Tag Archives: Home Maintenance

Smoke Alarm Requirements for Home Improvers and Landlords

Summary provided by California Association of Realtors:

Starting not next year but January 1, 2014, for all dwelling units intended for human occupancy for which a building permit is issued for alterations, repairs, or additions for more than $1,000, the issuer of the building permit will not sign off on the completion of work unless the owner demonstrates that all smoke alarms (previously “smoke detectors”) required for the dwelling unit are devices approved by the State Fire Marshal.

Also starting January 1, 2014, to be approved and listed by the State Fire Marshal, a smoke alarm must display the date of manufacture, allow a place for the date of installation to be written, incorporate a hush feature, incorporate an end-of-life warning, and, for battery-operated devices, contain a non-removable 10-year battery.

These rules may be superseded by a local rule or ordinance that is more stringent than state law.

For properties rented or leased, an owner is generally responsible for testing and maintaining smoke alarms in an apartment complex or other building starting January 1, 2013 and in a single-family residence starting January 1, 2014, and also responsible for installing additional smoke alarms as needed to comply with building standards starting January 1, 2016. Senate Bill 1394.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

Coldwell Banker Realty Check — September 2012

 

FirstTimeHomebuyers

Now that the housing market is picking up once again, a growing number of first-time homebuyers are jumping in, attracted by relatively low home prices in some areas and historically low mortgage interest rates. In fact, many first time homebuyers have discovered that for the first time in years it’s actually cheaper to own a home than it is to rent one.

The Joint Center for Housing Studies at Harvard recently reported that the median priced home in the U.S. (when calculated in today’s dollars) is roughly half as much as it was in 1990! And as rents have steadily risen in recent years, the Harvard study found that mortgage payments on the median U.S. home is now 23 percent less than rent payments for the same home.

So as new buyers look to take advantage of this great opportunity, what are they looking for in their first home – and what do they need to know about buying real estate for the first time? We thought it would be interesting to take a look at the wants and needs of new buyers, as well as offer them some tips as they enter the housing market.

What are new buyers looking for in a starter home? In a survey of 300 consumers who purchased their first home in the last year, Coldwell Banker found that the vast majority wanted a move-in ready home near work and good schools. Specifically:

  • 87 percent said finding a move-in ready home was important or very important to them;
  • 78 percent said they wanted the home to be convenient to shops and services;
  • 75 percent said they wanted to be near their job;
  • 66 percent chose proximity to highly rated schools;
  • 61 percent noted they wanted to be close to extended family;
  • 61 percent said they preferred having lots of open space nearby;
  • 51 percent cited the importance of a lively neighborhood with restaurants and nightlife;
  • 45 percent wanted accessibility to public transportation;
  • 36 percent said being near recreational venues like golf was important;
  • 36 percent preferred being close to galleries, museums and theaters;

According to a recent survey from the National Association of Realtors, seven out of 10 renters say owning a home is a top priority.

If first time homebuyers are trying to decide whether buying a home is the right decision for them, there are a couple of things they should consider.

At or near the top of every potential homebuyer’s mind is whether or not they can afford to buy a home right now. Buying a home remains a sound financial decision for those with documented income and a good credit history, and a steady income can provide a strong backbone for the initial down payment and future mortgage payments.

Also, potential buyers should consider what their other options are and make a cost comparison. For renters, calculating month-to-month housing expenses is as easy as inquiring about the monthly rent and average utilities. The calculation gets a bit more complicated when considering the monthly cost of owning a home.

A real estate professional and a mortgage broker can help a first-time buyer understand the range of financial considerations including annual property taxes.

While buying a home today is a great value compared to renting, there are a number of additional costs that come with homeownership. All buyers need to be aware of these expenses and to incorporate those costs into a budget.

Some of these expenses can be planned for in advance, while others may require homeowners to set aside funds each month to cover their needs. Here are a few important ones to keep in mind:

Furniture
Homes can appear smaller than they actually are when individuals are visiting an open house. This is primarily because the house is full of furniture, accent pieces and accessories. But when first-time homeowners relocate from a one or two-bedroom apartment to a home, they may find that they don’t have enough furniture to fill the place. Owners can keep their costs low by picking up accent pieces here and there, rather than all at once. In addition, purchasing furniture from warehouse factories, collecting trinkets and accessories from yard sales and shopping for used items online can help buyers find pieces that appeal to their tastes without breaking the bank.

