Before you plug in and light up for the holidays, run your decorations through this quick safety check.

Lights, inside and out, are a beautiful part of the holiday season. But as with all electrical devices, you need to take special precautions. Before you deck the halls, run through this checklist to keep your holidays merry and bright.

Inspect light strings. Discard any that are damaged. Frayed or cracked electrical cords or broken sockets are leading fire hazards.

Follow the manufacturer’s instructions for connecting multiple strings. The general limit is three strings. Light strings with stacked plugs can usually accommodate greater lengths than end-to-end connections.

Replace burned-out bulbs promptly. Empty sockets can cause the entire string to overheat.

Make sure outdoor lighting is UL-rated for exterior use. Exterior lights, unlike those used inside the house, need to be weather-resistant. The same goes for any extension cords used outdoors.

Don’t use outdoor lights indoors. They’re too hot for interior use. For the coolest bulbs and greatest energy efficiency, try LED lights, which come in a wide range of styles and colors.

Don’t attach light strings with nails or staples. They can cut through the wire insulation and create a fire hazard. Only use UL-approved hangers.

Take exterior lights down within 90 days. The longer they stay up, the more likely they are to suffer damage from weather and critters chewing on them.

Store lights safely. Tangled lights can lead to damaged cords and broken sockets. After the holidays, coil each string loosely around a stiff piece of cardboard, wrap it in paper or fabric to protect the bulbs, and store in a sturdy container until next year.

Pat Curry is a former senior editor at BUILDER, the official magazine of the National Association of Home Builders, and a frequent contributor to real estate and home-building publications.

article: HouseLogic.com

Windermere gang taking a break from Virtual RE BarCamp.

A beautifully-landscaped property can work wonders when it comes to selling your home. The Free Landscaping Ideas Blog offers these suggestions on how to save money without sacrificing quality or beauty.

• Make a plan that includes a schedule of tasks and rough sketches of your design to help you determine what items you need. For assistance, consult with an expert at a local gardening store or home improvement retailer

• Plan the project in phases and purchase products as money is available. The phased-in plan also helps you avoid the interest and fees associated with home-improvement loans or credit card purchases.

• Don’t sacrifice quality. Ask the staff at local specialty shops for recommendations about the best products available. If you are inexperienced with landscaping, consider spending a little extra for professional assistance.

• Carefully inspect plants for diseases and insect problems, especially if you didn’t purchase them from a nursery. Diseases and pests can spread to other plants. Also ask the gardening retailer if they offer warranties on their plants.

• If you plan ahead, you can take advantage of off-season prices. For example, buy lumber in the winter when it is cheaper and store it until you are ready to use it. Shop for trees, shrubs, perennials, mulch and soil late in the season when prices go down.

• Purchase products online or from catalogs, or join a gardening club, which may offer discount prices as well as helpful advice.

• Your municipality may have mulch and compost available. Also, try asking people in charge of construction or demolition sites if they have used stones or bricks they might give away.

• Ask neighbors if they’ll share some of the costs. By pooling all your resources, you may get some good deals on items bought in bulk, and you can split the cost of renting machinery for landscaping work.

Image: aspencreek.com

Starting January, 1, 2009, using the new Real Estate Purchase Contract (REPC), was mandatory for all real estate transactions involving a licensed real estate agent or broker. This form could be used starting August 27, 2008, but most people opted to wait until the mandatory date. There are a number of changes to this form, but I will focus on what I think is the most important change in this post. I will look at other changes in upcoming posts, so check back.

Section 10.2 of the REPC

The old REPC, 10.2 provided Seller Warranties:

10.2: Condition  of  Property.   Seller  warrants  that  the  Property  will  be  in  the  following  condition  ON  THE  DATE SELLER DELIVERS PHYSICAL POSSESSION TO BUYER: (a) the Property shall be broom-clean and free of debris and personal belongings.  Any Seller or tenant moving-related  damage to the Property shall be repaired at Seller’s expense; (b)  the heating, cooling, electrical, plumbing and sprinkler systems and fixtures, and the appliances and fireplaces will  be in working order and fit for their intended purposes; (c) the roof and foundation shall be free of leaks known to Seller; any private well or septic tank serving the Property shall have applicable permits, and shall be in working order and  fit for its intended purpose; and the Property and improvements, including the landscaping, will be in the same general condition as they were on  the date of Acceptance.

The New REPC, 10.2 is in AS_IS Condition:

10.2: Condition of Property/Buyer Acknowledgements.   Buyer acknowledges  and agrees  that  in  reference  to  the  physical condition of the Property: (a) Buyer is purchasing the Property in its “As-Is” condition without expressed or implied  warranties of any kind; (b) Buyer shall have, during Buyer’s Due Diligence as referenced in Section 8.1, an opportunity to  completely inspect and evaluate the condition of the Property; and (c) if based on the Buyer’s Due Diligence, Buyer elects  to proceed with the purchase of the Property, Buyer is relying wholly on Buyer’s own judgment and that of any contractors  or inspectors engaged by Buyer to review, evaluate and inspect the Property. 
 

