home selling – Buy/Sell in Kern County

Make Your House FHA-Loan Friendly

By: Terry Sheridan Published: June 2, 2010 Know the basics of FHA loan rules and you stand a better chance of selling your house or condo. Make your house FHA-friendly, and it will appeal to more homebuyers. Why? Because the Federal Housing Administration is insuring the mortgage loans used by about 30% of today’s homebuyers. … Continue reading “Make Your House FHA-Loan Friendly”

By: Terry Sheridan

Published: June 2, 2010

Know the basics of FHA loan rules and you stand a better chance of selling your house or condo.

Make your house FHA-friendly, and it will appeal to more homebuyers. Why? Because the Federal Housing Administration is insuring the mortgage loans used by about 30% of today’s homebuyers.

If your house passes the FHA rules, it will appeal to buyers who plan to use an FHA-insured mortgage. If your house doesn’t qualify for an FHA loan, you’re cutting out 30% of potential buyers.

FHA is especially important to first-time homebuyers and those with small downpayments because it allows borrowers with good credit to make a downpayment as low as 3.5% of the purchase price.

Here’s how to make your home appealing to FHA borrowers:

Know the FHA loan limits in your area

Start by checking to see if your home’s listed price falls within FHA lending limits for your area. FHA mortgage limits vary a lot. In San Francisco, FHA will insure a mortgage of up to $729,750 on a single-family home. In the White Mountains of New Hampshire, the loan limit is $271,050.

Home inspections

Most buyers will ask for a home inspection, whether or not they’re using an FHA loan to buy the home. You must give FHA buyers a form explaining what home inspections can reveal, and how inspections differ from appraisals.

How much do you have to repair?

If the home inspection reveals problems, FHA will not give the okay to buy the home until you repair serious defects like roof leaks, mold, structural damage, and pre-1978 interior or exterior paint that could contain lead.

Dealing with FHA appraisers

Help the lender’s appraiser by providing easy access to attics and crawl spaces, which usually must be photographed, says appraiser Frank Gregoire in St. Petersburg, Fla.

Your buyer can hire his own appraiser to evaluate your home. But FHA only relies on reports by its approved appraisers. If the two appraisals conflict, the FHA appraisal preempts the buyer’s appraisal.

Help with FHA closing costs

Most FHA buyers need help with closing costs, says mortgage banker Susan Herman of First Equity Mortgage Bankers in Miami. So a prime way to make your house FHA-friendly is to help with those costs.

FHA currently allows sellers to pay up to 6% of the sales price to help cover closing costs, but is considering lowering that limit to 3% in the fall of 2010.

If you’re selling a condo

FHA also has to approve your condo before a buyer uses an FHA loan to purchase your unit. Be sure your condo is FHA-approved for mortgages. The list has been updated, so if your association was approved a year ago, check again to make sure it’s still on the approved list.

FHA generally won’t insure loans in condo associations if more than 15% percent of the unit owners are late on association fees. Ask your property manager or board of directors for your association’s delinquency rate.

Other rules cover insurances, cash reserves and how many units are owner-occupied and the types of condos that can be purchased with an FHA mortgage.

FHA sometimes issues waivers for healthy condominiums that don’t meet the regular rules. If your condo isn’t FHA-approved, it doesn’t necessarily have to meet every single rule to gain approval. Ask your REALTOR® to consult with local lenders about getting an FHA waiver for your condo if it doesn’t meet all the requirements.

FHA also limits its mortgage exposure in homeowners associations. With some limited exceptions, no more than 50% of the units in an association can be FHA-insured.

FHA loans for planned-unit developments

FHA no longer requires lenders to review budgets and legal documents for planned-unit developments.

10 Steps to a Perfect Exterior Paint Job

By: Joseph D’Agnese Published: March 11, 2011 Painting the exterior of your home is a big job that costs thousands in the hands of a professional. But you can save money if you invest the time to do it yourself correctly. Old wood siding, fast becoming a dinosaur in new construction, regularly needs the protection … Continue reading “10 Steps to a Perfect Exterior Paint Job”

By: Joseph D’Agnese

Published: March 11, 2011

Painting the exterior of your home is a big job that costs thousands in the hands of a professional. But you can save money if you invest the time to do it yourself correctly.

Old wood siding, fast becoming a dinosaur in new construction, regularly needs the protection of a new coat of paint.

A professional will charge you between $4,000 and $6,000 to paint a 2,000-square foot, two-story house. But you can do it yourself in a few weekends for the cost of paint and supplies.

A good paint job can last 10 years. The key is proper preparation. Here are 10 steps to take to make sure your exterior paint job looks great, adds value to your home, and lasts a long time.

Step 1: Get the lead out

Do-it-yourselfers are not obligated to follow EPA regulations for lead-safe practices, as professional paint contractors must. But if your home was built before 1978, when lead paint was banned for residential use, you should protect yourself and your neighbors from airborne lead particles.

