are what you might call “boring” you can spice up your décor with stunning throw pillows, pottery, towels (in the bathroom and kitchen), and even beautiful rugs. By picking colors that can work always, you will find that you will save money from not having to repaint often and will also save you a headache from picking something that could work with already existing colors.
Your Breaker Panel
Most electrical panels already have labels or lists that indicate which breaker controls which circuit. However, these labels aren’t always completely reliable, especially in older homes with recent remodeling. In these situations, you might find that an outlet in one room is on a completely different circuit as all the other outlets in the same room but that one random outlet isn’t labeled on the circuit box. If you have an orphan outlet, or suspect you do, use a voltage detector to make sure the power is off before proceeding to do any electrical work.
Handy Work
If something can be fixed, you should fix it. Don’t think that some things should be ignored because they don’t seem important (just like those bad drains or smoke alarms). Other things you should fix when you can (or at least take care of) are black mold spots, any leaks, broken doorbells, sticking locks, torn screens, and so much more.
At the same time, if there is something that needs fixing especially big things like plumbing or heating issues, if you’ve done your research but still feel uneasy don’t shy away from hiring a professional. Oftentimes we think we can fix things that we really can’t and shouldn’t. Professionals are there for a reason.
by CRESTICO | Feb 18, 2009 | CRESTICO
In making your decision to work with an agent, there are certain questions you should ask when evaluating a potential agent.
First, you should find out (by asking him/her) whether he/she is a REALTOR®. The term "REALTOR®" is a registered collective membership mark that identifies a Real Estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics (which in many cases goes beyond state law). In most areas, it is the REALTOR® who shares information on the homes he or she is marketing, through a Multiple Listing Service (MLS).
Next, get to know a little about your potential agent's license. In California, you can go to www.dre.ca.gov and do a "license check." This means you can see whether this person (a) has a license, (b) has a license in Good Standing and (c) who is the Broker that your agent is affiliated with. All of this information can be quite useful. Odds are that you do NOT want to work with someone who has a questionable past or too many open complaints or inquiries. In this day and age of rampant fraud and dishonesty, and with the mortgage crisis we are currently in, it would certainly be in your BEST interest to make sure your agent's license is CLEAN!
Next, find out about your agent's access to the Multiple Listing Service (MLS). If he/she is a Realtor® most likely, he/she has access to the MLS in your desired area. If not, you may want to ask him/her to get than access before you agree to use him/her as your agent. A good agent will go to any length to secure your satisfaction. The MLS can be quite useful in helping you to locate your dream home.
Now that you know about his/her license and all that he/she has access to, it is time to find out a little about your actual agent. Remember, this is a person you are going to be working quite closely with for an extended period of time. Many escrows are generally 30 days, and some, especially those for REOs are even longer. Remember, you do not enter escrow until after you have found a home, and sometimes it can take weeks to find the right home, so you want to make sure you are working with an agent that you are pleased with. In order to get to know your agent better, you want to ask him/her if real estate is his/her full time career. An agent who is not fully committed to his/her career, probably cannot be fully committed to your house hunt, either.
Additionally, you will want to find out if this person whom you may be considering as a potential agent, is in fact the seller's agent, as well. What does that mean? Let's say you go to an open house and there is a nice agent there who is extremely helpful and friendly. Now let's say this friendly agent asks you if you have an agent and you say "no." This person will want to be your agent. However, keep in mind, this agent is the Seller's agent, which means that he/she is the Agent who is trying to sell the home you are viewing. You will want to be careful about what kinds of confidential information you give this agent, because he/she has a fiduciary duty to his/her client (the homeowner.) So, it may be in your best interest, to find your own agent so that you can have someone purely interested in YOUR best interest, ONLY.
Finally, before making a final decision regarding an agent, you should ask the prospective agent HOW he/she plans to help you find your dream home. Ask him/her about his plans, you are entitled to know how your agent wants to go about making sure your future home has all of the things you do want and none of the things you do not want.
by CRESTICO | Feb 10, 2009 | CRESTICO
You’ve started the process. You made the decision to purchase a home, perhaps even your first one! Now that you have found the one you want, what’s next? Your agent will help you, read more for some tips and insight as to how the process works. First, you need to make an Offer. What that is, is basically an expression of your desire to purchase the property and at what price you are willing to do so. Your offer will be the first step in the negotiation process. Just like any other offer you make, it would be highly helpful to take the other party (in this case, the seller) and his/her expectations into consideration when making your offer. The seller has set an asking price for the property, but remember this is not set in stone! Often, you as a buyer, can save lots of money just by starting with the right offer price.
Often, when writing an offer, there will be lots of contingencies involved. Contingencies are basically built-in protections to make sure that your risks are being limited and you are being afforded the most protection possible. Your offer will include information such as: the price you are willing to pay as well as other details that are involved in the negotiation process such as down payment and financing information, inspection information and timetables on the method and manner that you will be receiving legal and physical ownership of the property. Other information included will be whether personal property is included in the purchase, terms of cancellation, any repairs you want performed, which professional services will be used, and how to settle disputes should they occur. Here, we will focus on the topic of Contingencies to give you a better idea of what they are and how they work.
