Precautions for Hurricane Safety in your Connecticut Home

Hurricane season is here, and although we are not welcoming "Hurricane Irene", we all should prepare for her wrath. Assuming you can, or choose to stay in your home during the storm, here are some safety tips for you:

  * Plan routes to emergency shelters and register family members with special needs with local authorities.

* Be sure you have several days’ supply of any prescriptions that you or family members are taking.

 * Have on hand a three-day supply of water for each person (one gallon per person, per day), along with food that doesn’t require refrigeration, flashlights, a battery-operated radio and a first aid kit.

* Make plans for pets. Have extra food on hand, as well as any medications they need.

* Have extra batteries, a radio, candles and matches  on hand

* Bring inside items that can be picked up by the wind. 

* Turn off any propane tanks and unplug small appliances.

* Fill your vehicle’s gas tank.  

* If high winds are in the forecast for your area, close windows, doors and hurricane shutters. If hurricane shutters are not an option, close and board up windows and doors with plywood.

* As the storm nears, turn the refrigerator and freezer to the coldest settings and keep them closed as much as possible so food will last longer if the power goes out.

Here are some useful links:

Precautions_to take before a_hurricane_hits

Additional Safety Tips

Safety Tips for Pool Owners

Connecticut Mortgage Rates and Financing Update August 26, 2011

Now more than ever, it's imperative to compare rates, as the big lenders have pipelines full of loans for refinances, they have raised their rates to control their pipelines, and do not show signs of lowering them.  Also, with the market moving at break neck speed the bigger lenders are much slower to update and reprice their loan products. 

This Week's Financial News

MBS dipped from 104  to 103 -16 at super sonic speed. 10 year yields rose from 2.13 to 2.21 in the same instant. Why? Over the last 3 Jackson Hole days 10 yr yields have swung an average of 16 bps.   The fact that recent swings in 10 year yields took them exactly to a technical level and a supportive bounce reinforces the current marketing thinking there is no reason to panic. Fannie 4.0's are back to 103-30 now. 10 year yields are at 2.188.  

“With average prices on distressed real estate trending down and average discounts trending up, this report is clearly good news for well-positioned buyers and investors looking for bargain real estate that will build them wealth in the long term and often cash flow as rental real estate in the short term,” said James Saccacio chief executive officer of RealtyTrac. “Maybe less evident, however, is the good news in this report for distressed homeowners looking to sell, and even lenders saddled with large portfolios of delinquent loans."  

(Reuters) - Federal Reserve Chairman Ben Bernanke on Friday stopped short of signaling further action to boost growth, but said it was critical for the economy's health to reduce long-term joblessness. "It is clear the recovery from the crisis has been much less robust than we had hoped," he said in remarks prepared for delivery to an annual Fed retreat. Bernanke said the Fed will meet for two days in September instead of the planned one to mull its options to provide additional monetary stimulus, among other topics. The Fed chairman said reducing the record high level of workers who have been unemployed for six months or more would help achieve stronger U.S. economic growth. "Under these unusual circumstances, policies that promote a stronger recovery in the near term may serve longer-term objectives as well," he said. (Reporting by Mark Felsenthal; Editing by Neil Stempleman)

Bernanke spoke at this same conference a year ago amid similar fears, and laid the groundwork for an aggressive bond-buying program by the Fed. Some hoped for a similar monetary boost this year. But with inflation inching up, Bernanke has less room to maneuver.

Today's Mortgage Rates

30 year fixed - 4.125% + ..50 points for rate
20 year fixed - 3.75% + .375 lender credit  points for rate
15 year fixed - 3.250% + 0 points for rate
10 year fixed - 3.250%  0 points for rate
5/1 ARM - 2.625% - 0 points for rate
7/1 ARM - 3.00%  + 0 points for rate

FHA/VA
30 year fixed - 4.250% +  0 points for rate
5/1 ARM  - 2.75+  0 points for rate
7/1 ARM - 3.250 + 0 point for rate

Jumbo - over 729,000  up to 2,000,000 with 20% down on purchase
30 year fixed - 4.750 % with +.50 cost  points  for rate
15 year fixed - 4.375 % + 0   points for rate
5/1 ARM - 3.375 % + 0 points for rate
7/1 ARM - 3.75% + 0 points for rate

10/1 ARM -  4.375% with + 0 points cost for rate

Jennifer Buchanan,  Certified Mortgage Planning Specialist at MetLife Loans is a seasoned veteran of the Mortgage, Banking and Broker Industry and specializes in mortgage loans throughout Fairfield County, Connecticut.
   Her attention to detail is unsurpassed, and her understanding of the marketplace makes it easy to find the right loan to fit her clients specific needs .  Jennifer's local processing and closing team are also known for their exemplary service.
   Understanding that the vast majority of mortgage brokers never discuss the long or short term  financial needs or goals with their clients, she set herself apart from the rest by obtaining the coveted CMPS  designation. (Certified Mortgage Planning Specialist)
    She is a member of the National Association of Responsible Loan Officers, and her commitment to ethics, understanding of the marketplace, and business acumen have earned her the respect of her peers and clients alike.