The first step is to test for lead paint: Kits are available for $10 to $35 online, and at paint and hardware stores. If tests prove positive for lead, keep paint dust to a minimum by taking the following precautions.
Lay plastic drop cloths and collect scrapings.
Clean area with a HEPA vacuum.
Wear masks and Tyvek suits.
Dispose of all materials at an approved hazardous materials site.

Read on to learn more:

2. Wash the exterior
3. Scrape off loose paint
4. Sand rough spots
5. Fill and repair
6. Apply primer
7. Caulk all joints
8. Choose the right paint
9. Apply top coat(s)
10. Practice good maintenance

Step 2: Wash the exterior

Mildew thrives under fresh paint, which won’t adhere well to dirty, grimy, spore-sporting exterior walls. So wash your home’s exterior before painting.

Use a mix of water and a phosphate-free cleanser such as Jomax House Cleaner ($15 per gallon) and Mildew Killer Concentrate ($8.50 for 32 ounces).

You can hand-apply the solution with a sponge, which will take forever and many trips up and down the ladder. Or, hire a pro to pressure wash siding–not a task for an amateur, who can damage siding by pushing water under boards. (Cost varies by location: $150 to $750 for a professional to pressure wash the exterior of a 2,100-square-foot house.)

Step 3: Scrape off loose paint

Once clapboards are dry, remove loose, flaking paint.

A handheld scraper is usually the best tool for the job, though you can also use a hot-air gun or infrared paint stripper. Never use an open-flame torch, which can easily start a fire and is illegal in most states unless you have a permit.

To work lead-safe, wear a mask and Tyvek suit, spray water on the paint as you scrape, and collect the debris.

Step 4: Sand rough spots

A pad sander or random-orbit fitted with 80-grit sandpaper will smooth out any remaining rough spots. Take care not to push so hard that you leave sander marks in the wood.

To be lead safe, use sanders fitted with HEPA filters.

Step 5: Fill and repair

After washing, scraping, and sanding your wood siding, step back and inspect what you’ve uncovered–holes, dings, and chips.

Fill minor holes or dings in the siding with a patching putty or compound such as Zinsser’s Ready Patch ($20 per gallon).

If you’ve got a major rot problem, summon a carpenter to replace the bad wood. Also, fix drainage problems that cause water to pool and promote rot.

Step 6: Apply primer

Apply primer immediately after preparing wood siding.

White, gray, or tinted primer provides an even base for topcoats to adhere to, and a uniform canvas from which to survey your work. Small gaps in joints and around doors, windows, and other spots where horizontals meet verticals will all stand out in high relief, showing where you need to fill in with caulk.

If you’re painting over bare wood or existing latex paint, then latex primer is fine. But if you’re painting over multiple coats of oil-based paint, it’s best to stick with a new coat of oil-based primer.

Step 7: Caulk all joints

Siliconized or top-of-the line polyurethane acrylic caulks give paint jobs a smooth, pleasing look. But the benefits aren’t purely aesthetic. Tight joints also prevent air leaks and block water penetration.

Spring for the $7-a-tube polyurethane caulks with 55-year warranties, which will stand up to weather better than 35-year caulks that cost less than $3. The average house requires about seven tubes of caulk.

Step 8: Choose the right paint

Painting with water-based acrylic latex is so much easier than dealing with oil-based paints. Latex paint:
Applies easily
Dries quickly
Cleans up with soap and water

If your house already sports an oil-based paint, which is more durable than latex, you’ll have to stick with it.

Choose finishes carefully. As a rule, the higher the sheen, the better the paint is at blocking the sun’s damaging rays. Satin is fine for shingles or clapboards, but you’ll want gloss paint to protect high-traffic parts of a house, such as window casings, porches, and doorframes. A gallon of premium exterior latex costs $35 to $45.

Step 9: Apply top coat(s)

Less is more when it comes to applying top coats. More layers can result in paint flaking off through the years; less paint bonds better to layers beneath.

If you’re going from a white house to yellow or cream, you might be able to get by with one coat. Going from a light to a dark house, and vice versa, usually requires two coats.

Step 10: Practice good maintenance

You can extend the life of a good paint job by:
Inspecting the caulk every year and replacing any that’s cracked or missing.
Removing mold or mildew.
Washing stains from nesting birds and pollen.
Touching up blisters and peels before they spread.

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Outdoor Lighting for Curb Appeal and Safety

By: Dave Toht Published: March 18, 2010 Well-planned outdoor lighting improves curb appeal, safety, and security for your home. Think about it: Most of your guests (and if your home is on the market, many would-be buyers) see your home only in the evening, when its best features may be lost in the shadows. Well-executed … Continue reading “Outdoor Lighting for Curb Appeal and Safety”

By: Dave Toht

Published: March 18, 2010

Well-planned outdoor lighting improves curb appeal, safety, and security for your home.

Think about it: Most of your guests (and if your home is on the market, many would-be buyers) see your home only in the evening, when its best features may be lost in the shadows.

