Wednesday, December 19, 2007

Remove gummy floor tiles, fix plaster walls

Q: I have two questions about remodeling my old house. First, I need to remove some floor tiles from an oak hardwood floor prior to refinishing it. There are no asbestos issues, but the tiles are pretty well stuck down with a black, gooey material. Any suggestions? Second, I have plaster walls in a small room and would like to apply a light texture to cover some minor cracks. What should I use? Thanks! --Dan W., via e-mail

A: For your floor tiles, a heat gun should be your best bet. Commercial heat guns are available from retailers of floor-covering supplies and from some home centers, or you can rent one at most rental yards. The important thing is to provide adequate ventilation and to work slowly in one very small area at a time. DON'T OVERHEAT ANYTHING -- working too fast or with too much heat can create a very definite fire hazard! As you heat the tile, use a small, stiff scraper or putty knife to lift the softened adhesive as well as the tile, taking care to avoid gouging the wood. Wear gloves, and clean the scraper frequently with a rag while the glue is still soft.

For texturing your plaster, you have a couple of options. You could rent a texture hopper and compressor from any rental yard and spray on drywall texture, but this requires a little bit of practice first, and you have to completely mask off all surfaces not being textured. In your case, an easier solution would be to add some texture mix to the paint you're going to use on the walls. The texture is similar to fine sand, and you save time and money by applying both the paint and the texture at the same time. All of the above materials are available from most home centers and paint stores.

Q: I know that protective eyewear is important, but I haven't been able to find anything that fits me comfortably. Do you have any suggestions? --Nick D., via e-mail

A: Unfortunately, problems with comfort are all too common, and this is the main reason many people -- even professional contractors -- don't wear safety eyewear as often as they should. My best suggestion is to avoid the home centers and discount houses and instead check out a retailer in your area that specializes in professional safety equipment; they can usually be found in the Yellow Pages under Safety Equipment and Clothing. Go in personally, and try on all of the different protective eyewear they carry. Some people have found that ventilated glasses work, others use different forms of goggles, and still others have good luck with face plates that flip up out of the way when not in use. The only way to find something that works for you is to try on different ones, then buy one or two and use them on the job. It's well worth the investment in both time and money!

Q: I own a 1929 home, and I think I read somewhere that airless paint sprayers have the tendency to fill in all the grooves in old wood siding, leaving the surface totally flat. I need to paint my house and I don't want to loose the "vintage" look of the old siding, but I can certainly appreciate the time savings of spraying instead of having to use a brush. I enjoy your column, and would appreciate your opinion for "this old house" of mine. --Dave T., via e-mail

A: If done correctly, airless sprayers put on a fairly light and very uniform coat of paint. They actually apply less paint than a brush or a roller typically does, so I would see no risk that any desirable features on your old siding would be filled in. I have used airless sprayers on many types of siding with fairly subtle surfaces, and the airless didn't do anything to diminish the appearance of the grain pattern.

You might, however, want to practice a little bit first. If you have an unobtrusive spot on the house -- or on a shed, garage, etc. -- you might want to try the airless out there first to get a feel for it and see what you think of the results. You can also try it on an old piece of plywood or siding that has similar grooves.

If you do feel the sprayer is putting on too thick of a paint film, you might try a common painting technique called back-rolling, which combines the speed of spraying with some of the advantages of rolling. With back-rolling, you first apply the paint to the surface with the sprayer, then immediately go back over it with a paint roller. Use a low-nap roller and don't dip it directly into the paint, simply use it to "press" the paint against the surface. Back-rolling actually evens out the paint film and helps it adhere more tightly to the surface underneath -- a real advantage over old, dry wood -- and should help to preserve the subtle grain features by rolling out any areas where the paint has been sprayed on too thick.

Real Estate Designers offers totally innovative solutions for your software development, Internet programming, real estate web design and hosting needs. Our service includes domain name registration and real estate web design. Real Estate Designers provides the complete solution including design, application development and marketing.



source: pennsylvania.remax.com

New-home defects often missed

Dear Barry,

Is it necessary to get my own home inspection on a newly constructed home, or should the inspection by the city inspector be accepted as adequate? --Dean

Dear Dean,

Some readers may wonder why this subject, in varying forms, is recurrent in this column. It is because questions about inspecting new homes are asked so frequently and because the answer is vital to anyone who plans to buy a new home.