Jennifer Buchanan
Metlife Loans
203-341-6949

Communication is Key when Selling a Tenant Occupied Property

For Landlords: Selling your home when a tenant is occupying the premises.

In the last several years, many homeowners who were unsuccessful in selling their home at their desired asking price, opted to rent their home.  This was a new arena for many.    Being a landlord is not for the weak at heart.  There is a good amount of work involved but in many instances it can be a profitable venture and also there can be some substantial tax advantages when the property is eventually sold.  The property can be depreciated, but be careful there are certain holding periods and one should always speak to their accountant to make sure the timing is correct to reap the tax advantages.

When the time comes that the property owner lists the home on the real estate market, there must be good communication between the Homeowner and the Tenant regarding the Tenant vacating the premises.  If the Buyer of the property is looking for an investment property, having a property with a rock solid rental history is key.  However, if the Buyer is purchasing the home as his or her’s primary residence, the property must be vacated before the closing.  This is when the situation gets tricky.  The Seller wants to maximize on the rental income and does not want the property vacated until the Buyer has his/her mortgage commitment but that usually occurs days before the actually closing.  The Seller/Landlord must give notice as required by the lease and if there is no lease than a minimum of 30 days.    The last thing anyone wants to get involved with is an eviction proceeding.    Communication is key between the Seller and the Tenant.

Attorney Felicia B. Watson

FeliciaWatson@sbcglobal.net

Geothermal Heating and Cooling Systems in Your Connecticut Home

Geothermal systems are home heating and cooling systems that gather heat from the earth. Geothermal heat pumps (GHPs) use the relatively constant temperature of sub-surface soil as the exchange medium.

Geographical Distribution

• As of 2004, five countries -- El Salvador, Kenya, the Philippines, Iceland and Costa Rica -- generate more than 15% of their electricity from geothermal sources. In Iceland, geothermal energy is so cheap that some sections of pavement are heated.
• In the United States, roughly 50,000 geothermal heat pumps are installed every year. The U.S. leads the world in geothermal exploitation.
• The combined production of geothermal energy for all uses places third among renewable energy sources, following hydroelectricity and biomass, and ahead of solar and wind.

Where does geothermal energy come from?

 

Beneath the Earth's crust, there is a layer of hot, molten rock called magma. Heat is continually produced there, mostly from the decay of naturally radioactive materials, such as uranium and potassium. The amount of heat within the first 33,000 feet (or 10,000 meters) of the Earth's surface contains 50,000 times more energy than all the oil and natural gas resources in the world combined.

Benefits of Geothermal Energy:

• energy efficiency. GHPs require 25% to 50% less electricity than conventional heating and cooling systems. According to the EPA, geothermal heat pumps can reduce energy consumption — and corresponding emissions — up to 44%, compared to air-source heat pumps, and up to 72%, compared to electric resistance heating with standard air-conditioning equipment.
• design flexibility. Geothermal heat pump systems can be installed in both new and retrofit construction. Equipment rooms can be scaled down in size because the hardware requires less space than is needed by conventional HVAC systems. GHP systems also provide excellent "zone" space conditioning, which allows different parts of a home to be heated or cooled to different temperatures.
• durability. Since GHP systems have relatively few moving parts and the parts are sheltered inside a building, the systems are durable and reliable. The underground piping often carries warranties of 25 to 50 years, and the heat pumps can last more than 20 years. The components are easily accessible, which helps ensure that the required maintenance is performed on a timely basis.
• noise reduction. As they have no outside condensing units (such as those in air conditioners), there's no noise outside the home. Geothermal heat pumps are so quiet inside of a house that users may not be aware they are operating.

How do geothermal systems work?

A geothermal heat pump, unlike a furnace, does not create heat by burning fuel. Instead, it collects the earth's natural heat through a series of pipes, called a loop, installed below the frost line. At that depth, which varies by climate zone, the soil remains at a relatively constant temperature throughout the year. Fluid circulates through the loop and carries heat to the house. There, an electrically driven compressor and a heat exchanger concentrate the heat and release it inside the home at a higher temperature, where ductwork distributes the heat to different rooms. In summer, the underground loop draws excess heat from the house and allows it to be absorbed into the earth. The system cools the home in the same way that a refrigerator keeps food cool -- by drawing heat from the interior, rather than by forcing in cold air.

