Lancaster PA Real Estate Blog

We have heard ALL THE RAVE about how the Stimulus Bill had a ton of Energy Efficient Tax Credit stuff in it.  No cap on Solar and Geothermal - 30% up to a MAX of $1500 on Energy Efficient Improvements ...

One of the best parts of that is being able to get up to $1500 back for New Windows.  You know, those crummy single pane windows that you would love to rip out.  But, Hold On!  Have you read to see what qualifies?  I went in to Home Depot the other day and not a SINGLE WINDOW QUALIFIED that they had in there.

That does not mean that the product was bad.  That's not the case at all.  As a matter of fact, the majority of windows that are Energy Star Rated will not qualify.  The Guidelines to receive the Credit are very strict.  The U-Factor AND Solar Heat Gain CoEfficient BOTH have to be = or Below .30

To get the Scoop I went to visit Bob Birner with Renewal By Andersen Windows.  You may also know Bob as the Host of the Home Improvement Hotline on Sunday morning from 9a-12p.  If you are wanting to change out your windows and reap the benefit of the $1500 - Make sure that you listen in so you are not an angry Tax Payer next year.

 

 

 

 

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Blown-in cellulose is a popular alternative to fiberglass insulation. According to insulation specialist Richard Applegate, cellulose is a natural wood product, and 75 percent of what it's made from is recycled newspaper. Fire-retardant chemical additives give the material a class-1 fire rating, making it a very safe product.

One of the biggest advantages of using cellulose is its performance. In fact, because of its density, it has a higher R-rating than and outperforms many common insulation products. Its loose nature makes it easier to install into irregular spaces, creating a custom-fit monolithic seal over an entire area.

From both health and environmental perspectives, cellulose is considered a "green" product -- more ecologically sound than competing products. It doesn't contain formaldehyde, and cancer warnings are not required on its labeling. Since there are no glass fibers, as with fiberglass insulation, cellulose does not cause itch.


Materials:

Cellulose insulation (amount varies according to coverage area)
Cellulose blower (available to rent at most home centers and lumberyards)
Goggles
Mask
Cap or hat
20" cardboard strips
Stapler
Tape measure
10" metal flashing
Soffit baffles


Safety Alert: Cellulose dust is considered a "nuisance dust" rather than a hazardous material. An ordinary dust mask is sufficient protection but should be worn during the installation process. Goggles are also recommended to keep dust out of the eyes.



Steps:

 

1. Place a plywood walkway down for easy and safe access in the attic.
   
   
   
2. Determine coverage requirements by measuring length and width of your attic space. Determining the square footage of your attic will help you order the necessary amount of cellulose. To simplify measuring in a large attic, take each measurement in two steps. Slide a measuring tape to one side of the attic (eliminating the need to crawl all the way to the edge), and make a mark near the center point on the floor. Then slide the tape to the opposite side, measure out to the mark and add the measurements together. Once you have accurate length and width measurements, multiply the two numbers together to determine the square footage.
   
   
   
3. To keep the attic access free, and avoid blowing cellulose on top of it, place cardboard blocking around the access.
   
   
   
4. With any type of insulation, it's important to keep the insulation material away from recessed lighting fixtures. Use 10" flashing to block off recessed fixtures, maintaining at least 3" of air space between the fixture and the flashing.
   
   
   
5. Also install metal flashing around heating fixtures, chimney flues and any other fixtures that generate heat.
   
   
   
6. Soffit-vent chutes prevent soffit vents from being covered with cellulose, helping to maintain good air circulation in the attic. Use a stapler to install the chutes over the soffit vents.
   
   
   
7. To help determine cost when ordering cellulose, bags of cellulose have charts listing amounts of material needed -- according to specific coverage areas and desired R-values. If you know your coverage area in square feet, and the R-value you'd like to achieve, you can determine the cost by following the chart.
   
   
   
8. Once the amounts have been calculated and the cellulose purchased, work can begin on the process of blowing the material into the attic space with the specialized blower.
   
   
   
9. As the cellulose is blown in, use a tape measure to gauge thickness as you go. In our demonstration, a 16" depth was added to the attic.
   
   
   
10. Work your way away from the farthest corner of the attic, back to the attic access. In this way, you won't need to walk through the cellulose once the job is done.
    
    
    
11. Cellulose is blown in around soffit chutes, but the structure of the chute prevents the cellulose from blocking the soffit vents. Blow the cellulose right around the chute to get full coverage at the edge of the attic.
    
    
    
12. In our demonstration, the center portion of the attic was left exposed and uncovered since this area is to be used for storage and access.

With cellulose insulation, installed according to the Department of Energy's R-value recommendations, homeowners can usually realize a 20 percent to 50 percent savings on their utility bills. In newer homes, with fiberglass insulation already installed, cellulose can be installed over the fiberglass for increased savings.


Cellulose insulation is substantially more economical than fiberglass batts. A project of about 500 square feet would cost between $400 and $500 if professionally installed. For a do-it-yourselfer, the cost for the same area would be around $200. The total job for that area would generally take nonprofessionals about a day to complete.

I was cleaning out my e-mail earlier and I ran across an e-mail I received from a home seller that wanted to know how to get his house listed on Trulia.  When I looked up his address it was already listed with another agent.   So I told him the deal that he needed to ask his agent and that I really couldn't communicate with him because he was under contract. 

He wrote me back with a very simple answer:

"I already tried that.  My agent doesn't know what Trulia is."

I'm in an ornery mood tonight, so just for fun I decided to make a list...

You Might Need A New Realtor If...

... they think Zillow is a foreign word.

... they think Trulia is a disease.

... they think Active Rain is a thunderstorm.

... they canceled their website because they are just so busy with other business.

... they don't know what a blog is.

