If your kitchen has a garbage disposal, you know how easy it makes mealtime clean up. But what you may not realize is that your disposal comes with some pretty important rules. Here are some of the most vital:
Do:
- Insert food slowly. Stuffing it all into your disposal at once can cause clogs and shorten the life of your system.
- Grind hard materials. Many people think food like chicken bones or small fruit pits are a no-no, but they can actually help clean the walls of the disposal.
- Use cold water for at least 20 seconds. This will solidify grease so that it can be ground up. Also, make sure that all food particles are washed completely down the drain.
- Keep it clean. One good way to eliminate drain smells is by grinding citrus fruit peels. You can also add a few drops of dish soap and let the disposal run for a few minutes.
Don't:
- Use hot water. This will make grease liquefy and build up, which can clog the drain.
- Grind fibrous or expandable foods. The former, like celery stalks and onionskins, can tangle up the disposal. The latter, like pasta and rice, can clog it.
- Turn off the motor too quickly. You'll want to make sure all food particles are completely ground. Once done, continue to run the water for at least 15 seconds to flush out particles.
- Wash coffee grounds down the drain. While they won't harm the disposal itself, they can clog pipes and drains.
- Forget to use it. Lack of use can cause rusting and corrosion, which can lead to premature system replacement.
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Monday, March 26, 2012
Tuesday, March 20, 2012
Warren Buffett: I'd Buy Up 'A Couple Hundred Thousand' Single-Family Homes
Appearing live on CNBC's Squawk Box, Warren Buffett tells Becky Quick he'd buy up "a couple hundred thousand" single family homes if it were practical to do so. If held for a long period of time and purchased at low rates, Buffett says houses are even better than stocks. He advises homebuyers to take out a 30-year mortgage and refinance if rates go down.
-- “Warren Buffett on CNBC,” by Alex Crippin, CNBC, Feb. 27, 2012.
Warren Buffett is recognized as one of the most successful investors in the world. His recent comments on CNBC reflect how he feels about the opportunity available for all of us in the housing market.
This type of commentary is starting to show up in more and more places as people recognize the real value in today’s housing market. Buffett indicated that if you know where you want to live for the next five or ten years then there is no question you should buy and you should buy now.
One of the most important factors in buying a home is the mortgage. With interest rates at the lowest level in more than fifty years, mortgage payments are actually less in many cases than the rent you would pay for a comparable property. Investing in yourself instead of your landlord is another reason for getting into the game before these low rates are history.
A recent article on MSN Real Estate echoed Buffett’s comments. The article entitle “Should buyers take the plunge this spring?” by Melinda Fulmer cited increases in home sales, decline in inventory, home prices being 10% below rents and banks willingness to lend as reasons why it might be time to become a home owner.
Buffett hit the key in his interview saying that he would be a buyer because of the value that is available.
Maybe it’s time to take Warren’s advice.
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
-- “Warren Buffett on CNBC,” by Alex Crippin, CNBC, Feb. 27, 2012.
Warren Buffett is recognized as one of the most successful investors in the world. His recent comments on CNBC reflect how he feels about the opportunity available for all of us in the housing market.
This type of commentary is starting to show up in more and more places as people recognize the real value in today’s housing market. Buffett indicated that if you know where you want to live for the next five or ten years then there is no question you should buy and you should buy now.
One of the most important factors in buying a home is the mortgage. With interest rates at the lowest level in more than fifty years, mortgage payments are actually less in many cases than the rent you would pay for a comparable property. Investing in yourself instead of your landlord is another reason for getting into the game before these low rates are history.
A recent article on MSN Real Estate echoed Buffett’s comments. The article entitle “Should buyers take the plunge this spring?” by Melinda Fulmer cited increases in home sales, decline in inventory, home prices being 10% below rents and banks willingness to lend as reasons why it might be time to become a home owner.
Buffett hit the key in his interview saying that he would be a buyer because of the value that is available.
Maybe it’s time to take Warren’s advice.
