Aug 18, 2020 | Real Estate
Did you know that dry rot is ironically created from having too much moisture come in contact with wood?
The fact is many homeowners are unaware that dry rot is even setting in, so the first step toward prevention is being able to diagnose possible areas of exposure before dry rot becomes a major renovation expense.
Remember that dry rot to your foundation can be an extremely costly repair and will definitely figure prominently into the total value of your property when a house inspection is completed prior to a sale.
As well, fungus and mold spores can affect the air quality of your home, which is a health problem for not only you and your family but also for prospective buyers.
Identifying Leaks To Your Water Membrane
In a very simple sense, discovering moisture or a leak on a wall or ceiling is an early sign that damage is occurring. Always inspect ceilings for particular evidence, especially around skylights and exhaust piping, as well as heating or cooling ducts. If damage was done to your roofing membrane during an installation or renovation, water can seep through.
Do an inspection of your basement in order to determine if any discoloring is happening to walls or wood. If you can smell mold or mildew, you may have a problem. However, this doesn’t mean that you’re already suffering from dry rot, just that the area is a hazard and should be sealed properly. Deal with the cause of the leak before you proceed to the repair stage.
Replacing The Affected Areas
If you have discovered wood that is either in the process of rotting, or has succumb to some water damage, the best thing to do is simply replace it. Once you’ve sealed the leak that initially caused the damage, discuss with your contractor the scope of the replacement job.
When installing new wood, it’s best to make sure that it’s treated with a Borate wood preservative to prolong its life and resilience to fungal infection. In some cases, you may not need to replace wood at all. You may be able to get away with only cleaning and then treating the area with Boric Acid, a fungicide that will slow down the spread of existing fungus and kill future growth.
Choosing The Right Fungicide And Preservative
This step will depend on the unique needs of your home’s situation. Generally, you have the option to choose between a dry powder and a glycol-based liquid concentrate. While the powder may appear less expensive, it may not do as thorough a job of absorbing deeply into the wood fibers.
Depending on the depth of fungal intrusion, you may need to use the more powerful liquid substance. Both are easy to apply, so you should be able to tackle this task yourself.
Maintaining the quality of your home is essential for keeping up its value when it comes time to sell. Call your trusted real estate professional today for more advice on preserving the value of your investment and identifying areas of risk and exposure to dry rot.
Remember that it’s far easier to deal with problems now before they develop into major expenses down the road.
Aug 14, 2020 | Real Estate Tips
Homes are more than just a building. They are filled with memories of children taking their first steps, holidays that were celebrated with family members and friends, and Super Bowl parties filled with smiles and cheers.
These memories are priceless; however, people cannot let emotions cloud their judgment when they are trying to sell a house. Instead, it is important to focus on the building. There are a few tips that everyone should follow as they try to figure out how much their home is worth.
Be Reasonable
The first tip is not to price a home too high out of the gate. While it is tempting to start high and reduce when necessary, the reality is that a price that is too high is going to scare off potential offers. It is better to start with a reasonable price that will get people interested. Then, if the offers start to pour in, there is a bidding war. The price will naturally take care of itself.
Upgrades Don’t Always Lead To A Higher Price
It is tempting to follow in the footsteps of TV shows and pour money into renovations that might lead to a large return on investment. The sad fact is that this is not always the case. Even though the homeowners might love the renovation, this doesn’t mean that a potential buyer will. Do not renovate purely to raise the value of a home. Upgrades can go out of style just as quickly as they came in.
Don’t Price Out Of Necessity
Never price a home based on a dollar amount that has to be reached. It is always better to price a home relative to what the market indicates. Nobody is going to make an offer on an overpriced home purely because that is how much money the seller needs to make.
Leave Emotions At The Door
Finally, do not price a home based on emotions. Yes, a home is a special place; however, remember that the home is on the market, not the memories. Instead, always price a home based on what the comparables are showing. This will lead to a smoother selling process, a higher price, and a bigger return on the initial investment.
Aug 13, 2020 | Real Estate Tips
When making plans for a fun-filled vacation, you shouldn’t forget implementing certain home security measures to ward off thieves. Nobody wants to return home only to find that intruders had ransacked the residence from top to bottom.
If you’re going away on vacation, make sure you protect your home against break-and-enters with these five tips.
Alarm Intruders With Audible Deterrence Measures
Installing a professional home security alarm is one of the most cost-effective ways for people to protect their homes when they are away.
Buying and setting up the right system will ensure that the proper authorities will be notified if thieves break in or attempt to force their way in.
While determined crooks will be hard to discourage, most would-be intruders will look for easier targets if they inadvertently trigger a loud, piercing alarm that attracts too much attention from anyone who could call the police.
Make Forced Entry Difficult With Solid Doors
Some thieves will take a very direct approach to break-ins by simply trying to force their way through a locked door. If the exterior doors are hollow, thieves will have a pretty easy time getting through. This is why it is important to install solid doors rather than hollow ones; solid doors are much harder to break through.
