Real Estate, Interior Redesign & Staging! How to stage, sell, buy & decorate homes!

Consider the Face of a Home Before Buying

November 5, 2007 · 1 Comment

The exterior of a house is a big factor in how much maintenance expense a home owner will face as the years go by.

Before purchasing a house, buyers should ask sellers about previous exterior maintenance. When did they last paint? How much did it cost?

North Carolina contractor John Harmon and real estate professionals from the Charlotte area offer these tips for buyers contemplating which exterior to prefer.

  • Wood looks great, but it must be painted or stained and is susceptible to rot and termites.
  • Brick is durable, never needs painting, is fire-resistant and energy efficient, but shifts in the soil and constant contact with rain and snow and can cause cracks in the mortar between the bricks. Re-pointing a house is expensive, so buyers should make sure the seller takes care of any problems with deteriorating brick.
  • Vinyl siding, if properly installed, is durable and needs little maintenance. Newer vinyls with insulated backing are rigid and energy efficient. From a distance, it looks like real wood. But vinyl tends to fade and can’t be repainted, and some people also think it looks cheap.
  • Fiber cement is a durable, low-maintenance siding that looks like wood. It resists fire, water and termite damage. It holds paint well and isn’t as expensive as it once was.
  • Stucco looks like concrete. It’s similar to brick in durability, maintenance and price.
  • Synthetic stucco applied over Styrofoam has had problem with rot and mold. Anyone interested in buying a house covered with this material should have it inspected by a stucco specialist before buying.

Source: Realtor Magazine: Charlotte Observer, Kathy Haight (10/27/07)

Categories: Real Estate
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Fed Cuts Rate a Quarter Point, Banks Respond

November 5, 2007 · Leave a Comment

The Federal Reserve cut the federal funds rate by one-quarter percentage point to 4.5 percent Wednesday.

In response, commercial banks, including Bank of America, Wells Fargo, and KeyCorp., announced that they were cutting their prime lending rate for certain credit cards, home equity lines of credit, and other loans by a corresponding amount, to 7.5 percent.

The decline in these rates generally also pushes down first mortgage and refinance rates.

For the full story visit Realtor Magazine
Source: The Associated Press, Jeannine Aversa (11/31/07)

Categories: Real Estate