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Monday, March 12, 2012
10 Easy Upgrades to Add Style & Value to Your Home
Sometimes, it’s the little things that make the biggest difference in the value and appeal of your home. Whether you’re trying to sell your home of just spruce up the place, here are 10 easy ways to get started.
- Update hardware on cabinets and drawers
- Replace towels and rugs in the bathroom(s)
- Add overhead lighting or wall sconces to brighten rooms
- Declutter small spaces and closets with DIY storage kits
- Wash or power wash the exterior of your home (especially windows)
- Add area rugs to throw in a hint of color
- Hang a mirror in small rooms to give the illusion of more space
- A fresh coat of paint on walls and trim brighten any room
- Try a fresh new color on your front door for character
- Mow and mulch your lawn even in the cooler months
Make a plan. Set a budget. Get started!
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
- Update hardware on cabinets and drawers
- Replace towels and rugs in the bathroom(s)
- Add overhead lighting or wall sconces to brighten rooms
- Declutter small spaces and closets with DIY storage kits
- Wash or power wash the exterior of your home (especially windows)
- Add area rugs to throw in a hint of color
- Hang a mirror in small rooms to give the illusion of more space
- A fresh coat of paint on walls and trim brighten any room
- Try a fresh new color on your front door for character
- Mow and mulch your lawn even in the cooler months
Make a plan. Set a budget. Get started!
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Wednesday, March 7, 2012
Pending home sales near a two-year high, boosting views on housing market
By Derek Kravitz
WASHINGTON -- The number of Americans who signed contracts to buy homes rose in January to the highest level in nearly two years, supporting the view that the housing market is gradually coming back.
The National Association of Realtors said Monday that its index of sales agreements rose 2 percent last month to a reading of 97. That's the highest reading since April 2010, the last month that buyers could qualify for a federal home-buying tax credit and the last time the reading was above 100.
A reading of 100 is considered healthy.
The Realtors' group also released revised data for 2011. That lowered November's initial 19-month high of 100.1 to 96.9. But contracts have been markedly up since the summer when some feared a second recession loomed.
Contract signings typically indicate where the housing market is headed. There's a one- to two-month lag between a signed contract and a completed deal.
A sale isn't final until a mortgage is closed. One-third of Realtors complain that they've had at least one contract scuttled in January, December, November and October, according to the Realtors' group. That's up from 18 percent of Realtors in September.
Nonetheless, the gain in signed contracts supports other evidence of improvement in the housing market.
Pierre Ellis, an economist at Decision Economics, said home sales and building is in the midst of "ongoing general, but gentle, progress."
Builders are growing more optimistic after seeing more people express interest in buying this year. Sales of previously occupied homes are at their highest level since May 2010. More first-time buyers are making purchases. And the supply of homes fell last month to its lowest point in nearly seven years, which could push home prices higher.
Homes are the most affordable they've been in decades. And mortgage rates have never been cheaper.
Much of the optimism has come because hiring has picked up. More jobs are critical to a housing rebound.
"Easier mortgage lending criteria, very low rates and the improving labor market are all contributing to the beginnings of a real upturn in home sales, if not yet prices," said Ian Shepherdson, chief U.S. economist at High Frequency Economics.
Sales may also be rising because of an April deadline for higher mortgage application fees for Fannie Mae and Freddie Mac-backed home loans. The government-controlled mortgage buyers own or guarantee about half of all U.S. mortgages and 90 percent of new loans, and have been telling customers to submit their applications now.
Analysts caution that the damage from the housing bust is deep and the industry is years away from fully recovering.
Potential buyers are holding off for a number of reasons. High unemployment and weak job growth have deterred many potential buyers. Loans are harder to come by. Lenders are requiring bigger down payments and strong credit scores to qualify.
Even those with good credit and stable finances are hesitant to buy out of concern home prices will keep falling.
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
WASHINGTON -- The number of Americans who signed contracts to buy homes rose in January to the highest level in nearly two years, supporting the view that the housing market is gradually coming back.
The National Association of Realtors said Monday that its index of sales agreements rose 2 percent last month to a reading of 97. That's the highest reading since April 2010, the last month that buyers could qualify for a federal home-buying tax credit and the last time the reading was above 100.