Property insurance
New homeowners will want to protect their assets by providing sufficient insurance coverage. It’s crucial to shop around for an affordable plan that adequately covers all of a homeowner’s needs. Insurance experts urge owners to choose a policy that covers rebuilding costs, rather than the initial purchase price or value of their home. In addition, homeowners should read the policy carefully to make a determination about purchasing additional coverage for disasters or scenarios their standard policy may not cover.

Maintenance
Properly maintaining a home, such as cleaning the roof, ensuring the wiring and structure is sound and replacing appliances can be expensive over the years. It is important to realize that maintenance can be financially rewarding in the long run, as it may help avoid structural, water and electrical damage.

Utility Bills
The costs of electric bills, water, heat and air conditioning can run significantly higher in a home than an apartment. It may take homeowners some time to determine how often to actually run the heating and air conditioning and get into the practice of turning off lights and appliances when they are not in use to keep utility costs low.

Buying your first home can be an exciting endeavor, but it’s a big step and thus first-timers will have lots of questions. That’s where I can help as a professional Realtor. Don’t hesitate to contact me even before you’re ready to buy a home. I can answer questions about the process and help new buyers find that perfect starter home when they’re ready to move forward.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

One Cool Thing — Home Buying Process


Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

Coldwell Banker Realty Check — July 2012

MontereytoTahoe
The words million-dollar home used to evoke thoughts of grand estates in the country or oceanfront homes with breathtaking whitewater views or a glamorous penthouse in a downtown high-rise. In some cases, a million still may buy you that – somewhere, at least.

But of course, the three rules in real estate still are location, location and location. What you get for $1 million today in Northern California varies dramatically depending on where you’re looking to buy.

MontereytoTahoe1

To see what buyers could get for their million dollars we decided to take a look at communities from the Monterey coast to Lake Tahoe, from Silicon Valley to Sacramento, and many locations in between. What we found made interesting and fun reading.

In the state capital, for example, buyers could purchase a spectacular lakefront custom home, approximately 4,700 square feet, only 10 minutes from downtown Sacramento for $989,000. This beautiful property features four bedrooms and four baths, a gourmet kitchen, grand staircase, and a huge master bedroom suite with separate sitting room and fireplace.

MontereytoTahoe4

 

If you want to trade that lakefront property for one near the ocean, be prepared to pay up. For $1 million you can snag a cute two-bedroom condo approximately 1,500 square feet in posh Carmel by the Sea. A few blocks off fashionable Ocean Avenue, this unit is about a mile or so from the Pacific Ocean.

The reason for the disparity, of course, is that property values are considerably more affordable in Sacramento than in Carmel. According to DataQuick, the real estate information company, the median sale price for a Sacramento home in May was $129,000 compared to Carmel and nearby Pebble Beach, which boast a median price of more than $1.2 million. Put another way, you could buy nearly 10 median-priced properties in Sacramento – or a good-size residential block – for the cost of one median-priced home in Pebble Beach.

The Monterey Peninsula doesn’t have a lock on valuable real estate. In fact, several communities in Silicon Valley and its surrounding suburbs topped that list, including Atherton with a median sale price of $3.5 million. Unfortunately, it is currently not possible to compare what $1 million would buy in Atherton because there are no properties listed for sale at that low of a price. The least expensive listing in Atherton: $1.35 million for a 1920s cottage.Elsewhere in Northern California, here’s what you can buy with $1 million based on current active listings in July:

  • Oakland – a four-bedroom, three-bath single-family home in the Oakland hills measuring approximately 3,100 square feet. This home includes 18-foot vaulted ceilings, a three-car garage and some views of the bay.
  • Pleasanton – a four-bedroom, two and a half bath approximately 2,700-square-foot contemporary home with views of Mount Diablo. Large backyard includes pool and spa with waterfall, and built in barbecue.
  • Tiburon – A one-bedroom, two bath approximately 950-square foot waterfront cottage. While the home is small in size it has sweeping views and is close to the ferry, the yacht club and Tiburon restaurants and shops.
  • Santa Rosa – a four-bedroom, four-bath custom home overlooking the Riebli Valley. This approximately 5,800-square-foot property features a high-end kitchen with Viking and Bosch appliances, a bedroom suite with fireplace, plus a media/theater room.
  • Palo Alto – a two-bedroom, one-bath approximately 1,150-square-foot cottage near the downtown area. This cute property actually is on leased land with 54 years left on the lease.
  • San Francisco – a uniquely rebuilt approximately 900 square-foot, one bedroom, two level compact single family house could be a perfect pied-a-terre in the City. It’s located near the Bay Club, Jackson Square, the waterfront and Ferry Building.
  • Davis – a four-bedroom, three-bath approximately 2,800-square-foot newly updated custom home with his and her walk-in closets, a gated pool, and a chef’s designer kitchen complete with Wolf ovens, six gas burners, and two Miele dishwashers.
  • Roseville – a five-bedroom, four-bath approximately 5,100-square-foot home in a gated community. Built in 2001, this expansive home features a solar-heated pool, a three-car garage and five fireplaces.
  • Truckee – a four-bedroom, three-bath approximately 3,200-square-foot mountain home situated a block from the golf course and a short drive to downtown Truckee and numerous ski resorts.

