WINDOWS

What is there to know about windows? Lots! It can be very difficult to tell the difference between good and not-so-good (i.e., BAD) windows. Let's look at the different types of windows, the parts to a window and then what to look for in a window.

Windows are one of the most important parts of your home, take quite a beating from the weather and are one of the weak-points in a home's energy efficiency rating.

Window Types

• Casement - These windows are also known as "crank-out" windows. Often, the most efficient of the opening window styles as they crank shut and latch, creating a very tight seal and preventing drafts. Screens are on the inside and can be removed in the winter months, creating a cleaner view out the windows.
• Slider or Gliding - These are perhaps the most common window styles. The name(s) are often used interchangeably with the Double-hung window. Slider or Gliding windows typically move side-to-side.
• Double-hung - Typically move up and down and are very common as replacement windows. A convenient feature of these windows is that they often tilt in, making cleaning easy. Screens are often on the outside, causing the screens to also need frequent cleaning or vacuuming.
• Bow and Bay - These windows often go from the floor to the ceiling or close to the ceiling, adding a small amount of livable square footage for an eating or sitting area. Bay windows have pronounced angles and typically protrude farther than the bow window.
• Skylight - Windows in the ceiling to allow light or in the opening styles, also ventilation into a room.

Window Parts

Sash - portion of the window that opens

Sill - lower horizontal surface of the window

Muntin - pieces dividing the individual glass panes. Current designs commonly use a grid which is a "fake" muntin.

Casing - framing over the window opening on the home's exterior, typically made of wood boards

Glazing - glass or other materials that transmit light through the window

Jamb - portion of window frame against which the sash closes

What to Look for

1. Energy Efficiency

• R-value - this is a measure of the resistance of the window to energy transmission. The higher the R-value, the better insulating the window is
• U-value - the inverse (opposite) of R-value (lower is better)
• UV Transmittance - some windows have a coating to block ultraviolet radiation - the sunlight that causes your curtains and carpet to fade

2. Construction

• Wood exterior or interior - will need paint or stain but can be matched to your home's exterior and/or interior. Think routine maintenance with this, NOT maintenance-free. Look for knot-free construction as knots can cause distortion and bowing.
• Double or triple pane - the more insulating panes, generally, the better insulating qualities
• Low E glazing - E stands for emissivity or the ability of the glass to trasmit radiant heat. Typically will have a thin metallic layer on the glass to prevent radiant heat loss from the home's interior
• Gas-filled - most double or triple pane windows will have argon or some other inert gas in the void to create an insulation layer. NOTE: When the seal fails on the glazing and the gas is replaced by room air, this causes the condensation to form between the panes or the "fogging" that is commonly found in older windows

3. Manufacturer

There are many good manufacturers and different grades of windows with each manufacturer so it pays to do yoru research. Check with builders and trade publications as well as the Better Business Bureau.

Talk with representatives from a few companies that have good reputations or that come recommended and who have products that fit your needs. Choose your windows wisely - they have a dramatic impact on the look and the performance of your home and with good windows and installation, they should last you a long time.

HOME OWNER'S INSURANCE.

What's this? HOME OWNER'S INSURANCE is required by your bank when you purchase a house. It's seems like a basic thing but some people are not aware that you need to purchase it.

Where do I get it?
Most people choose to buy their insurance plan through the same company that currently carries their car insurance. They usually offer a discount for multiple policies so this is your best bet.

Have a backup plan.
Here's another important reason to carry a homeowner's policy. You'll be covered for additional living expenses in case you're temporarily displaced because of damage from a fire or other insured disaster like flood (usually a seperate rider, a "flood rider").

Protect your home business.
If you work from home, you can add an insurance rider for home-based business coverage. It protects home office equipment, and offers general liability coverage against injuiries to clients and employees.

Insure your condo.
When buying a condo you'll actually need 2 insurance policies: one to cover liability, your belongings, and structural improvements; plus a master policy provided by the condo which covers the common areas that you share with others in the building. All condos are maintained by an association and most of them offer insurance as part of the monthly assocation dues so you may only need to get one for you personal items.

Keep up with your property values.
You can purchase an inflation insurance rider, which increases coverage as the home's value rises. You can also get insurance equal to the full replacement value of the home.

Whatever you do, the old saying is true, "Better safe, than sorry."