A reading of 100 is considered healthy.
The Realtors' group also released revised data for 2011. That lowered November's initial 19-month high of 100.1 to 96.9. But contracts have been markedly up since the summer when some feared a second recession loomed.
Contract signings typically indicate where the housing market is headed. There's a one- to two-month lag between a signed contract and a completed deal.
A sale isn't final until a mortgage is closed. One-third of Realtors complain that they've had at least one contract scuttled in January, December, November and October, according to the Realtors' group. That's up from 18 percent of Realtors in September.
Nonetheless, the gain in signed contracts supports other evidence of improvement in the housing market.
Pierre Ellis, an economist at Decision Economics, said home sales and building is in the midst of "ongoing general, but gentle, progress."
Builders are growing more optimistic after seeing more people express interest in buying this year. Sales of previously occupied homes are at their highest level since May 2010. More first-time buyers are making purchases. And the supply of homes fell last month to its lowest point in nearly seven years, which could push home prices higher.
Homes are the most affordable they've been in decades. And mortgage rates have never been cheaper.
Much of the optimism has come because hiring has picked up. More jobs are critical to a housing rebound.
"Easier mortgage lending criteria, very low rates and the improving labor market are all contributing to the beginnings of a real upturn in home sales, if not yet prices," said Ian Shepherdson, chief U.S. economist at High Frequency Economics.
Sales may also be rising because of an April deadline for higher mortgage application fees for Fannie Mae and Freddie Mac-backed home loans. The government-controlled mortgage buyers own or guarantee about half of all U.S. mortgages and 90 percent of new loans, and have been telling customers to submit their applications now.
Analysts caution that the damage from the housing bust is deep and the industry is years away from fully recovering.
Potential buyers are holding off for a number of reasons. High unemployment and weak job growth have deterred many potential buyers. Loans are harder to come by. Lenders are requiring bigger down payments and strong credit scores to qualify.
Even those with good credit and stable finances are hesitant to buy out of concern home prices will keep falling.
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Monday, February 27, 2012
California January Home Sales
February 16, 2012
An estimated 28,111 new and resale houses and condos were sold statewide last month. That was down 25.5 percent from 37,734 in December, and up 1.5 percent from 27,706 for January 2011. A decline from December to January is normal for the season. On a year-over-year basis sales have increased the past six months. California sales for the month of January have varied from a low of 19,145 in 2008 to a high of 47,138 in 2004, while the average is 31,717. DataQuick's statistics go back to 1988.
The median price paid for a home last month was $236,000, down 4.1 percent from $246,000 in December, and down 1.3 percent from $239,000 for January a year ago. The median has decreased on a year-over-year basis for the last 16 months. The bottom of the current cycle was $221,000 in April 2009, while the peak was $484,000 in early 2007.
Distressed property sales – the combination of foreclosure resales and “short sales” – continued to make up more than half of California’s resale market.
Of the existing homes sold last month, 34.5 percent were properties that had been foreclosed on during the past year. That was up from a revised 33.9 percent in December and down from 40.4 percent in January a year ago. The all-time high was in February 2009 at 58.5 percent.
Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 21.4 percent of resales last month. That was up from 19.6 percent in December and up from 18.7 percent in January 2011. Two years ago short sales made up an estimated 18.1 percent of the resale market.
The typical mortgage payment that home buyers committed themselves to paying last month was $893. That was the lowest since $882 in February 1999. Adjusted for inflation it was the lowest since at least 1988 .
Indicators of market distress continue to move in different directions. Foreclosure activity is high, but well below peak levels. Financing with multiple mortgages is low, down payment sizes are stable, and cash and non-owner occupied buying remain at or near record levels, DataQuick reported.
Source: DataQuick; DQNews.com
An estimated 28,111 new and resale houses and condos were sold statewide last month. That was down 25.5 percent from 37,734 in December, and up 1.5 percent from 27,706 for January 2011. A decline from December to January is normal for the season. On a year-over-year basis sales have increased the past six months. California sales for the month of January have varied from a low of 19,145 in 2008 to a high of 47,138 in 2004, while the average is 31,717. DataQuick's statistics go back to 1988.
