Real Estate Investing

I don’t know diddly squat about changing light fixtures … or really anything about any kind of electrical work.  Sadly, my Dad was an electrician before he retired.  It just scares me.  The idea of messing something up which could cause a fire is a doozy. Worse is the possibility that I could shock (or electrocute) myself!

HOWEVER.  I’m sitting in my living room staring up at my outdated ceiling fan.  I preach to people that changing light fixtures will add value to a home.  Seeing updated ceiling fans, globe lights, porch lights, and more really do make buyers feel a home has been cared for when a seller bothers to do that much.

My ceiling fan is ugly.  It’s got the mesh-like center to the blades.  The globes are round with flowers.  One is cracked.  I want a new ceiling fan in my living room!  So I’ve sauntered over to a Do-It-Yourself site and have read the instructions.

First turn off the power and then proceed to remove the current light fixture - take off the globe or diffuser and the bulb(s). There will either be screws or a cap nut holding the canopy in place - remove these as well and drop the fixture down. Disconnect the black and white wires and check their insulation for cracks.

It looks like all I need to do is connect the new fixture’s black and white wires and then screw it back into the ceiling or remount it if necessary.  I might be able to handle that.

But it won’t be next week.  I’ll be in Washington, DC traipsing around with my sister and brother.  My sister has never been to the nation’s capitol so I get to show her the ropes.  We’ll be riding the metro into the mall area from Alexandria, Virginia.  I hope to write once or twice next week to keep you posted, but if you don’t see me here every day, you’ll know why.

Hope your weekend is marvelous!

Photo courtesy of levantarmialma via Flickr Creative Commons.

It seems like the purchase and sales contract sanctioned by our state’s real estate commission changes every year.  The 2009 contract has one change that agents should pay extra attention to.

In most contracts, buyers have three options to get out of the contract:

1. Financial Contingency - If buyer is unable to get financing to purchase the house (no loan because of credit, debt to income, or other issues), clearly the contract is voided because it’s not enforceable without the funds to buy.
2. Appraisal Contingency - If the home is worth less than the contract price, the lender is highly unlikely to provide funding for a home in excess of the actual value.
3. Inspection Contingency - The buyer will want to have the home professional inspected to insure against a major malfunction or problem.

It’s in this inspection contingency  that a major change has been made to our state contracts.  Previously a line was provided for the buyer and seller to negotiate how much money could be spent on potential repairs should problems be identified.  The amount line is now absent which means that unless the seller’s agent thinks to add a limit, the buyer could ask for *all* repairs no matter the cost.

Having an amount is also a tool for an agent to review what repairs a seller could be expected to make, while also confirming that cosmetic concerns are not considered a part of the repair costs.  However when no amount is specified, it does open up the negotiation process for both the buyer and seller.  In this case, it’s urgently important for agents to have experience in making the contract work for whichever client they represent.

Photo by Jeff Crist via Flickr Creative Commons.

Holy red barn and french fries, Batman, it’s COLD outside!  Moderate southern temperatures have spoiled me, I think, because this arctic blast that’s enveloped the south and the midwest has even this perpetually hot-flashing woman wearing sweatshirts and socks to work these days.

And if our electric bill last month is any indication, we MUST do something to keep the house warm without paying out the nose to do it!  To that end, I’ve searched the internet high and low to find tips and ideas to keep the pups, kittens, and kids toasty without busting the budget.

Twinklev of the Blue House Blog writes that adding socks and blankets to snuggle under will help, but more seriously the insulation and storm windows are being checked.

I looked through the List to see if I could find anything to help with this problem and sure enough, I found some answers. I’m checking out storm windows and some new insulation in a few days, hoping that maybe, I’ll get my house to a balmy temp before I turn into a popsicle!

From WRDW in Augusta, Georgia,

With the temperatures getting down to the single digits - it is a good idea to cover outdoor exposed faucets. There are items you can buy at a supply store that will help insulate the faucet heads.

Local plumbers also say its a good idea to leave water dripping to keep a steady flow of water,but they also offer this advice if you’re not home to turn on the faucet.

Ice damming is nasty side-effect of cold weather that happened to my Mom and Dad a couple of years ago.  They now have a giant brown spot on the ceiling of their family room.  From The Pharos-Tribune in Logansport, Indiana,

Ice damming occurs after several days of freezing and thawing cycles and is common when gutters are frozen with ice or snow. Despite temperatures not reaching above 32 degrees, sunlight can still melt ice underneath a layer of snow on a roof. The water then has nowhere to go so but up under the roof shingles until it enters the attic, damaging ceilings, walls and contents of a home.  State Farm offers several tips for homeowners to prevent ice damming… read the tips here.

Over at Mommy Goggles, Tanya (who I got the fireplace picture from) offers several good suggestions for keeping your home warm,

Regularly maintain your furnace and water heater. Regular maintenance on your furnace and water heater will increase energy efficiency in your home. By combining proper equipment maintenance and upgrades with appropriate insulation, air sealing, and thermostat settings, you can cut your energy use for heating and cooling, and reduce environmental emissions, from 20 percent to 50 percent.

Finally Peek-a-Boo Street gives ideas on warming up the house AND the kids,

* Use safe space heaters during the day.
* Light some big candles.
* Bake cookies.
* Close doors to rooms that aren’t heated.

Meanwhile, to anyone looking for a home right now, going outside to house-hunt can wait a day or two until the cold passes - spend your time looking online!  Try to stay warm, everyone!