HOMEPURCHASE 101/First Time HOMEBUYERS (part two)

Writing Your Offer
Now that you've decided on a home to purchase, how much do you offer?
There is much more to an offer than the purchase price!

In addition to offer price, a seller is going to look for the following:

• Earnest Money - the more, the better. Your goal should be $1000 minimum with 1% or more making your offer very strong (more about earnest money later)
• Financing - a pre-approval from an established and known lender that is based on actual credit check and verification of income and assets
• Closing Date - try to find out the seller's preferred closing date and meet it if you can
• Contingencies - the fewer the better and those that you do include, write dates in the PA that say you'll satisfy them as soon as possible (inspection & mortgage underwriting are the main ones)
• Personal Property - try to include only those items they say they are including (don't write in the big screen TV if it isn't explicitly included in the home sale)

The bottom line with all this is good negotiating strategy. Think like the seller and meet their terms on as many points as possible. This may save you several thousand in a lower sale price.

Earnest Money - I promised I would touch on earnest money... Earnest money is money you put down on the home normally in the form of a personal check. The check is cashed only if your offer is accepted. It is then put into a trust account in your name and in the seller's name. The only times it is released to either party are spelled out in the PA and both parties must agree in writing to the release of the money.
It is normally used by the buyer as either:

1. Part of a downpayment
2. Closing Costs
3. It can be returned at the closing in the form of a check

The main or only time your earnest money is in jeapardy is if you as the buyer don't fulfill your contractual obligations as spelled out in the purchase agreement. Ask your Realtor about this to ensure you are absolutely clear on the risks!!!

Final Walk-Through
You'll want to take another look at your house before the closing to ensure:

• all required repairs have been made
• any damage - either new or previously not visible is found
• all items from the PA are still in the home (curtains, appliances, rhubarb, ...)
• no garbage was left behind (tires, chemicals, ...)
• the home is reasonably clean
• appliances, a/c, furnace and other items still work
• Bottom line - limit surprises when you move in!

Schedule the final walk-through for a time when the current owners are moved out and ideally only 1-2 days before the closing. Enough time to negotiate the correction of any discovered items before the closing.

Closing
The closing is when everyone signs the final paperwork. If you want to read (not paraphrase or speed read) each document, you'll likely want to talk with your closer or title agent about pre-signing or about meeting a few hours to a day ahead of time to read through the paperwork. You won't likely have enough time to read each form you sign at the closing in detail.
After all documents have been signed, the sellers will get their money and will give you the keys.
Other things to consider:

• Get any manuals for appliances, furnace, a/c, home warranties (i.e., new roof), ...
• Get garage door openers and garage door opener code
• Exchange phone numbers and ask if it's ok to call them with any questions
• Ask what to do with any mail that comes

Finally, enjoy your new home. Remember it won't be perfect but take it slow, one project at a time and it will become your home!

SWEAT EQUITY

SWEAT EQUITY: the value added to real estate by owners who make improvements by their own toil.

If you already own a home I'm sure you are familiar with doing a few projects around the house. You know when you are doing these that ultimately you are increasing the value of your home. The more labor applied to the home, and the greater the increase in value, the more sweat equity that has been used. Some home improvement projects have the potential to create more value than do other projects. Wallpaper, floor coverings and paint can dress up an old residence and make it more appealing to buyers. Improvements to bathrooms and kitchens are the most valuable sources of additional value.

There are many helpful websites that you can go to and utitilize when planning your projects. Our favorite website is www.homegain.com
On there you can read about how to do projects on your own and the costs and ramifications on each individual one. It has videos that you can watch and they talk you through different projects. Highly recommended!

When you are working on bigger projects make sure to pull the necessary permits associated with the job; you could run into big problems later if you fail to do so.

Another helpful website (mostly for kitchen remodels) is www.kitchendesign.HGTV.com
On this website you can figure out a kitchen budget and play around with different color palettes and organization strategies. Remodeling a kitchen can be one of the most expensive remodels for your house but will also add the most bang for when you go to resell. Remember, most women make the final decisions and they love kitchens!

Sweat equity can be used in all types of homes. New construction homes still need a lot of work after you move in. Most of them need landscaping, gutters, paint, a deck, and a fence if needed. Old homes will never let you down as most of them could use major updating. Whenever you decide to tackle a project, make sure you do your research and have a budget set aside or you will be surprised how quick the expenses add up.