The median price paid for a home last month was $236,000, down 4.1 percent from $246,000 in December, and down 1.3 percent from $239,000 for January a year ago. The median has decreased on a year-over-year basis for the last 16 months. The bottom of the current cycle was $221,000 in April 2009, while the peak was $484,000 in early 2007.
Distressed property sales – the combination of foreclosure resales and “short sales” – continued to make up more than half of California’s resale market.
Of the existing homes sold last month, 34.5 percent were properties that had been foreclosed on during the past year. That was up from a revised 33.9 percent in December and down from 40.4 percent in January a year ago. The all-time high was in February 2009 at 58.5 percent.
Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 21.4 percent of resales last month. That was up from 19.6 percent in December and up from 18.7 percent in January 2011. Two years ago short sales made up an estimated 18.1 percent of the resale market.
The typical mortgage payment that home buyers committed themselves to paying last month was $893. That was the lowest since $882 in February 1999. Adjusted for inflation it was the lowest since at least 1988 .
Indicators of market distress continue to move in different directions. Foreclosure activity is high, but well below peak levels. Financing with multiple mortgages is low, down payment sizes are stable, and cash and non-owner occupied buying remain at or near record levels, DataQuick reported.
Source: DataQuick; DQNews.com
Monday, January 9, 2012
Home Bargains Abound, But Willing Lenders Are Rare Breed
By Annamaria Andriotis
Faced with finicky lenders, would-be home buyers are increasingly turning to Dad, Grandma or rich Uncle Barton—even perfect strangers they met online. While these solutions are understandable, given the abundant bargains on the market, they also present significant risks.
This year, one-third of first-time home buyers received a cash gift or a loan for a down payment from family or friends, according to the National Association of Realtors. That is up from a historical average of 27%.
Meanwhile, so-called peer-to-peer lending sites Prosper and Lending Club say demand for home-related financing is on the rise. And Weemba, a social-networking site, launched a platform in September to connect lenders directly with prospective home buyers and other borrowers.
Driving the demand, say financial advisers, is that despite rock-bottom mortgage rates around 4%, traditional lenders remain reluctant to provide mortgages to anyone with less than stellar credit. And in certain markets lenders are requiring down payments of more than 20% of the home's purchase price.
Scott Nguyen, a human-resources analyst, was denied a mortgage by several banks before getting a $15,000 loan from his mother and sister to use as a down payment on a home in Costa Mesa, Calif. Mr. Nguyen says he has agreed to pay off the loan on a monthly basis over three years, and will end up paying $3,000 in interest.
"Without my mom and my sister's help, I don't think I would have been able to buy the house that I did," he says.
In so-called intrafamily loans, the borrower often saves on interest since parents are likely to charge less than the banks, says Michael Garry, a fee-only financial planner in Newtown, Pa. And parent lenders can earn a higher return from their child's interest payments than they would on a certificate of deposit or money-market fund. Under federal law, on a loan of more than nine years, parents in most cases must charge at least roughly 2.8%.
Of course, intrafamily loans can upset the family dynamic.
Jonathan Bergman, a certified financial planner at Palisades Hudson Financial Group in Scarsdale, N.Y., recommends that parents be clear about how repayment will work. In some cases, it may even make sense to hold back on future monetary gifts or inheritance if it isn't repaid. "The power of the parents' purse is strong," he says.
Consumers who want to look beyond the family can apply at online sites like Lending Club and Prosper. If approved for a loan after a screening by the companies, applicants may then receive money from investors.
At Miami-based Weemba, some 3,000 registered users have started posting loan proposals during the past couple months. Thirty companies including banks and credit unions—up from just a dozen in September—review the applicants and directly contact those they are interested in.
However, these alternative routes to financing can be expensive for borrowers. Rates at Lending Club run from around 7% to 28%, and at Prosper from roughly 7% to 35%. The companies say these rates, which are fixed, are higher than traditional mortgage rates in part because their loans are unsecured.