Experienced home inspectors have learned that all new homes have defects of one kind or another, regardless of the quality of construction or the integrity of the builder. This is because human imperfection prevents anything as large and as complex as a home from being constructed flawlessly.

A commonly held fallacy is that all construction defects will be discovered by municipal building inspectors. This view is highly mistaken, but not because of professional shortcomings on the part of those inspectors. The purpose, scope, time allotment and procedures for municipal inspections are not the same as for home inspections.

Municipal inspectors inspect primarily for code compliance, not for quality of workmanship. They can cite a builder for improper structural framing or for noncomplying drain connections, but a poorly fitted door, an uneven tile countertop and slipshod finish work are not included in the list of concerns.

Municipal inspectors rarely inspect an attic or a subarea crawl space. They come to the job site with a clipboard and a codebook, not with a ladder and overalls. Construction defects in such areas can escape discovery.

Municipal inspectors typically inspect a roof from the ground or possibly from the builder's ladder. From these perspectives, roof defects are not always apparent. And final inspections are performed before the utilities are turned on, so municipal inspectors cannot determine if or how well the appliances and fixtures truly work. They don't test outlets for ground and polarity because this can be done only after the power supply is turned on. Nor, without power, can they test the performance of GFCI or AFCI safety breakers.

The lack of utilities also prevents the testing of plumbing fixtures such as sinks, showers, tubs and dishwashers, and of gas fixtures such as furnaces, fireplaces and water heaters.

As repeatedly expressed in this column, those who buy new homes should not forego the benefits of a thorough home inspection. Just be sure to find an inspector with years of experience and a reputation for thoroughness.

Dear Barry,

Our home was built in 1978 and, until recently, had acoustic "cottage cheese" ceilings. My friend helped to scrape off the ceiling texture and a week later developed a sore throat. Now he fears that he has been adversely affected by breathing asbestos. Is this a valid concern? --Amy

Dear Amy,

Scraping a 1978 ceiling without having it tested for asbestos was not a wise course of action. However, there are no short-term health effects associated with asbestos exposure. The only documented cases of asbestos-related disease involve people who were subject to repeated, long-term exposure. The damaging effects attributed to asbestos are lung cancer, asbestosis and mesothelioma.

Your friend's recent sore throat is not likely to be asbestos-related.

Real Estate Designers offers totally innovative solutions for your software development, Internet programming, real estate web design and hosting needs. Our service includes domain name registration and real estate web design. Real Estate Designers provides the complete solution including design, application development and marketing.



source: pennsylvania.remax.com

Benefit to getting mortgage at credit union?

Q: My son in Charlotte, N.C., is 25 years old with good credit and no foreclosure proceedings. Two years ago, he bought a new townhouse. Today, the townhouses in his subdivision are selling for less money than what he owes on the property.

He also has just relocated to a different city. He says his credit union, which is his mortgagor, will sell his townhouse for a lower price and forgive his debt. He has to sign his deed over. He will pay closing costs and the real estate commission fees. They said they will not report him adversely to the credit union. Then he walks away free and clear with no adverse effect whatsoever.

He says it will all be in writing. Is this possible? It sounds too good to be true.

A: If this is true, your son sounds like one of the lucky ones. And because he worked with a credit union rather than a big mortgage company, he may be able to strike this kind of deal.

But there may be other negative consequences to your son's predicament.

If his debt is forgiven, he may owe federal and state income taxes on the amount that is forgiven. For example, if he sells the property for $20,000 less than his mortgage, he'll owe taxes on $20,000 of what the IRS calls "phantom income." While Congress has debated eliminating that IRS requirement, at the moment it still stands. So, he could owe another $7,000 or more in taxes the following April 15th.

If your son's lender will put this deal in writing, that's good. But your son should consult with a real estate attorney to make sure that he understands exactly what the letter says, and what he must do to avoid having a "deed in lieu" on his credit history (which would be negative information).

The real issue is what happens if the property doesn't sell. Is the credit union taking over the property entirely? If it doesn't sell, will he be required to make his regular mortgage payments to the credit union? Can he afford to do that or would he be better off finding a renter who can rent the property until the rest of the units are sold in the development? Will his new employer be willing to help out at all?

Your son's experience is why I've always talked about real estate being a longer-term investment. You need to plan to stay at least five to seven years in order to ride out a downturn in the market.

Q: How many names can be on a deed? My mother passed in March, and my name is on the deed. I am 21 years old, and my aunts told me I have to move out of my house. What should I do?