While it’s uncertain exactly what you can buy with $1 million today, one thing is clear: This may be a great time to take advantage of low mortgage rates and lower home prices to buy a home anywhere.In fact, for the first time in a long, long time, it’s actually cheaper to own a home than to rent the same home. That’s one of the findings of a new report by the Joint Center for Housing Studies at Harvard.

MontereytoTahoe2

Due to historically low mortgage rates and lower home prices post-recession, affordability levels for purchasing a home are as high as they’ve been over the past two decades. Conversely, the cost of renting is soaring in many regions, including right here in the Northern California.

San Francisco and Oakland had the biggest jumps in rent in the United States over the last year, with increases of 14.7 percent and 11.2 percent, respectively, according to Trulia, the online real estate site. Sacramento also saw a 4 percent increase and 24 of the 25 largest metropolitan areas had experienced year over year rent hikes.“With rents up, home prices sharply down, and mortgage interest rates at record lows, mortgage costs relative to monthly rents haven’t been this favorable since the early 1970s,” said Eric S. Belsky, managing director for the Joint Center for Housing Studies at Harvard.

 In its report, Harvard noted that the mortgage payment for the median priced home in the U.S. (when calculated in 2011 dollars) is roughly half as much as it was in 1990! Nationwide, the payment-to-rent ratio was as high as 1.45 in 1990. (A one to one ratio means the cost would have been the same to rent vs. to buy). That translates into a 45% premium in renting vs. buying in 1990. Today? The study says the ratio has tumbled to 0.77, making mortgage payments 23% less than rent payments for the median priced home.
MontereytoTahoe3
Many potential buyers have gotten the message and they are the reason that home sales in some parts of Northern California have rebounded nicely in the past year or two. The Harvard study says that others who have been sitting on the fence could join them soon as rental costs continue to rise, especially relative to homeownership costs.“Many would-be buyers have stayed on the sidelines waiting for the job outlook to improve and house prices to stop falling,” Belsky said. “But as markets tighten, these fence-sitters may begin to take advantage of today’s lower home prices and unusually low mortgage rates.”So if you’ve been putting off buying a home, there may not be a better time than now to jump into the market. Coldwell Banker Residential Brokerage professionals are ready to help. Just give me a call today and we’ll work together to find the home of your dreams.


Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

Coldwell Banker Realty Check — June 2012

MarketLeader

In real estate, as in many things in life, size and experience do matter. Buying or selling a home is often the single largest financial decision any of us will make in our lives. It’s an extremely complex and time-consuming process, with lots of exciting opportunities but plenty of potential pitfalls as well. This is no time to take a chance by working with an amateur.

Especially in today’s challenging market, it pays to use the best real estate company in the field. Hiring the top real estate brokerage means you’re working with the most successful company in your local market, whose agents have a long and proud track record of efficiently and effectively marketing properties and helping consumers just like you find the home of their dreams.

And in Northern California, that undisputed real estate market leader is Coldwell Banker Residential Brokerage.

Coldwell Banker’s record of success dwarfs all other real estate brokerages in the Sacramento-Tahoe area. The company’s market share for sales volume is nearly twice as much in Northern California as its closest competitors so far this year and nearly three times the market share of the third place brokerage.

Through its internationally renowned Coldwell Banker Previews® program, the company leads the luxury home market in Northern California, representing more than 22% of all dollar volume sold of properties over $1 million.