Types of Systems

According to InterNACHI, there are four basic types of geothermal systems. Selection of the most appropriate system depends on the climate, soil conditions, available land, and local installation costs at the site. All of these systems can be used for residential and commercial building applications. They include:

• horizontal:  This type of installation is generally the most cost-effective for residential installations, particularly for new construction where sufficient land is available. The most common layouts use either two pipes (one buried at 6 feet, and the other at 4 feet), or two pipes placed side-by-side buried 5 feet in the ground in a 2-foot wide trench.
• vertical:  Large commercial buildings and schools often use vertical systems because the land area required for horizontal loops is prohibitive. Vertical loops are also used where the soil is too shallow for trenching, and they minimize the disturbance to existing landscaping. For a vertical system, holes (approximately 4 inches in diameter) are drilled about 20 feet apart and 100 to 400 feet deep. Two pipes are inserted into these holes and connected at the bottom to form a loop. The vertical loops are connected to the heat pump in the building.
• pond/lake:  A supply-line pipe is run underground from the building to a body of water and coiled into circles at least 8 feet under the surface. In order for the body of water to be adequate, it must meet minimum volume, depth and quality criteria.
• open-loop system:  This type of system uses well or surface water as the heat exchange fluid that circulates directly through the GHP system. Once it has circulated through the system, the water returns to the ground through the well, a recharge well, or surface discharge. This option is practical only where there is an adequate supply of relatively clean water, which must comply with local codes and regulations regarding groundwater discharge.

Cost

A geothermal system usually costs about $2,500 per ton of capacity. A typical home uses a 3-ton unit costing roughly $7,500. That initial cost is nearly twice the price of a regular heat pump system that includes air conditioning. The cost of drilling, however, can be considerable; drilling can cost in excess of $30,000, depending on the terrain and other local factors. Systems that require drilling vertically deep into the ground will cost much more than systems where the loops are in a horizontal fashion and closer to the surface. Despite these initial costs, a geothermal system saves enough on utility bills that the investment is often recouped in five to ten years.

In summary, geothermal systems heat and cool homes using sub-surface soil as an exchange medium. Geothermal systems are more expensive to install than conventional furnaces, but their operating costs are significantly lower. 

 

Article submitted by

 Nick Gromicko, Rob London and Kenton Shepard 

Nick Gromicko, FOUNDER. http://www.nachi.org
International Association of Certified Home Inspectors (InterNACHI) is the world's most elite, non-profit inspection association.
President, ComInspect, www.cominspect.com
Director, Master Inspector Certification Board, www.certifiedmasterinspector.org
Author, 15 books and Co-Host of  http://www.NACHI.TV

Is your home EVER going to sell? How long does it take?

If sellers only knew  what their agent WASN'T doing to sell their home, they would be appalled. Trust me, other agents can spot a lack of professionalism a mile away, and it translates right down to YOUR property, YOUR sales price, and YOUR Bottom line.

In  reviewing some listings in the three million dollar plus range for a client of mine, I ran across some rather elementary attempts at marketing, especially given the styling and features of the homes being presented.  That is certainly not to say that if your home's listing price is $50,000  that you shouldn't get good service, or great marketing. Of course you should!  The feeble attempts at marketing from so-called professionals are positively abominable, in my opinion. No wonder why so many homeowners get discouraged.

You as a homeowner, have the ability to change that.  Look at your marketing materials and your home's presentation as if you were a buyer. Does the short listing description make you want to know more about the house? Does it make you want to see that property? If  you don't see important marketable features of your home highlighted, or just see some fluffy description that really doesn't catch your eye, have your agent change it. OR CHANGE AGENTS. You lose money every day that your home is available for sale and mis-marketed, and the loss compounds over time, even if the market doesn't change.

You would think that maybe, just maybe... the listing agents would put as much information in the listing as they could. Everyone knows that we don't get paid unless the house gets sold.

Well,  think again. Misquoted square footage. misquoted taxes, impressive home features left completely out of the listing, not enough pictures, poorly presented photos, no room measurements, no room descriptions, Poorly worded and grammatically incorrect remarks. It goes on and on.

I can go on here, too. ( I know I am passionate about this- I really was taken aback after looking at these listings earlier.) Have you checked out your home on Realtor.com? Your agent can amend the description here, too. It doesn't take long, and it can make a world of difference. What about your agent's personal website? Is your home featured there? You would think this is Standard Operating Procedure, but guess what?  It may not be for that agent!  Do you happen to know what percentage of  agents haven't updated their personal site in the last six months?  That number is close to 60 percent!

If the agent is NOT taking care of their professional presence on the internet, how can they take care of you?

If you want your home to get the best marketing possible, by an experienced agent, it's time to contact me. It's time to get your home sold by an agent who cares how they market your property.

I am in the business of selling homes, and I'd like to be in business with you. Contact me today to get your home IN the Market, and I WILL get your home sold.

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