Well-executed outdoor lighting enhances architectural detail and plays up landscape features, casting your home in the best possible light and adding an abundance of curb appeal.

Outdoor lighting also adds value. Judith Patriski, an appraiser and owner of Quad Realty Co. near Cleveland, estimates that for upper-bracket homes, an investment in outdoor lighting can yield a 50% return. “When you pull into a driveway and see a gorgeous home, you’re going to pay more for it,” says Patriski.

And she emphasizes that it’s not only about aesthetics: “In all price ranges, lighting for security is important” — to protect against both intruders and falls. Here are the elements of successful outdoor lighting.

Mimicking Moonlight

Much of the success of exterior lighting hinges on its design. Hang around lighting designers long enough and you’ll hear a lot of talk about “moonlight effect.” That’s a naturalistic look that features light no more intense than that of a full moon, but still strong enough to make beautiful shadows and intense highlights.

Other techniques outdoor lighting designers use:
Highlight trees. Whether illumined from below or given presence by a light mounted in the tree itself, trees make stunning features.
Use uplights. Uplighting is dramatic because we expect light to shine downward. Used in moderation, it’s a great way to highlight architectural and landscaping features.
Have a focus. The entryway is often center stage, a way of saying, “Welcome, this way in.”
Combine beauty and function. For example, adding lighting to plantings along a pathway breaks up the “runway” look of too many lights strung alongside a walk.
Vary the fixtures. While the workhorses are spots and floods, designers turn to a wide range of fixtures, area lights, step lights, and bollards or post lights.
Stick to warm light. A rainbow of colors is possible, but most designers avoid anything but warm white light, preferring to showcase the house and its landscape rather than create a light show.
Orchestrate. A timer, with confirmation from a photocell, brings the display to life as the sun sets. At midnight it shuts shut down everything but security lighting. Some homeowners even set the timer to light things up an hour or so before dawn.

Adding Safety and Security

Falls are the foremost cause of home injury, according to the Home Safety Council. Outdoors, stair, and pathway lighting help eliminate such hazards.

Often safety and security can be combined. For example, motion-detecting security lighting mounted near the garage provides illumination when you get out of your car at night; the same function deters intruders. Motion-detecting switches can also be applied to landscape lighting to illumine shadowy areas should anyone walk nearby.

Even the moonlight effect has a security function: Soft, overall landscape lighting eliminates dark areas that might hide an intruder, exposing any movement on your property. Overly bright lights actually have a negative effect, creating undesirable pockets of deep shadow.

Switching to LEDs

Once disparaged for their high cost and cold, bluish glow, LEDs are now the light source of choice for lighting designers. “They’ve come down in price and now have that warm light people love in incandescent bulbs,” says Paul Gosselin, owner of Night Scenes Landscape Lighting Professionals in Kingsland, Texas. “We haven’t installed anything but LEDs for the last year.”

Although LED fixtures remain twice as expensive as incandescents, installation is simpler because they use low-voltage wiring. “All in all, LEDs cost only about 25% more to install,” Gosselin says. “And they’ll save about 75% on your electricity bill.”

Another advantage is long life. LEDs last at least 40,000 hours, or about 18 years of nighttime service. With that kind of longevity, “why should a fixture have only a two-year warranty?” asks Gosselin. He advises buying only fixtures with a 15-year warranty — proof that the fixture’s housing is designed to live as long as the LED bulbs inside.

Related: LEDs Aren’t Cheap: Here’s How to Get the Most for Your Money

Innovations

The growing popularity of exterior lighting has led to innovative fixtures. Here are some bright new ideas:
Solar lighting: When first introduced, solar pathway lights produced a dull glow that rarely made it through the night. They do much better now that they are equipped with electricity-sipping LEDs, more efficient photovoltaic cells, and better batteries. Still, they have yet to measure up to hard-wired systems.

Related: Get Solar Lighting Tips
Hybrids: Porch lights now come equipped with LED lighting for all night use, and a motion sensor that clicks on an incandescent bulb to provide extra illumination as you approach the front door. Hybrids use about 5% of the power a solely incandescent fixture requires.
Barbecue light: Tired of grilling steaks by flashlight? Now you can buy a gooseneck outdoor light, ideal for an outdoor kitchen.

Estimating the Cost

Total outdoor lighting costs will vary according to the size of your home and the complexity of your lighting scheme. Expect to pay about $325 for each installed LED fixture. LEDs also require a transformer to step the power down from 120 volts to 12 volts, running about $400 installed.

A motion detector security light costs about $150 installed. Porch lights and sconces range from $100-$250 installed, depending the fixture and whether running new cable is necessary.

Contractor-installed outdoor lighting for an average, two-story, 2,200 sq. ft. house might add up as follows:
7 fixtures to cover 100 feet of LED pathway lighting: $2,275
Transformer: $400
4 LED uplights to dramatize the front of the house: $1,300
2 LED area lights for plantings: $650
2 motion detector security lights: $300

Total cost: $4,925

Related: Find Out How Much Value Landscaping Can Add to Your Home

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