As a real estate appraiser I am often asked the question, “does the low sales price of the foreclosure or auction sale transacted in my neighborhood negatively influence the appraised value of my home?” It’s a difficult question to answer, especially when you are answering it to a woman on the phone with you who is already crying because she lost her entire life savings when she lost the equity in her home. Sadly the answer to that question is often yes. If the foreclosure or auction sale was a “market sale” that was not transacted under duress, it must be considered together with the other neighborhood home sales when the property is appraised.
Appraisers consider, however, the fact that some foreclosure and auction properties are in sub-standard condition. Many foreclosure and auction properties are in need of new paint, flooring, doors, pool repairs, roof repairs, new fixtures or they had some other deferred maintenance that will require a significant cash outlay by the buyer. It is reasonable for an appraiser to adjust a comparable sale if that sale was in need of repairs on its sale date.
As Las Vegas, Nevada appraisers and agents we have found that there are generally […]

Full Article At: KnowHow-Now.com Articles

Bookmark to:

Water damage in the home is often covered by homeowners insurance. For example, insurance may cover your losses due to a burst pipe or leaking appliance. However, if your home is flooded because a nearby river overflowed its banks, you’re on your own (unless you have a national flood insurance policy from the National Flood Insurance Program).Water damage claims are tricky. For example, if your home floods because a high wind event blew off the roof and torrential rains damaged your home, the damage will likely be covered but if the flood is the result of storm surge, you’re probably on your own.Below are a few water damage claims that are typically covered by insurance: - Burst pipes - Bathtub and sink overflows - Washing machine and other appliance overflows - Water damage from leaking roofHowever, insurance policies are filled with loopholes. For example, if your pipes burst because they froze overnight while you were sleeping, the insurance will cover the water damage. However, if you left the home with the heat turned off while on vacation, then expect the insurance company to deny the claim on the grounds that you didn’t perform necessary upkeep of your home.In addition, say […]

Full Article At: KnowHow-Now.com Articles

Bookmark to:

You may have dreamed about owning something for a long time 0 a boat, for instance, or a sports car. But your regular income just won0t run to it. Does this mean that you have to abandon the idea?
Some would say, yes 0 you should cut your coat according to your cloth. But in the current financial climate, it0s increasingly easy to obtain a secured personal loan.
What does 0secured personal loan0 mean? It refers to a loan provided against security supplied by yourself, such as your home. Of course if you are not a homeowner, it0s much more difficult to obtain a secured personal loan, unless you have some other valuable possession such as an expensive car.
So what are the main reasons you might want a secured personal loan?
0 Debt consolidation. This is still the number one reason why people take out a secured personal loan. If you find you are over-committed financially, it can make sense to roll your debts into a single monthly payment. But never forget that the debts are still there! If your financial management isn0t great, you could be putting your home at real risk.
0 Car. If […]

Full Article At: KnowHow-Now.com Articles

Bookmark to:

Detroit Schools battle the classic struggles of a major city: high teacher turnover, high dropout rates, low test scores, and on-going violence. For some of Detroit Schools, however, all these problems may soon disappear. 34 Detroit Schools are slated to close by fall of 2007. Problems such as deteriorating buildings, failing test scores, and shifting populations compelled board members of Detroit Schools to recommend the closing of such facilities.
Apparently, some of the students like school a bit more than they had let on. Several hundred students from Northern High School and Murray Wright High School arranged protests and rallied the Detroit Schools at the District Office. Another organized protest at Northern ended in 2 arrests, and several students being pepper-sprayed or detained. But it worked. The Boards Human Resources Committee turned over a recommendation to take both schools off the list along with Mackensie High School and Higgins Elementary School.
Parents of Higgins Elementary students kept their children out of school last week to protest the closing. Now everyone waits. The Board of Education will vote whether to take those schools off the list permanently, or let the ax fall. School closings cause controversy because the schools effected tend to be […]

Full Article At: KnowHow-Now.com Articles

Bookmark to:

We0ve all heard often enough that it0s time to start thinking and acting green. We0re depleting the Earth0s resources in record amounts, and it0s becoming more and more clear that we need to start thinking in terms of protecting and preserving the Earth and her resources when we build. Despite all the public knowledge about the importance of sustainable and renewable building practices, there0s still a lot of resistance to the idea of 0going green0. One of the biggest reasons 0 the notion that it0s more expensive to use sustainable materials and consider environmental issues.
Obviously, it0s not financially feasible for most of us to completely gut our homes and replace them with totally green and environmentally responsible buildings, but that0s not the only way to accomplish the goal of living a greener life. There are a lot of things that you can do on a shoestring budget (see my article from last week for some ideas) that don0t require any major investment of either time or energy. You can take bigger steps toward living a greener life when you0re ready to make major renovations to your home. While there0s a general belief that choosing greener products and alternatives will cost […]

Full Article At: KnowHow-Now.com Articles

Bookmark to:

Natural disasters such as wildfires, hurricanes, tornadoes, and floods have been making headlines. We’ve seen hundreds of homes go up in flames in southern California; thousands of homes battered by hurricanes and tornadoes in Texas and the south; and thousands more submerged by the mighty Mississippi and other swollen rivers. These catastrophes play themselves out over and over. The locations may change but the story is the same: heartbreaking devastation.While wildfires, catastrophic storms, and floods cause widespread damage, the nation’s homes are regularly damaged by less ominous forces: baseballs that break windows; stove top fires cause smoke damage; burst pipes damage walls, flooring, and furnishings. Other regular homeowners insurance claims include fire, theft, vandalism, mold, hail damage, water damage, and more. Throughout the nation, homeowners regularly file insurance claims, even in the absence of catastrophe.No matter what has damaged your home, if it’s covered by your insurance policy, you can rest easy knowing that it will be taken care of - or can you? Insurance companies are businesses that need to make a profit in order to survive. Part of that profit comes from premiums and another part comes from minimizing insurance losses.One way to minimize insurance losses is to […]

Full Article At: KnowHow-Now.com Articles

Bookmark to:

Roof leaks are caused by several factors. Usually, it is not one of these things alone that causes leakage, but a number of these combining to break down the protective covering over the building. These factors or conditions are as follows:
1. Poor Roof Construction — This has become a serious problem in the past 15 years or so. Due to constant changes in the economy, the bidding on new structures (which includes virtually every kind of building including schools, hospitals, apartment buildings, shopping malls, and industrial buildings) has become so fierce that to get the job the roofing contractors must cut corners.
The roofing contractors must fight the weather to meet completion deadlines. Oftentimes installation continues during unfavorable weather conditions. Sometimes moisture is trapped in the roofing system and can contribute to early failure of the roof.

The results of corner cutting are cropping up, all across the country, in the form of inadequate roof insulation, poor roof decks, and the use of 2-ply instead of 3-ply and 4-ply paper in building the new roof. It is now not uncommon for a new roof to leak not long after it has been laid down.
2. Normal Aging and Weathering - A […]

Full Article At: KnowHow-Now.com Articles

Bookmark to:

Many homeowners clean their own gutters or hire someone each season to properly maintain their homes. What you may not realize is that most gutter systems should be cleaned 3-4 times a year with each season.
You may be wondering why should I clean out my gutters so often? The reason is each season trees go through various cycles that can clog up your gutters. In spring, most trees drop seedlings and dead twigs. Spring is also the best time to inspect your gutters for any damages that may have occurred during the winter snow. In summer, trees lose leaves from heavy storms and high winds. In early fall, you should remove leaves that have fallen early to keep your gutters flowing freely. At the end of fall or early winter, you want to make sure everything has been properly cleared from the gutter system to help prevent ice dams or buildup of ice in your gutters. The extra weight of frozen water in your gutters can easily cause them to pull away from the fascia and in many cases, fall off the house. Improper gutter maintenance will lead to clogged or damaged gutters and can cause thousands of dollars in […]

Full Article At: KnowHow-Now.com Articles

Bookmark to:

Power washing may seem like something that’s easily done to remove mildew and mold from your deck, patios and siding. However, many homeowners have found that there is quite a bit more involved than just renting a machine and blasting it off your property. Over the years it’s become a skill that most homeowners have decided they don’t have the time or patience to learn how to do it properly.
Since the Environmental Protection Agency (EPA) started banning the use of pressure treated wood due to chromated copper arsenate (CCA), most people have decided to seal their wood decks as the EPA suggests to prevent the arsenic from leaching into the soil. Most homeowners use local companies to pressure wash their decks and siding to save valuable time and the expense of rental equipment and some prefer to do the job themselves on a hot summer day.
If you decide to hire a contractor to perform the work for you, there are a lot of important questions you need to ask before you should allow them to work on your home. First, make sure the company your hiring has the experience and the right equipment to perform the job properly, using more […]

Full Article At: KnowHow-Now.com Articles

Bookmark to:

This article was written to explain the causes of ice dams and how to remove them safely. For more information or pictures of the processes see ice dam removals.
The art of ice dam removal. By Henry’s Housework
You may have noticed long icicles hanging from your gutters and not realize the significance of the damage that may be occurring behind them. Icicles are usually one of the first warning signs of possible ice dams on your roof. This article will explain what ice dams are, how they form and the best methods for removing them safely.
What is an ice dam?
An ice dam is a wall of ice that forms at the edge of the roof, usually at the gutters or soffit. When it forms the water then backs up behind the ice dam and creates a pool of water. This pool of water can leak into your home and cause damage to walls, ceilings, insulation, and other areas
What causes ice dams
Ice dams are usually caused by heavy snowfall and improper ventilation in the attic. This causes warmer areas in your attic then the snow begins to melt, even when the outside temperature is well below freezing. When the accumulated snow on […]

Full Article At: KnowHow-Now.com Articles

Bookmark to: