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Do-It-Yourself Home Security Check: Doors are First Line of Defense

By: Joseph D'Agnese

Protect against break-ins with a security check that shows where the entrances to your house—your doors—are vulnerable.

Think like a burglar

First, stand back: is your front door visible from the street, or is it obscured by bushes? A door that’s covered by shrubbery offers thieves the perfect chance to break in without being seen.

Trim back or remove shrubbery that offers cover for potential intruders.

Upgrade strike plates and deadbolts

Open all doors and check the strike plates, the metal fittings that catch bolts and latches. Chances are, they’re fastened to the soft wood of the door jamb with two screws only. Not good. Upgrade security with four-screw strike plates ($3) and 3-inch screws that bite all the way into the stud behind the jamb.
 
When conducting your home security check, make sure exterior doors have deadbolts that throw at least a 1-inch bolt. Ask your locksmith to upgrade to Grade 1 or Grade 2 locksets and deadbolts ($25 to $80), the most secure options.

Check garage doors

Back doors and garage doors are more likely to be attacked than the front door. If you have an attached garage, disable the automatic opener and lock the garage door before you go away on a long trip. The door leading from the garage into the house should be outfitted with the same hardware as exterior doors and kept locked at all times.

Patio doors are vulnerable

Sliding doors leading to a patio can be a home’s weak spot. To beef up security:

• Closely inspect the doors and their hardware.

• Replace any missing or broken locks.

• Consider installing locking pins to prevent the doors from sliding.

• Get into the habit of locking the doors, not just the screen, when patio doors are unattended.

Replace your entry door

Check the construction of your entry doors. Those made of steel, solid wood, and impact-resistant fiberglass are all good choices for security. If you must have glass, make sure it is tempered or reinforced for added strength. Expect to pay $1,400 to $2,300 for an exterior replacement door, including installation.

Strengthen the lock on your outdoor storage shed

Don’t ignore the doors on your outdoor storage shed, especially if you store tools there; they could be useful to a burglar. As with house doors, the best option is a secure deadbolt. If your shed doors are unable to accommodate a deadbolt, a heavy-duty slide bolt ($15 to $25) secured by a padlock is a good substitute.?

Joseph D’Agnese is a journalist and book author who has written numerous articles on home improvement. He lives in North Carolina.

     Times are still a little rough out there for a lot of people.  The official unemployment rate is still just under 10%, and some people think it is really higher.  So, what if you find yourself having a hard time making your house payment?  Well, you can always try the HAMP program that the Federal Government came up with.  This is basically working with your bank to come up with better terms for you so that you can make your payment more easily.  You can find more about this at www.makinghomeaffordable.gov.  Try this out, and if it doesn't work for you, try again.  Things are changing quickly in this environment, so don't take no for an answer.  Just be nice when you call!  Get their name(s), be sincere and honest, and see what happens.

    Another little-known strategy is something called "Recasting".  Basically it is keeping the loan amount and interest rate that you have, but starting over with your ammortization.  How could this help you? 

    Let's say that you have paid for years on your loan and have paid down your principle an appreciable amount.  Or, you have paid extra through the years, or you came into money and want to put it toward the principle, but you also want your payment to go down.  What you can ask your mortgage company to do is to basically start the loan ammortization over, but with the current principle amount.  So, if you started out with a 30 year mortgage of $150,000 and now owe only $100,000, you may get your mortgage company to finance the $100,000 for 30 years.  It is like starting over but with a lower loan amount, therefore your payment goes down.  

    What are the benefits other than lowering your payments?  Well, it is much cheaper than refinancing.  We are talking hundreds of dollars as opposed to thousands.  Be aware, though, not all mortgage companies offer recasting, and even if they do, they are not required to approve everyone that applies.

    The downside?  You may end up paying more interest in the long-run, especially if you run the full term of the recasting.  You will probably have the option of making additional principle contributions to mitigate this, however.

    Bottom line, DO NOT LET YOUR HOME BE FORECLOSED ON!  If you need to talk to a non-mortgage person, give me a call.  I will try to answer any question you have myself, or get you to someone who can.  I do not charge for this, and am not making this offer as a "come-on" to get business.  I just think that it is tragic that so many homes are being needlessly foreclosed on due to misinformation and frustration.

    Thanks for reading.

    Have a great day!

    Mike

    Once again North Carolina towns are ranked among the very best places to live.  This, of course, comes as no surprise to those of us already here.  We love the change of seasons, proximity to beach and mountains, the rolling Piedmont, a thriving business climate, and lots of ways to have fun.  Add to this the great universities, professional sports, and the rich culture in terms of music and the arts, you have a winning hand.  Seeing us ranked near the top by Money and Fortune magazines, among others, is something that we've grown accustomed to.

This is the Triange Business Journals article that discusses the recent rankings....