... the devil-box computer scares them and they don't even use e-mail.

... they think sticking a sign in the yard and not marketing on-line can still sell a house.

... they think text messaging is just for the "young 'uns".

... they think Craig's List must be your nephew's Christmas list.

... they are still using an Apple II.

... your info box is filled with standard, boring MLS input sheets and not custom fliers.

... they listed your house and then suddenly disappeared.

... they think the Internet is a "fad" and continue to work with a chisel and stone.

... they show up with huge, thick MLS books to do your complimentary CMA.

I'm sure I'll think of more later... :)  Feel free to add your own.

 

In today's uncertain economy, credit for traditional mortgages may be more difficult to obtain for buyers, and sellers may have more difficulty finding qualified buyers.  In the early 1980s there were similar conditions, caused not by a lack of credit but by extremely high interest rates.  The lack of mortgages from traditional institutions forced sellers to come up with creative solutions to enable buyers to purchase their properties.

In Lancaster County, PA, Rent to Own, Lease/Purchase and Lease with Option to Purchase were some of the creative solutions developed to work around temporary obstacles.

In certain cases with problem properties, or buyers with temporary problems such as high temporary debt or not enough seasoning on the job, there can be several advantages to a Lease/Purchase or Lease/Option. They are far more powerful than a "glorified lease", as rent-to-own may be.  In Pennsylvania, in case of a default, the original seller may be able to reclaim the property in about 45 days, as opposed to up to a year or more in the foreclosure of an  Installment Sale.  At the same time, the sellers get management and costs of the property off their backs, since properly written up, the lessor/buyer is responsible for all that.  Meanwhile, the buyer gets a guaranteed price for a fixed period of time.  

Of course, buyers must realize that in return for the opportunity to be the equitable owner of such a property, they are in the temporary position of being just a lessor rather than the owner of record.  They will not be the owner of record until they obtain a permanent mortgage, pay off the seller, and the deed passes to them.

Either side can be written up to take the tax benefits, which may be quite advantageous for one side or the other.  I have negotiated many of these.  They are extremely flexible and can address a wide  variety of individual situations.  Most have ended successfully.  In the cases of the ones that didn't, the property went back to the seller, who was, if desired, able to do it again with someone else, sometimes with properties that had actually been improved by the lessor.  

Agents may negotiate to receive a fee upon the settlement for possession, not waiting for the later settlement for deed.  As much work is required of an agent for this type of specialty as for any other real estate transaction, and as much liability as well.  This kind of sale is for sellers who are motivated, not those who are looking for reduced fees.   One caveat for agents is not to go too far in writing "creative" clauses, lest they be accused of practicing law without a license.  An attorney specializing in real estate law should be consulted if needed.  Realtors may pose questions to the Realtor Legal Hotline.

©2009BrianSchulman

According to a recent RealtyTrac report, Phoenix AZ foreclosures have risen more then 25% in the last year.

In fact, more then half of all sales in greater Phoenix AZ (Maricopa County) are foreclosure sales. As a result, Phoenix AZ real estate prices have dropped more than 31% according to the S&P|Case Shiller Index.

What does all this bad news mean to you??

Well, struggling real estate sales can be great news if you are a home buyer or Phoenix AZ real estate or Scottsdale AZ real estate investor.

Usually, cliche’s like ‘be careful of sharks who smell blood in the water’ is used to make buyer beware of quick-buck artists and get-rich quick schemes. However, if you are a real estate investor looking to buy homes in and around greater Phoenix AZ, ask yourself if you can be real estate investment shark?

If so, there are homes listed for short sale, foreclosures and bank owned real estate (REO) that are selling as much as 50% discount prices to the high levels of 2005. Even new Phoenix AZ new home builders are selling inventory specs at or below it cost the builders to actually construct the home.,

here are 5 Phoenix AZ Real Estate Investing Ideas that the millionaire real estate investors are preaching and living by in today’s market.

1. Don’t follow the herd - while everyone else is selling, you may want to buy. You can take advantage of seller paranoia, fear and over-reaction of emotion. You still need to be prudent and know that you are likely not going to be buying at the absolute bottom of the market, but you can get a great piece of real estate at steeply discounted prices.

2. Dont’ be afraid to make mistakes - let me be clear. You will not make money on every investment you ever make. Anyone who tells you that they have, is likely lying. The key is to make investment decisions with sound, prudent investment strategies and don’t risk money you cannot afford to lose. Think, ‘don’t put all your eggs in one basket’ If you diversify and protect your money, you will have a high likelihood of making money over time.

3. Do not be afraid to say ‘No”- Do not fall in love with any one house, stock or any one investment. Make sure you make offers based upon your investment strategy. Do not chase seller counter-offers. If so, you are letting seller dictate your investment strategy. There is no last deal. There is no ‘last’ opportunity. If a deal appears too good to be true, it most often is!

4. Cash is king - if you are a cash buyer, you have a tremendous amount of leverage in getting offers accepted in a credit crisis in which sellers are well aware of the limited amount of borrowers who can qualify for a loan even if they want to buy. Further, protect your cash, do not ‘go all-in’ as they say in poker. Always, keep reserves should you need to hold-on to investments longer then your strategy had outlined or should another investment opportunity present itself.

5. Slow and steady win the race - turn off late night television. Those get-rich investment programs touted by modern day snake-oil salesman are just that. If they worked, these guys would be following their own advice, not selling books for $79.9. Real Estate investing works.

However, it takes time, lots of time, patience and learning from your mistakes. Rome wasn’t built over night , the pyramids were not built in a day. And, you cannot build your fortune quickly either. Again, real estate investing is not for all people. Make sure you only take investment advice from a real estate attorney or experienced real estate agent who has real estate investment representative.