This kind of professional success doesn’t just happen. It’s earned by the hard work of nearly 800 of the most experienced and savvy Realtors in the business who work for Coldwell Banker Residential Brokerage’s 13 offices in the Sacramento-Tahoe area. Their proven track record is just one reason why buyers and sellers, year after year, come back to Coldwell Banker for all their real estate needs.

Because Coldwell Banker’s sales professionals have handled so many transactions, they truly understand the ins and outs of the local real estate market. Our Realtors not only know the homes and specific neighborhoods in our communities, they often know the sellers and potential buyers, the local schools, community parks, commute times and even some of the best restaurants for great pasta!

Working with the industry leader also means having the networking advantages that small brokerages can’t touch.

The real estate business has changed so much over the years. While the buyer of your home may still come from across town, there’s also a decent chance that he or she may come from across the country – or even across the Pacific or Atlantic. Having the local, national and international reach of Coldwell Banker expands your marketing potential in an increasingly global economy.

Coldwell Banker Residential Brokerage has 62 office locations and more than 3,600 sales associates throughout Northern California.  Last year the company handled 13.5 percent of all dollar volume sold in Northern California, more than double its nearest competitor. In all, the Coldwell Banker organization boasts 85,000 sales professionals in 3,100 offices across the country and more than 600 additional websites around the globe..

Some other advantages of working with Coldwell Banker Residential Brokerage, the market leader:

The best agents in the business. A real estate company is only as good as its individual agents. Year in and year out, our agents often rank among the top Realtors – not just in our local market, but throughout the United States. Fourteen of Coldwell Banker agents in Northern California have been ranked among the top 1000 Realtors nationally for sales last year by the prestigious Wall Street Journal annual survey released in June.

  • The best agents in the business. A real estate company is only as good as its individual agents. Year in and year out, our agents often rank among the top Realtors – not just in our local market, but throughout the United States. Nationally, Coldwell Banker scooped up more spots than any other brand in this year’s prestigious Wall Street Journal/Real Trends ranking of the top 1,000 Realtors in America. A total of 218 Coldwell Banker agents made the list for sales volume and number of transactions, fully one out of every five honorees!
  • Superior professional experience. Our agents are some of the most seasoned veterans of the Sacramento-Tahoe market. Many have helped consumers buy and sell dozens or even hundreds of homes over the years. Our highly skilled agents have managed to succeed for their clients in good times and in bad, in booming markets and in recessions.
  • Local market knowledge. There’s an old saying that “all politics are local.” The same can be said about the real estate market. It doesn’t matter what the national real estate market is doing; what matters most is what is happening here in the Sacramento-Tahoe region. You need a real estate broker that knows your market and the homes within your price range. Coldwell Banker agents know the ins and outs of different neighborhoods, how best to effectively market your home or which areas might provide you with the best home to suit your needs and budget.
  • A leader in corporate relocations. Business relocations account for a number of homebuyers in many cities. Few real estate companies generate more corporate relocations in Northern California than Coldwell Banker Residential Brokerage. Each year, we assist nearly 5,000 relocating buyers and sellers. Our connections mean we’ll show your home to corporate transferees that most real estate companies don’t have access to.
  • Incomparable marketing support. Coldwell Banker Residential Brokerage provides critical exposure of your home through a sweeping, aggressive local and regional advertising presence. The power of global advertising with the most recognizable brand name in real estate puts your listing in front of an ever-increasing pool of potential buyers.
  • Cutting-edge Internet exposure. Nearly nine out of 10 homebuyers begin their real estate search online. It’s no longer enough to use traditional print and direct mail advertising to sell a property. Coldwell Banker offers not just one but a host of popular websites to match buyers and sellers. Besides Californiamoves.com and ColdwellBanker.com, we tap into sites hosted by the New York Times and Wall Street Journal, REALTOR.com, Trulia.com, Yahoo Real Estate and many more.
  • Superior training for agents. The real estate business is a very challenging and complex field that changes all the time. That’s why it’s critically important for agents to stay on top of the latest professional and marketing issues. Our agents receive comprehensive training in all aspects of the real estate transaction process. By receiving the most up-to-date professional education, our agents make sure you receive the very best possible support to meet your real estate goals.

Buying or selling a home is never easy. But by working with the best real estate company in the industry you can make the experience a whole lot easier. If you’ve been thinking about buying or selling a home, now’s a great time to jump into the market. And Coldwell Banker Residential Brokerage professionals are ready to help you get the most for your property or find the home of your dreams. Just give me a call and we’ll get started today!


Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com