A: Unfortunately, your letter is lacking the kind of detail that would allow me to provide more specific advice. But let me start at the top and give you a few options.

First, I don't think there is a limit to how many names can be listed on a deed. Technically, 20 people or more could be listed as co-owners of the property.

Did your mom own the property by herself? Did you own it with her? Are your aunts listed on the deed? You say that you're listed on the deed, but have you checked? You can go to your local recorder of deeds and see who is listed on the title to the property, and you should see what you discover.

Let's say you, your mom and your two aunts are all listed as owners of the property. If you inherited your mother's estate (let's assume you get everything and there is a will), then you might now own half of the property. You'd own your quarter share and your mom's quarter share.

I hardly think that your aunts can force you to move if you're an owner, and you're of the age of majority. But if they do own a piece of the property and they want to sell the property and you want to keep it, you'll have to figure out a way to either buy them out or negotiate how to purchase the home from them, even if you buy it over time. If you want to control the property, you have to own all of it.

It sounds as you feel a bit bullied by the situation. I recommend you sit down with a real estate attorney who can help you figure out what you own, what's happening with your mother's estate (are you the executor?), and what you should do next.

Real Estate Designers offers totally innovative solutions for your software development, Internet programming, real estate web design and hosting needs. Our service includes domain name registration and real estate web design. Real Estate Designers provides the complete solution including design, application development and marketing.



source: pennsylvania.remax.com

Holidays have potential for wooing buyers

The neighborhood kids all arrived, bundled in holiday scarves and hats, plus patent leather shoes usually reserved for weddings and Sunday Mass at St. Theresa's.

Our old house, a large in-city place jammed with the craziness and crayons brought by four young people, was the designated gathering spot -- especially for one famous day each year. And, on that day, we were more than the most popular house in the neighborhood.

We got to host Santa ... before Christmas Eve.

Why us? Had we clearly put the most distance between naughty and nice?

The truth is that we made a successful bid at the local babysitting co-op auction fundraiser and the reward was a one-hour visit from The Big Fella.

We invited the neighborhood, the event became a huge success and our home was deemed headquarters for Santa's annual pre-Christmas visit -- regardless of who won "the hour" at subsequent co-op auctions.

On that first Santa Day, all of our friends remarked how our home always looked terrific during the holidays. I had never really thought about it very much until a six-year-old, visiting from out of town, asked: "Does your home always smell like cookies?"

As the neighborhood kids were coaxed into Kodak-moment, family-portrait poses with their parents and Santa near the Christmas tree, I sat back and thought how appealing the house actually was.

If there's one time of year when houses actually feel presentable, it's during Christmas. And it's not just the Yuletide decorations. The kids seem to help more, perhaps knowing the consequences of how whining as an art form nets fewer presents under the tree; bulky furniture and toys often are stowed in an attempt to save space, and pleasant baking sensations come consistently from the kitchen.

I know it bucks common wisdom -- which says nobody looks at or buys houses during the holidays -- but if you have your house on the market, encourage your agent to show it and have an open house during this special time of year.

Just remember that even though Santa is about ready to slide down the chimney, you won't have to move out immediately even if a buyer walks through the door tomorrow.

A lot of people can't afford the luxury of waiting until spring when all the flowers look lovely. The bottom line is that discriminating, qualified buyers are chasing homes, not seasons. In addition, there will probably be a lot more homes on the market in January and February so the competition for buyers will be greater.

Savvy agents suggest keeping a fire in the fireplace and raking up any remaining leaves in the yard. It's also not a bad idea to keep that oven churning out your favorite treats. Aroma -- and perception -- often brings out memories of great times, and tastes, from specific holiday kitchens.

Never underestimate the value of tasteful decorations. I once knew a family who actually counted on visitors after dark because their home for sale had one of the most compelling light displays in town.

Such artful holiday decorations could put more money in your pocket by bringing a better sales price. The prospective buyer sees something special, something extraordinary.

Keep the interior of your house as free of clutter as possible. Ask Santa to keep most of the presents in the sleigh if you are having an open house just before Christmas and make a point of clearing the paper and ribbons right away after they are opened.

I know, I know...Christmas has been -- historically, traditionally, statistically and realistically -- a lousy time to try to sell a house. But things have changed.

Real estate professionals say it's also a time when focused second-home buyers -- especially a growing group of baby boomers -- scout around for their dream getaway. That's because some owners would rather sell and let the new buyers prepare for the colder months ahead.