What is the difference?

istockphoto.com

Basically, the old REPC provided some protections for the buyer, which at the time seemed like a good idea. The problem started when sellers were not aware of some of the problems discovered about their homes by a potential Buyer. After the discovery of a defected warranted item, it was mandatory for the seller to fix the specific warranted item. In some cases this was an extreme hardship for a seller if the repair ran into thousands of dollars and the seller didn’t have the money. The seller could NOT cancel the contract and could be in default.

What the Buyer needs to do now…

photo:loraineritchey

Caveat Emptor, meaning, let the buyer beware!  Seller’s are still required to disclose any known defects about the property, but it is the unknown defects that a buyer needs to discover. It is more important than ever for the Buyer to inspect the property. If you find a defect, you may request that the seller repair the item, but now, the seller is not required to repair a defect. The buyer can cancel the contract if the seller does not agree to repair an item.

If you are not sure how this change and all other changes will affect you when purchasing or selling your home, contact a professional who will help you navigate this process.

What is the new project at the University of Utah?

UPDATE: NOVEMBER 25, 2009; The Universe Project is on hold because of the economy, lack of retail interest and money. See here for more details.

For those that attend or live in and around the University of Utah in Salt Lake City, a new project is being planed for the south west part of campus that encompasses the 8 acres Rice-Eccles stadium parking lot. The Universe Project is a mixed use, transit-oriented development (TOD) proposal that will include university offices, housing, retail shops, restaurants and additional parking.

What is the purpose of this project?

According to the projects planners, the goals for project Universe are:

• Provide amenities that will attract outstanding students, exceptional faculty, neighbors, and visitors from the Salt Lake area and beyond
• Create an exciting and vibrant experience for patrons coming to the university, both for scheduled events and general visits
• Take advantage of the mass transit opportunities made available through the TRAX rail system
• Establish a compatible and stronger connection between the university campus and neighborhood communities
• Stimulate high quality development of the western edge of campus as an entry portal onto the University of Utah campus and a gateway to Salt Lake City
• Engage the community and weave the interests of the university into the fabric of the local community
• Enhance the appearance and functional use of the proposed site without detracting from or reducing the current functional aspects of the area, namely parking.

To learn more about the project and participate in comments for the community see this power point presentation.

Just released;  4th quarter real state statistics for 2008. This includes the counties of Salt Lake, Davis, Tooele, Utah, and Weber. These are provided by the Salt Lake Board of Realtors and have not been made available to the media as of this posting.

Summary of Results:

• Salt Lake County: Median Price; $239,500, down 0.17%
• Davis County: Median Price; $216,900, down 3.58%
• Tooele County: Median Price; $188,000, down 1.05%
• Utah County: Median Price; $230,000, down 2.50%
• Weber County: Median Price; $167,000, down 0.54%

These changes were significantly less compared to 3rd Quarter 2008.

What does this mean?

This shows that prices in most counties around the Wasatch Front have slowed their descent; it does not mean they have stopped going down. As I have said before, buying a home is not always about how much a homeowner can make on a home, it’s about a place to live, nest, shelter, and a place of rest. Either you are renting or you are owning. If your horizon is 3 years or more, buying is the logical choice.

Salt Lake Board of Realtors lost approximately 2,600 members from 2008 numbers as a result of hard economic times in the real estate market. This number represents 30% of the associations membership as of December 31,2008; which was the deadline to pay the required fees to continue membership. Other associations around the state are expected to post similar numbers. 

Why is this a good thing?

During the real estate heyday of a few years ago, anyone that had a pulse was getting their real estate licence. Everyone had a relative or neighbor, friend or foe that had a licence. It was a financial smorgasbord of real estate money making bliss. As we know, this didn’t last. 

Most of the people that jumped in the business to catch the money train, ended up being poor contributors to our profession as Realtors. The weeding out process began in 2008, and now, those Realtors that survived, are the Realtors that were here before the bubble, or were taking the profession seriously from the beginning. They weren’t in in for the fast buck, but for what it represented as the profession it was meant to be.

How does this benefit the consumer?

The remaining Realtor members are the most successful and best educated of the last 10 years. They have paid the price of a successful career through customer service, education and community service. They have created a client base based on referrals and repeat business, and are in the profession for the long term, through all the market cycles, and are committed to the best in service for their clients. These, the Realtors left standing after the storm, are only the strongest, best positioned to meet the challenges of the coming recovery. These are the people you should be seeking as a future buyer or seller.

image teqware.com

What happened to real estate sales for November 2008 in Salt Lake County?

According to the Salt Lake Board of Realtors, the number of homes and condominiums (units) sold in November 2008 was 576 units. In November of 2007 there were 924 units sold, that’s a decrease of 38%. Another statistic to note was that median price INCREASED by 4% to $229,900 from $221,300 in ‘07.

How can home prices be going up when all the indicators, and may cities home values, are going down?  Well, most of the homes sold, 75%, were under the $300,000 price point, only 10% of the homes sold were above $500,000. The big difference between this year and last year is that interest rates last year were a full 1% higher. Usually when interest rate go down, people can afford more, so they usually purchase a more expensive house. Plus when interest rates are lower more people can afford to buy, so you see more entry level buyers come into the market, thus the large margin of home buyer’s in the entry level price range. When interest rates rise, people can afford less, and there are less buyer’s in the buyer pool, so more inventory means prices tend to go down.

It also might mean that prices in Salt Lake County have stabilized and may start to rise. It also might be temporary, prices should stabilize, then rise for a period of 4 to 6 months before we can claim victory over declining home prices. See my post on when it is a good time to buy to learn more about if you should wait.

What are your thoughts?

 

photo by shutter stock

 

A home is a place of residence or refuge.^[1] It is usually a place in which an individual or a family canrest and be able to store personal property. Most modern-day households contain sanitary facilities and a means of preparing food.  Wikipedia 

 

Where does it say that a home has to make its owner a bazillion dollars OR is of no use in a declining market? With all the talk these days about the housing bubble and home values, to buy or not to buy, I want to look at the issue from another angle.

People NEED a place to live, shelters from the weather, a place to raise a family, to store their things, create memories. There are 2 options; you are either the owner of your domicile, or a renter/tenant of your domicile.  Why own? First, it cost less to own than rent. Second, payments stay the same monthly (fixed rate over 15 or 30 years) eventually the mortgage is paid off. Third, the tax benefits from owning. Finally, after it is paid, there is a nice little nest egg, and even if it’s worth nothing, you have a place to live!

Let’s look at the last few years and why people are in such a huff over the real estate market. Without going into the details of what and why we had a real estate bubble (there are hundreds of articles out there to read), prices have fallen drastically in some markets of the country, BUT NOT ALL markets! Yes if you purchase 2 years ago and HAVE to sell now, you could loose money. But how many people have to do this? Don’t most people live in their homes at least 5 to 7 years? The problem with the last few years is that some people where caught up in the lure of rising prices and speculation, the upward spiral continued to feed on itself. The mantra for home ownership became, how much can I make on my home? And should I buy 2 more?  But is this what home ownership is all about? For some, yes, for investors, for sure, but for most people, no way!  Owning a home is about shelter, raising a family, security from the weather and the world? Why hasn’t this been the mantra of late? How can we bring this mantra back?

We bring it back by talking about all the reason for home ownership; what are the basic tenets of home. Reinforce the definition of HOME at the beginning of this blog, ask the question, where are you going to live and why would you wait to buy home? Taking this basic premise of home ownership, is it good to own in any market? Must you make money on your home every year? Is the requisite for home ownership to turn a profit?

I would like to take this opportunity, the beginning of the New Year, 2009, to educate and change the mantra of what it means to be a homeowner. Show that it is good to buy a home almost anytime.

People have asked me , if I have all these designations, why don’t I tell people what they mean and why I spent all the TIME and MONEY to get them. So here is the first in a series of posts that will explain the professional designations I have and how they might benefit you, the client.

The first is the CRS Designation, short for Certified Residential Specialist. Some consider this the PH d of real estate. I will start with what the official CRS explanation:

There are over one million REALTORS® in business today. So if you want to find that one-in-a-million REALTOR®, start with the over 37,000 who hold the Certified Residential Specialist Designation. CRS is the symbol of excellence in residential real estate. Our members have proven they have the experience, training and commitment to be among the best in their profession.

This sums up a lot of why I like this designation, the best of the best! There are weeks of core courses to take (thousands of dollars including travel and expenses), plus there are elective classes, you can get credit for college work or other advanced real estate designations. Next is the required number of real estate transaction, years in the busines, and fees. Gather all these up and you can apply for the designation.

Of all the Realtors in the U.S., just 4% can call themselves Certified Residential Specialist. Just 1 in 25 has the experience, the commitment and the hours of advanced training necessary to call themselves a Certified Residential Specialist.

How does this help you the consumer? Well, despite all the expertise you get when you work with me, it doesn’t cost you any more than working with any other Realtor. In fact, the skills and know-how you get from me may actually save you time and money.