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Faced with finicky lenders, would-be home buyers are increasingly turning to Dad, Grandma or rich Uncle Barton—even perfect strangers they met online. While these solutions are understandable, given the abundant bargains on the market, they also present significant risks.
This year, one-third of first-time home buyers received a cash gift or a loan for a down payment from family or friends, according to the National Association of Realtors. That is up from a historical average of 27%.
Meanwhile, so-called peer-to-peer lending sites Prosper and Lending Club say demand for home-related financing is on the rise. And Weemba, a social-networking site, launched a platform in September to connect lenders directly with prospective home buyers and other borrowers.
Driving the demand, say financial advisers, is that despite rock-bottom mortgage rates around 4%, traditional lenders remain reluctant to provide mortgages to anyone with less than stellar credit. And in certain markets lenders are requiring down payments of more than 20% of the home's purchase price.
Scott Nguyen, a human-resources analyst, was denied a mortgage by several banks before getting a $15,000 loan from his mother and sister to use as a down payment on a home in Costa Mesa, Calif. Mr. Nguyen says he has agreed to pay off the loan on a monthly basis over three years, and will end up paying $3,000 in interest.
"Without my mom and my sister's help, I don't think I would have been able to buy the house that I did," he says.
In so-called intrafamily loans, the borrower often saves on interest since parents are likely to charge less than the banks, says Michael Garry, a fee-only financial planner in Newtown, Pa. And parent lenders can earn a higher return from their child's interest payments than they would on a certificate of deposit or money-market fund. Under federal law, on a loan of more than nine years, parents in most cases must charge at least roughly 2.8%.
Of course, intrafamily loans can upset the family dynamic.
Jonathan Bergman, a certified financial planner at Palisades Hudson Financial Group in Scarsdale, N.Y., recommends that parents be clear about how repayment will work. In some cases, it may even make sense to hold back on future monetary gifts or inheritance if it isn't repaid. "The power of the parents' purse is strong," he says.
Consumers who want to look beyond the family can apply at online sites like Lending Club and Prosper. If approved for a loan after a screening by the companies, applicants may then receive money from investors.
At Miami-based Weemba, some 3,000 registered users have started posting loan proposals during the past couple months. Thirty companies including banks and credit unions—up from just a dozen in September—review the applicants and directly contact those they are interested in.
However, these alternative routes to financing can be expensive for borrowers. Rates at Lending Club run from around 7% to 28%, and at Prosper from roughly 7% to 35%. The companies say these rates, which are fixed, are higher than traditional mortgage rates in part because their loans are unsecured.
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Tuesday, December 27, 2011
5 tips to stay on top of home maintenance
Where to find reliable contractors
By Dian Hymer
Inman News®
You're not alone if your roof is leaking and you're kicking yourself for not having called a roofer during the summer months. Most people have a limited concept of preventative maintenance. This can lead to big problems that end up being more expensive than if you had routine maintenance in place.
Many buyers don't understand that home maintenance goes with homeownership. When you rent, someone else usually pays for repairs. As a homeowner, you're responsible for keeping your home in good condition.
Unless you're handy at home repairs, it can be costly to maintain a home properly. But there is a benefit at the end of the line. Buyers pay more for homes that are well-maintained and show a pride of ownership.
It can be a hassle to properly maintain your home unless you organize and prioritize the projects that need to be done. You also need to set a schedule and stick to it.
Most home maintenance can be done annually: roof maintenance (including gutters and downspouts); sealing exterior cracks; weatherproofing; a furnace and air conditioning inspection; and inspecting and cleaning the drainage system.
Mark these events on your calendar so that they can be scheduled for about a month before you'd like to have the work done. If you wait until just before the rainy season to start your annual maintenance, you could have trouble finding good contractors to help you.
Don't wait until your roof is leaking to repair or replace it. There will be collateral damage to the interior of the house. Your homeowners insurance company might pay to repair the interior damage, less the amount of your deductible, but it won't pay to replace the roof. Too many claims could be grounds for not renewing your policy.
