Month: November 2013

It’s only mid-November, but we are already seeing the coldest weather of 2013.  Here in Tennessee, typically the really cold temps don’t arrive until later.  This early cold snap brings up an important consideration:  how do I winterize a home that’s vacant?  Perhaps you have an investment home that’s not currently rented, or you have moved to your new place and are waiting to sell your former home.  (By the way, call me: I’ll help you find a buyer).

Here are some essential tips on winterizing your vacant home.  You should follow these tips, because if the pipes freeze and burst, you could have major flooding problems and a hefty repair bill.  And do be aware that both plastic AND copper pipes burst: that’s just physics.

• Spend the money for a professional plumber.  That plumber will turn off the water, drain the water heater, the washing machine, dishwasher, toilets, etc.  Sometimes people believe that it’s sufficient to pour a little antifreeze in the toilet bowl, but that’s not enough.  Don’t forget to unhook and drain all outdoor faucets and hoses as well.
• Get up there and remove all the leaves and other blockages from the gutters.  If not, you have get ice blocks forming in the gutters — and, while rare, that can crack the gutters.
• You have already closed off any fireplace damper, venting to the outside from the dryer, etc.  Take a walk around the house and look for small, dime-sized holes near door jambs, french doors, windows, etc — and fill those holes.  If you don’t, you may find that you have provided a chilly hotel entrance to mice, chipmunks, birds (from the chimney), and other unwanted guests (even raccoones!).  Similarly, if you have stored firewood near the house, that’s a magnet for chipmunks (which I have learned from experience).
• If you have wisely chosen to keep the power on, invest in heat tape for the pipes. And another good idea is to have a few lamps set up in various rooms in the house on timers. Anyone who might be eyeing your place may believe that someone really does still live there.
• Pay a neighborhood teenager to shovel snow from the driveway and walkway — and to get the snow removal done quickly.  Driveways and walkways covered with snow clearly announce that this home is vacant.  And if your home gets a showing from a winter buyer, you obviously want to make sure the pathway, the stairs, and the deck are safe.
• It may be difficult to keep the landscaping looking presentable in cold weather, but do pick up any fallen branches.

Hopefully, these tips will not only help save you money, they may help you get your house sold even in the chilly days ahead.  Warm wishes to you!

Okay, nobody wants to think about flooding.  Even now, three and a half years after Nashville’s devastating floods, realtors still are compelled to note “did not flood in 2010” on their descriptions.  Nashville showed incredible strength after the events of May 2010.

An article in a recent magazine brought my attention to the issue of flooding, and I will share here some of its information.  Anyone with a federal mortgage (90% of mortgages!) who buys a home in a government-designated flood zone must obtain flood insurance.  Your lender will be able to tell you if the home you’re considering is in a flood zone.  But even if you’re not in a flood zone, it could be a good insurance to consider, with an average cost of about $600 per year.

Check out all of the helpful information at the National Flood Insurance Program website: http://floodsmart.gov.  There you can enter your address into a Risk Profile tool and the program will tell you whether your home is in the low, moderate, or high risk category.  There’s also a scary widget at this site that allows you to estimate how much a flood (of varying depths: 1-inch, 3-inch, 6-inch, 1-foot, 4-feet, etc) would end up costing you.

As we move closer to 2014, it might be a good time to think about protecting your home with some additional insurance: the kind no one wants to think about.

 

We are beginning the final two months of the year.  As many Realtors will confirm, we are headed into a slow part of the year.  With important holidays occurring in November and December, our focus tends to move towards staying put until the weather warms up.  The result is that for many, the task of selling a home is placed on the back burner.

However, investors should take careful attention of this trend.  What it means is that often, the same house that was priced at (for instance) $200,000 in September, when the flowers were still blooming and the trees were fully leafed out, might be snagged for $180,000 in late December or January.  (Oh, and by the way, that same house may be re-advertised in March — when the flowers start blooming again — for $205,000).  Investors should also note that there may be tax advantages for completing a purchase in 2013.  Finally, investors should also be fully aware that mortgage rates are still low, low, low.

If you’re in this investor camp and you can offer cash for a home or condo, you are in luck.  Today is November 1, but there’s still time to get everything completed before year’s end with a cash deal.  In fact, if you are a 100% cash buyer, you have nearly a month to go before the sand is out of the Purchase Complete in 2013 hourglass.  Here’s a great game plan: purchase now, use January and the first couple of weeks in February to get that home upgraded with new lighting or new bathroom fixtures as needed, and then put it on the market in mid-February — completely new, sparkling, and ready for new renters (or owners) by the first of March 2014.

Finally, the best news is that there are some excellent homes and condos on the market right now.  There are several in the greater Clarksville area that are simply begging for a new owner, and greater Nashville — especially around the burgeoning Charlotte Pike area — still has a number of good selections.

Give either Becky or me a call if this is the right time for you to invest.  Becky’s cell is 615 948 8218, and my cell is 615 870 4094.  As you know, we are with Parks in Green Hills (whose phone number is 615 383 6600).  Thank you!