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 | May 21, 2012 | CRESTICO
73% of homeowners are paying too much for their home insurance! Let me tell you about three easy things you can do today to cut down your cost:
#1 – Give them more business and reap the rewards! – By combining your auto and home (or boat, motorcycle, RV, business, life, etc) policies with the same insurance company they will reward you with a multi-policy discount. If your insurance company doesn’t offer you this discount then chances are I can beat your current policies.
#2 – Cut the middleman out – Brokers make their money by charging a brokerage fee and they add that fee to your costs. By switching to a private insurance agent, you can cut out the brokerage fee and save yourself some additional money.
#3 – Discounts, Discounts, Discounts!!! – By installing a burglar fire alarm in your home you can save up to 20% off your policy. You can also get discounts for dead-bolt locks, indoor fire sprinklers, and even smoke detectors (which you should have anyways). If you currently aren’t offered these discounts, check with me to see what I can do for you.
by CRESTICO | Jun 22, 2011 | CRESTICO
This year California housing market conditions makes a strong and compelling case for homeownership. With prices still well below the historic highs of just a few years ago and attractive mortgage rates, qualified buyers have a unique opportunity to own their own home. As seen below, a rigorous analysis of renting versus buying hears this conclusion out. As shown in the following chart, the monthly housing costs (principle, interest, taxes, and insurance or PITI) associated with buying a median-priced home of $301,430 is $1,590 (Fourth Quarter 2010 median priced home in California). This assumes the buyer is making a 20 percent down-payment and financing with a 30-year fixed rate mortgage at 4.62 percent. In comparison, the median rent on a three-bedroom two-bath apartment with renter’s insurance in California is $1,810. That means buying a home would save the homeowner $220 per month when compared to renting and the homeowner would save over $2,600 a year. Reported by the National Association of Realtors
Mitra.Karimi@Crestico.com
Direct: (949) 478-4466 | Fax: (310) 933-1619
DRE. Lic. # 01848917
Office: (877) 880-2929 x.4466 | Fax: (877) 881-2929 | www.crestico.com
1281 Westwood Blvd. Suite 102 Los Angeles, CA 90024
"To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity."
by CRESTICO | Oct 5, 2009 | CRESTICO
The state of today's housing market leaves us all with something to be desired… but what we crave most is a GOOD DEAL. Whether you are a current homeowner, a former homeowner or a future homeowner; knowing what a short sale is and how you can make it work for you can help you save and make tons of money!
Now, if you're a homeowner facing foreclosure, this may be a great way for you to save yourself from the pain and drama of going through a foreclosure. If you're a buyer – you're in luck! Buying a short sale may save you tens of thousands of dollars on your dream home! If you're a current homeowner, not facing foreclosure, buying a short sale may just be that second home (and extra income) you can use to help you retire sooner!
To get started, you will need an agent. But not just ANY agent will do. You will need a specialist. Not just any agent can be a short sale specialist, although many will call themselves just that. You need an agent who is an EXPERT negotiator to deal with a short sale.
First, let's explain what exactly, this type of transaction is. Basically imagine a homeowner owes $500,000 on his home but can no longer make the payments and foreclosure is around the corner. You, as a buyer, can make an offer to the Lender that owns the bank for $400,000 and if you get approved, you've save the homeowner from foreclosure and pocketed a nice $100,000 savings! Extending yourself to distressed homeowners is a great way to be most successful at securing an approval. We have found that homeowners who are more than three payments behind on their mortgages are generally more amenable to such a transaction (and so are their lenders!).
Your agent will be KEY in getting an approval from the bank for you, which is why you must pick the right one! The agent handles negotiations with the bank and make sure that you are truly getting your money's worth.
For more information on how to find the best agent for you, click on the link below!
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.