Money Magazine: Chapel Hill and Cary among best towns to live

Triangle Business Journal - by Brian Austin

Money Magazine has named Cary and Chapel Hill among the best United States small cities in which to live.

Cary was listed at No. 23 and Chapel Hill was ranked 40th in the country among cities with populations between 50,000 and 300,000.

The towns were the only two from North Carolina to make the list this year

Both Cary and Chapel Hill last made the list in 2008, with Cary then 16th and Chapel Hill 65th. Cary was high on the list in 2006, ranking at No. 5.

Raleigh previously has been named among the best cities, but its 400,000-person population disqualified it from consideration this year.

The rankings took into account factors such as job growth, cost of living, crime rates, school quality, cultural attractions, recreational offerings and quality-of-life measurements such as average commute time and air quality.

The top four small cities on the Money list were Eden Prairie, Minn.; Columbia/Ellicott City, Md.; Newton, Mass., and Bellevue, Wash.

6 Reasons to Reduce Your Home Price

By: G. M. Filisko

Published 2010-03-19

While you’d like to get the best price for your home, consider our six reasons to reduce your home price.

If you don't receive any offers for a few weeks, check out other comparable houses on the market and what they're going for.

Home not selling? That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.

These six signs may be telling you it’s time to lower your price.

1. You’re drawing few lookers

You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have no offers

If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes

Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline

If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades

Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competition has changed

If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

    A common mis-conception in selling real estate is that it is best to fix the home up as part of the negotiations.  The reasoning usually includes the following:

  - The home inspector is going to find it, or, he may not.  Let's  just wait and see.

  - I don't want to replace that worn out carpet (paint, siding, shingles, etc) because the buyer's may not like the color or style I pick out.

  - I've lived with it, so can the buyers.

   Believe it or not, I've heard all of the above.  Let's talk about it.  First, if you or your agent is aware of a defect with the home is has to be disclosed to any prospective buyers.  The second point is that almost every buyer uses an inspector.  I have seen buyers walk away from deals if they think the sellers are not being forthright.  They start to think about what else the sellers may be hiding.  Further, most contracts to buy homes in North Carolina include "Cost of Repair" clauses.  These state that if the repairs found by the inspector exceed a certain amount prescribed in the offer then the Buyers can demand to be released from the contract and get a full return of their earnest money. 

    Usually, the defect is obvious to the careful observer.  A common one is where the seals have failed on double-paned windows.  These are easy to see because the windows appear to be fogged up.  This is because moisture has made its way inside via the failed seal.  Two great reasons to get these fixed now is that it won't be a negative when prospective buyers are looking at it.  Also, you're most likely going to have to fix it anyway.  So, why not just do it now and reap the marketing benefit of a brand new window(s).

    The other argument against making improvements is that they new buyer may not like the color or style that you choose.  This is where the experience of a seasoned Realtor comes in.  They can help you make the right choice, and even recommend the most affordable suppliers and workmen.  GOURLEY REAL ESTATE, Inc. provides a professional decorator as part of our service.  She will help you with any selections that you may have to make in order to get your home sold for the most money in the least amount of time.

    The last objection, "I've lived with it".  A prospective buyer will just respond, "Yes, and I see why you are anxious to sell!"  Or: "You may have lived with it, but I don't have to!"

    The reality is, in most markets, and especially in this highly competitive Buyer's Market, the buyers don't stick around to haggle with you, they just go buy another home.  Think about it, when you go shopping for a car, or a home, what do you do when confronted with damaged or worn out features.  Sure, if the home is in a one-of-a-kind location, or offered at a highly discounted price, then you may get buyers regardless.  However, that is the rare exception.

     To get top dollar in the shortest time possible make your home SHINE.  Go to a model home and understand that is your competition.  Is it difficult to get a home sold these days?  Well, it certainly is more so than in years past.  The extra time, money, and effort into making your home rise above the others will help to make yours one of the ones that gets snapped up by some lucky buyer.

     I've been representing buyers and sellers in this area since 1996.  For more information on the service we offer give me a call at 919-788-9772. 

HUD: Tax Credit Can Be Used on Closing Costs 

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

The loans can't be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.

Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.

There remain many sources of assistance for buyers needing help with the 3.5 percent downpayment, including many state and local government instrumentalities and nonprofit lenders.

In addition, some state housing finance agencies have developed their own tax credit bridge loan programs, so buyers in states whose HFAs offer such programs can monetize the tax credit upfront to cover all or part of their downpayment. These programs are separate from what HUD announced today.

The first-time homebuyer tax credit was enacted last year--and improved upon earlier this year--to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven't owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Learn more about the credit, including how to apply for it this year even if you've already filed your taxes, by calling Mike at 919.788.9772, or email at mike@gourleyrealestate.com