Considering a new roof, some tips to find the best contractor
March 27, 2009
The summer months are typically the best time to replace a roof. If you are a home owner and your home improvement plans include the potential of replacing your roof there are some simple steps you can follow to make sure that you receive the best prices, professional installation and quality roofing products. If you are not able to secure a roofing contractor referral from friends or family and you need to start your search online, you can start your screening process with some key questions:
- Does the roofing company offer free estimates in writing
- Are they licensed and insured in your state, will they provide you with a copy of the license in writing
- Do they have employees or subcontractors that perform the work
- Check with the better business bureau to see if their are any complaints against them
Once you have identified two or three companies that you feel comfortable providing you with estimates, then you will need to do some addional legwork. Find out how long the company has been in business, do they operate under any other names, etc. When the company comes out to provide you with a written estimate, ask them for references of jobs they have done in your area. Ask for a detailed estimate of costs in writing, make sure their are no potential hidden fees that can be added later. Request a list of the manufactures a company does business with and what their product warranties cover and for what period of time.
A critical piece to consider is that this is a large investment for your home. Choosing to work with the lowest price company may not always work in your favor. Choosing a roofing contractor should be a combination of workmanship, product quality, safety, price and their ability to deliver as promised
Real estate sales perk up
March 23, 2009
The real estate market saw some surprising news get released today as the National Association of Realtors reported that existing home sales for the month of February were up over five percent. The news could provide the housing industry with a boost of confidence that buyers may finally be returning into the market. The majority of new sales were believed to have been from buyers purchasing distressed properties (home foreclosures) at prices well below market value. The real estate market could get a boost from the new tax rebates available to all primary residence purchases and mortgage interest rates that are well below historic lows.
Investors appear to be the most agressive group in the buying market today, eager to purchase homes at prices that could be discounted up to 80% of the homes appraised value from as little as two years ago. The foreclosure market is providing another boost to the economy as it is providing a steady stream of work for home contractors and builders who are working to bring the properties back to code or adding value for a future sale. Most investors have resorted to paying cash for these properties as they are not able to obtain mortgages due their condition. The foreclosure proplem has become an even larger challenge for the real estate market because in most cases lenders will not offer mortgages on the very properties they own and are trying to sell because these properties are often in conditions that do not pass appraisal guidelines for items such as electrical, bathrooms, kitchens, roofing, etc. Individuals who are trying to obtain mortgages for these properties are in some cases turning to a special fha loan called a 203b rehab mortgage that allow for a property to be purchased with the intent of making future repairs and this money is included in the borrowers new home loan.
Foreclosed properties have become a major political hot point as home owners, lenders and communities all have a vested interest in trying to restore the real estate maket and slow down the pace of foreclosed properties on the market. President Obama has attempted to reconcile the foreclosure issue by rolling out a loan modification and refinance incentive program to help provide home owners with new opportunities to lock in lower rates or secure a fixed interest rate, even if their home value is below their current loan balance.
Home owners turn to the sun for solar energy savings
March 16, 2009
The number of home owners who are likely to turn to solar energy to power their homes is expected to grow. As the worlds fastest growing source of energy solar power is a major component of President Obamas’s green energy push for America oil independence. Solar heating systems have been around for over forty years, but the technological advances of the past ten years have helped to significantly reduce the costs as well as greatly reduce the size of the units required to produce an adequate amount of electricity. Most homes today that are powered by solar energy use a combination of solar and traditional utility energy power. Homeowners that are able to generate excess energy through their solar panels are in some cases able to sell this extra supply back to the power company. Newly built homes and subdivisions that are incorporating the use of solar power through a grid system can share the benefits of the extra supply and help to further reduce the need for traditional utility power.
Many manufactures today are making kits for home solar installation available online. There is also a growing push by independents offering tutorials on how to make your own solar power energy kits at home. For consumers who are truly interested in exploring the costs and benefits of converting your home to be solar energy dependant, solar panels can start in the low $200 range per panel. The number of required panels, installation and adequate energy storage device will all factor into the total required investment. If you are considering the move to solar, you will most likely need to contact a local company or companies to review estimates and identify if the expected amount of solar power you could generate.
Tax credits for both solar water heating systems as well as photovoltaic systems for installation will be at 30% of the project costs for 2009 & 2010 and the $1500 cap for energy efficiency items is exempt, allowing for a much larger tax credit where applicable.