HOUSE HUNTING TIP: Assemble a crew of contractors and tradespeople who can help you with your home maintenance. It's not always easy to find reliable people who do good work. You'll end up frustrated and having to do more oversight if you work with people who don't show up or do the job right.
Ask your real estate agent or acquaintances who own homes in the area to recommend tradespeople to you. If the seller is happy with people who have worked on the property, ask for a list of names and contact information when you close the sale.
Homeowners who haven't the time or expertise to determine what needs to be done to keep their home in good shape could ask the home inspector that inspected the house for them to do a reinspection periodically to point out areas that need attention.
One of the keys to good home maintenance is to take care of critical items as soon as they become apparent. For instance, don't postpone repairing a plumbing pipe leak. Have it repaired as soon as you notice it.
Don't assume that because your house is new that you won't have any maintenance issues. If the gutters back up on any house, even a new house, water can leak into the house or down the inside of the walls. This, left unchecked, can lead to a major repair to the framing. If repaired right away, you may just need to seal and touch up the paint.
Likewise, even though you just had the exterior painted, you still may have areas that will need touch up every year or so, especially if they receive intense sun exposure.
THE CLOSING: Don't go for the cheapest contractor or building materials just to save money. If an inferior-quality job has to be redone sooner than anticipated, your savings will dwindle.
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
By Dian Hymer
Inman News®
You're not alone if your roof is leaking and you're kicking yourself for not having called a roofer during the summer months. Most people have a limited concept of preventative maintenance. This can lead to big problems that end up being more expensive than if you had routine maintenance in place.
Many buyers don't understand that home maintenance goes with homeownership. When you rent, someone else usually pays for repairs. As a homeowner, you're responsible for keeping your home in good condition.
Unless you're handy at home repairs, it can be costly to maintain a home properly. But there is a benefit at the end of the line. Buyers pay more for homes that are well-maintained and show a pride of ownership.
It can be a hassle to properly maintain your home unless you organize and prioritize the projects that need to be done. You also need to set a schedule and stick to it.
Most home maintenance can be done annually: roof maintenance (including gutters and downspouts); sealing exterior cracks; weatherproofing; a furnace and air conditioning inspection; and inspecting and cleaning the drainage system.
Mark these events on your calendar so that they can be scheduled for about a month before you'd like to have the work done. If you wait until just before the rainy season to start your annual maintenance, you could have trouble finding good contractors to help you.
Don't wait until your roof is leaking to repair or replace it. There will be collateral damage to the interior of the house. Your homeowners insurance company might pay to repair the interior damage, less the amount of your deductible, but it won't pay to replace the roof. Too many claims could be grounds for not renewing your policy.
HOUSE HUNTING TIP: Assemble a crew of contractors and tradespeople who can help you with your home maintenance. It's not always easy to find reliable people who do good work. You'll end up frustrated and having to do more oversight if you work with people who don't show up or do the job right.
Ask your real estate agent or acquaintances who own homes in the area to recommend tradespeople to you. If the seller is happy with people who have worked on the property, ask for a list of names and contact information when you close the sale.
Homeowners who haven't the time or expertise to determine what needs to be done to keep their home in good shape could ask the home inspector that inspected the house for them to do a reinspection periodically to point out areas that need attention.
One of the keys to good home maintenance is to take care of critical items as soon as they become apparent. For instance, don't postpone repairing a plumbing pipe leak. Have it repaired as soon as you notice it.
Don't assume that because your house is new that you won't have any maintenance issues. If the gutters back up on any house, even a new house, water can leak into the house or down the inside of the walls. This, left unchecked, can lead to a major repair to the framing. If repaired right away, you may just need to seal and touch up the paint.
Likewise, even though you just had the exterior painted, you still may have areas that will need touch up every year or so, especially if they receive intense sun exposure.
THE CLOSING: Don't go for the cheapest contractor or building materials just to save money. If an inferior-quality job has to be redone sooner than anticipated, your savings will dwindle.
For Buying or Selling, it helps to have a guide that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
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