Also, consumers sometimes forget that interest rates and fees for mortgages on second homes are usually as low as their primary residence. The best time to buy is during a buyer's market, and sometimes the winter brings out the willingness in sellers.

Whatever your situation -- potential seller, potential buyer, happy staying-put homeowner -- enjoy the holidays. Chances are, your house has never looked better.

If your home looks special, and you're considering a sale, let your agent bring in some potential buyers.

Put grandma in the car and show her the neighborhood lights.

Real Estate Designers offers totally innovative solutions for your software development, Internet programming, real estate web design and hosting needs. Our service includes domain name registration and real estate web design. Real Estate Designers provides the complete solution including design, application development and marketing.



source: pennsylvania.remax.com

Today's Real Estate News Provided by Inman News

Q: Back in 2003, my husband and I put $5,000 down on a house. We bought it for $65,000, and the owner set up an owner-financed mortgage for $60,000.

We made all of our payments on time in 2003, 2004 and 2005. But last year, our payments got a little off schedule. Then this year, in 2007, I bounced a check and we got behind.

The owner came to my house, and very rudely told me that we had to pay $200 per week, or $800 per month. I did it for a month. Then, I made nine more payments of $200, a payment of $185, two payments of $150, and a payment of $185.

Our regular payments were just $450 per month, so going then, to $800 per month was really tough for us. We then had another meeting with our seller who told us that even though we were caught up, he wanted us to keep paying that much each month.

We told him we couldn't afford it, so we settled on $500 per month. I said I'd still pay weekly, but then I missed a few weeks, although I made sure the $500 was getting paid within that month.

The seller got mad, and said paying once a month is not good enough. He told us that the interest rate on our loan is 8 percent, and the interest on our loan is $13 per day.

Now he wants us to pay $700 per month. I don't understand how he can do this. He owns a real estate company and is very wealthy. We heard he messed up two other families who live near us, but we didn't listen to him.

Since we got behind in our payments, he said he wanted the property back. Does that mean he is not going by the land contract we signed? Does that mean we are renting now?

I don't understand what's going on anymore. We hate to say goodbye to the $5,000 we put down, but we can't keep letting him raise our payments.

A: If I understand you correctly, your seller seems to be taking advantage of you. There are some important questions you need to answer: Did you rent the property or buy it? And, is your credit good enough to refinance with a conventional lender? If your seller is a very wealthy real estate investor, he probably has some expert firepower backing him up, such as an accountant or an attorney.

While you don't have much money, you need to hire a competent real estate attorney who can review your document and figure out if you even own this property. I can tell from your letter that your grasp of what you paid and what you still owe is rather loose. How much of each payments is interest and how much pays down the principal? Did the seller give you an amortization schedule showing you how quickly you'd pay down the loan? And, what interest rate was the loan set at?

Just so you understand, if you got a $60,000 loan today at 8 percent, you'd pay only $440 per month for a 30-year amortization payment. It sounds as though you've been paying this off a lot faster. If you paid an extra $200 per month, you'd pay off the entire loan in 13 years.

So, yes, it does seem that your seller is taking advantage of you and you need to hire someone who can discuss the situation with him in terms he understands. You also need to find out how much he says you owe, and you need to look into obtaining conventional financing to close out your deal with your seller as quickly as possible -- and the financing should not be from your seller, but with a legitimate mortgage company.

Q: My aunt sold my brother and me her house for $1 some eight years ago. She is now moving out of state to a relative's house and we are planning to sell the house. Will we have to pay capital gain tax?

A: The short answer is: Yes. You will have to pay long-term capital gains tax on the difference between the purchase price and the sales price, minus the broker's commission, transfer stamps, advertising costs, any other costs of sale and the cost of capital improvements you've made to the home, such as a new roof or new furnace.

If your aunt had held onto the property, and lived in it for two of the past five years as her primary residence, she would have been able to keep up to $250,000 in profits tax-free. Since the property is essentially an investment property for you and your brother, you'll have to pay long-term capital gains tax of up to 15 percent plus state tax on the profits.

Please talk to an accountant or your tax preparer for more details.

Real Estate Designers offers totally innovative solutions for your software development, Internet programming, real estate web design and hosting needs. Our service includes domain name registration and real estate web design. Real Estate Designers provides the complete solution including design, application development and marketing.



source: pennsylvania.remax.com