If you’re concerned about intruders forcing their way through your hollow doors, your best recourse is to upgrade to solid doors. Upgrading will cost a pretty penny, but the added protection they will provide will be well worth the investment.
While getting solid doors installed, you can go one step further by investing in good locks, deadbolts and reinforced strike plates.
Do Not Advertise Your Departures
A pile of newspapers at the front door or a mailbox full of mail and flyers will be proof positive to crooks that no one’s home. Homeowners who are going to be away on vacation should ask neighbors or other people they trust to collect their mail while they are away.
If having a neighbor collect your mail isn’t an option, go to the post office and request that mail service to your home be suspended until you get back. It is also best to suspend newspaper deliveries for the vacation period as well.
Neighborhood Watch To The Rescue
One great home security solution that won’t cost a penny is having neighbors who look out for you. Homeowners would do well to ask trusted neighbors to keep an eye on their property while they are away on vacation. Tell those trusted neighbors to be on the lookout for any suspicious activity and to call the authorities if necessary.
Protect Sliding Doors With This Simple Trick
Before heading off on vacation, you should safeguard the sliding glass doors in your home by putting something like a metal rod in the track. This way, thieves will not be able to force the door open.
Vacations are a time to unwind and to have some fun. However, responsible homeowners will do what it takes to make their residence less attractive to would-be thieves while they are away.
For more information on how to safeguard your home, or to get answers to your pressing real estate questions, contact your trusted real estate professional for prompt and practical advice.
Aug 12, 2020 | Real Estate
The COVID-19 pandemic has taken the world by storm. Millions of people all over the world have been infected and businesses have ground to a halt. During this time, it is important for everyone to take a breath, pause, and look at their insurance policies.
The reality is that the economic crisis is following in the footsteps of the obvious public health emergency. In order for everyone to hold their finances together, it is important to explore all of the options. This includes looking at insurance policies.
Business Interruption Insurance
One of the first policies or riders that everyone has to look for is called business interruption insurance. This is an insurance policy that might be able to assist companies that are struggling with reduced revenue streams due to interruptions in their normal business operations.
For example, if a business is forced to shut down due to the COVID-19 pandemic, this might fall under the category of business interruption insurance. This can help businesses bridge the gap until they can reopen again.
Civil Authority Clauses
This is a feature that is common in property insurance. This insurance claim can be triggered if government policies restrict the entry of people onto the property of the policyholder. If this restriction leads to lost income, then the insurance policy can be triggered. Everyone should check their policies to see if this clause is included as this can provide funds to businesses that might not otherwise be able to stay open.
Defensive Policies And Riders
Finally, defensive policies are often put in place to help companies defend against lawsuits that might be filed against the company related to injuries and illnesses. Without a doubt, there will be a slew of lawsuits filed related to the COVID-19 pandemic. Defensive policies can help companies cover legal fees, settlement costs, and other expenses related to these lawsuits.
Defensive policies are also called D&O insurance (Directors and Officers Insurance) as well as General Liability Insurance. It is important to read the insurance policy carefully to see if these policies are included.
Businesses need to explore every available option when it comes to reopening. These insurance policies can help them survive the COVID-19 pandemic.
Aug 11, 2020 | Real Estate
While businesses have fallen on hard times during the past few months, there are signs that the economy is going to start to recover quickly. This could mean that homebuyers are entering the market again as well.
With summer being a historically hot time for homebuyers all over the country, there are a lot of experts saying that buyers need to get ready for a bidding war.
There are not a lot of homes on the market right now, as sellers are still a bit reluctant to put their homes back on the market with the economy just starting its recovery process.
The end result is that there is a disconnect between supply and demand. This imbalance is causing home prices to climb upward as homebuyers get into a bidding war.
Homebuyers Might Be Surprised
Many homebuyers are surprised that prices are actually rising instead of falling. When the last recession hit, home prices actually fell significantly. This is because mortgage defaults were the cause of the last recession, which is why home prices fell so dramatically.
The cause of this economic downturn is different. Due to a limited supply of homes, this is leading to more competition among homebuyers. This leads to more competition, handfuls of offers for a single home, and a bidding war. In order to find the right home, there are a few tips that homebuyers need to keep in mind.
Put Forth A More Competitive Offer
Those who are looking for a home right now need to place themselves in a position to compete against multiple offers from other homebuyers. Some of the most important tips to follow include:
- Hire a local expert who understands the state of the market right now who can help homebuyers find the right home. Right now, the real estate market is not normal. It takes an expert to understand the ins and outs of buying a home in this market.
- Get pre-approved from the market to make sure the offer looks serious to the seller. Those who get pre-approved from a lender will demonstrate a strong desire to buy, pushing their offer to the top.
There are ways to put forth a competitive offer even in this challenging real estate market.