Although in most transactions there may be slight challenges, most will go quite smoothly. However, we want you to be prepared and anticipate potential problems so that if something does go wrong, you will be in a position to cancel the contract without incurring any penalties. These protections are called "contingencies" and should be included when you offer to buy a home.
Often, a buyer will not be making a full cash offer on a property, that is, offering one lump sum as payment in full. As a result, that buyer will seek and need financing to complete the purchase. Obtaining suitable financing can be made a contingency as well. Buyers often do this to protect themselves, should they be unable to secure financing. Another contingency that buyers should consider is that the property should appraise for at least what the buyer agreed to pay for it. Inspections will be performed and reports will be provided before such contingencies are lifted.
Sometimes, a buyer will agree to purchase a home while in the process of selling the home he/she is currently living in. Often, even though an offer has been accepted on the buyer’s current home, the buyer and his/her potential buyer may still be involved in escrow, making that transaction a “pending” sale that has not “closed” yet. As such, a buyer would want to make that closing a “contingency” on the offer he/she is making; so that should something go wrong and that sale not close, the buyer would not be forced into a situation where he/she would be responsible for two mortgage payments each month.
Ultimately, contingencies protect buyers just in case they find themselves in positions where they become unable to perform or choose not to perform on a promise to buy a home. Without contingencies, a buyer may find himself/herself forfeiting his/her earnest money deposit.
by CRESTICO | Jan 31, 2009 | CRESTICO
You’ve been hearing a lot lately about foreclosures, REOs and short sales. There are conflicting reports about whether or not they can be good investments. At Crestico Realty, we pride ourselves on giving you the most up-to-date information on making the best Real Estate decisions for yourself and your family’s future. Buying a foreclosed home may not be for everybody, but keep reading and find out if it’s right for you.
Sometimes, foreclosed homes can be good investments, because often, they sell for less than market value. For a first-time homebuyer, the process may seem more complex and time-consuming but that’s why we, at Crestico Realty, are here to help! A foreclosure is a property that is being “foreclosed” upon by a bank or some other lending institution. It is a legal process through which the homeowner's rights are terminated, generally as a result of his/her failure to pay the mortgage.
One thing that is important when considering the purchase of a foreclosure, is where and how the home is being sold. Often, real estate auctions are where foreclosures are sold because the lender is generally trying to sell the property as soon as possible. At auctions, buyers are generally expected to pay for the house at the end of the auction, which means the financing must already be in place. At Crestico, we work with a preferred lender to make sure that if you want to purchase your home from an auction, we have your financing ready to go.
However, in today’s market, auctions are not the only way to purchase foreclosures. Many REO (real estate owned) companies purchase these foreclosures and list them for sale, essentially performing the function of a “homeowner” who does not live in the house. When making an offer on such a home, it is still a great idea to have your financing in place, so that your offer (which will most likely NOT be the only one) will be easier to accept.
Buyers often ask, regarding foreclosures, “Will I be able to gain equity in an REO?” The answer to this question is generally dependent on (1) the current value and (2) the sales price of the property. If a buyer purchases a property for less than it is worth, there is automatic equity. With foreclosures, and an experienced Crestico agent, you can have the peace of mind that we will find you the right foreclosure to purchase.
If you are interesting in purchasing a foreclosed property, your Crestico agent will work to find you the best home! Your Crestico agent has access to many services that track foreclosures in and neighborhood you are looking to move to, in California. We stay on top of your search. With foreclosures, you have to move quickly because the lucrative investments get snatched up quickly. Call today and speak with one of our REO Buyer Specialists!
by CRESTICO | Jan 31, 2009 | CRESTICO
Is Your Agent Right For You?
Your agent will play an important role in helping you, the buyer, find and get into your dream home. Many agents hold themselves out to be “Buyer’s Agents” but they may not be. Here, you will find some tips and information on how to tell whether your agent is really right for you.
A good agent will be clear. This means you will know clearly and concisely what services he/she will be providing you, what his/her relationship is to you and he/she will be getting paid.
A good agent is unbiased. This means that you will never feel pressured into approving or disapproving any one specific property you are shown, especially because it may affect your agent’s compensation.
A good agent is meticulous. This means that your agent will spend time and effort determining a fair and reasonable price on the property you are considering. Your agent should review comparable sales in light of inventory levels and the economic environment as well as considering your individual property’s attributes. This also means that all your documents (whether being submitted or received by you) will be proofread and reviewed to insure against errors and omissions.
A good agent is a good negotiator. This means that you will not feel alone and abandoned when it comes time to negotiate with the seller and his/her agent.
And finally,
A good agent uses his/her resources. This means that your agent, who is more knowledgeable about the Real Estate industry than you are, will use his/her resources to help you get the best value in home inspectors, appraisers, repairmen, decorators or any other “expert” advice and opinions you may need.
We at Crestico Realty pledge our commitment to you as being some of the best Buyer’s Agents around. Not only do we do all of the above for you, but we take that commitment even further. We have networks of professionals in related industries from financing to decorating to make sure that when you work with a Crestico Agent, you are taken care of from start to finish. Call us today for a consultation so we can show you the Crestico advantage. We truly are your ONE STOP SHOP for all your home-buying needs.
Mitra Karimi, President
Crestico Realty
