Posts Tagged ‘Susan Pond Real Estate Northern Colorado’

This may be the best time EVER to purchase a home!

Wednesday, December 9th, 2009

Since it was passed into law in February of this year, the $8,000 First Time Home Buyer Tax Credit has become the “new black” in the Real Estate Industry. Thousands of people have taken advantage of this wonderful opportunity and are experiencing homeownership today.

Do All Good Things Come To an End?!

Eventually, but how about this for some good news: The First Time Home Buyer program originally expired November 30th, but has recently been extended through April 30, 2010! That IS good news!

But what if you already own a home? What if you have owned many homes in your lifetime? What if you are just a few payments away from becoming mortgage-free?
Today, let’s PONDer…

NEW! ~ $6,500 Move-Up/Repeat Home Buyer Tax Credit ~ NEW!

You say you have not heard of this credit? I’m not surprised. The bill was passed just a few weeks ago on November 6, 2009.

Eligibility for the Move-Up/Repeat Home Buyer Tax Credit (in a nutshell) is as follows:
• You must have owned your home & lived in it for 5 consecutive years out of the past 8 years.
• Just like the First Time Home Buyer Tax Credit, it does not have to be repaid to the government.
• The Tax Credit is equal to ten percent of the purchase price up to $6,500 and only applies to homes priced at $800,000 or less.
• Homes must be purchased between November 6, 2009 and April 30, 2010.
• A single taxpayer qualifies for the full tax credit as long as his/her income is $125,000 or less and a married couple filing a joint return qualifies with a combined income of up to $225,000.

The above information is an overview. If you have questions or concerns, please contact me today to discuss either one of these Tax Credits in more detail. As you can see, time is of the essence. Once these programs disappear, who knows if they will return.

I firmly believe that now IS the VERY BEST time to buy a home! If you believe this, too, call me today and let’s… PONDer our Possibilities!

P.S. Want to close by December 31st and claim your tax credit this year? Check out my listings on my website at www.susanpond.com, one of these homes may be just right for you!

What You Need to Know About Home Fixture Warranties

Tuesday, February 10th, 2009

Did you know when you purchase home fixtures they most likely come with a warranty? Most people are not aware of this. Or perhaps, they are, but are disillusioned by the ugly little word after the first time they took their shiny new car in to the shop to be fixed under that pricey warranty package the salesman offered, only to find out that “knocking” noise is not covered…!!

So today I’m PONDering, “How do I hold a manufacturer accountable for producing defective products?”

I recently came across an article that I thought was interesting and addressed some interesting questions. Let’s take a look…

After reading this article, let me know what your thoughts are and if you have personal experiences you want to share. I enjoy hearing from you.

Truth about home fixture warranties
BY
PAUL BIANCHINA

Thursday, February 05, 2009

Warranties are something we see on a myriad of home improvement products, from roofing and siding to faucets and electrical outlets. They’re intended to give the consumer some specific legal recourse should the product fail to perform properly, as well as some general psychological peace of mind.

But how valuable are warranties? Do they cover what you think they do, and can you rely on them to really protect your financial investment in the event of a problem? The truth is: probably not as much as you’d hoped.

READ, READ, READ

The first thing you need to do with any warranty is to request and read a copy of it before you make your purchase. Some warranties are very simple and straightforward, and others are lengthy, convoluted and fraught with legalese. Nevertheless, you need to read it to the best of your ability.

One of the first things you will notice about virtually any warranty is that it is tied to very specific steps that must be followed by the person installing the product, whether it’s you or someone you hire. Failure to follow the steps exactly will typically result in the warranty being void, and this is a common pitfall that many homeowners indeed, many contractors fail to take seriously enough.

A careful examination of the warranties offered by many building material manufacturers will turn up language that states, in one form or another, that the warranty applies only to structures on which the product has been installed, finished and maintained in accordance with the manufacturer’s specific instructions, and that deviation from those installation, finishing and maintenance instructions will render the warranty null and void.

Some of the things you need to be very aware of that can void a warranty include:

  • Inadequate protection during storage, which includes how the product is protected from ground moisture, dirt and dust, weather, impact, and other specifics.
  • Improper spacing. This would apply to products such as siding or shingles, where you have left gaps that are consistently too large or too small.
  • Improper fastening, which includes the gauge, length and style of the fasteners you use, the depth of their penetration into the wood, the spacing between the fasteners, and even the amount of air pressure used with air-driven fasteners.
  • Finishing. In the case of siding and some other materials, it must be finished (painted, stained or otherwise protected from the elements) within a certain time frame, using approved materials and approved application methods.
  • Maintenance. Many products also tell you what steps you need to take to maintain them properly, and failure to follow those steps can also void the warranty.

WHAT DO WARRANTIES COVER?

What a specific warranty covers varies from manufacturer to manufacturer, and can even vary within the product lines offered by the same manufacturer. Some of the more important things to be aware of are:

· What is the term of the warranty? Some warranties last only 30 or 60 days, while others are for the expected life of the product, which might be 50 years or more.

· Is there depreciation? Longer-term warranties, such as those on roofing, are typically depreciated based on the product’s expected life span. For example, if you have a composition shingle with a 30-year warranty and it fails after 15 years on the roof, it’s common that the replacement value will be depreciated by 50 percent.

· Does it cover labor? Many warranties will cover the cost of the product itself, but not the cost of the labor to remove and dispose of the failed material and install the replacement. Some will cover removal but not replacement, or vice versa.

· What steps are required? If that new faucet fails as soon as you install it, can you take it back to the store for an immediate replacement, or does the manufacturer insist that it be sent back to their facility for possible repair?

With any warranty, do your homework. Obtain and read a copy, and if you have questions about it you need to discuss it with your dealer or your contractor. If they are vague or unsure about answering your questions, ask for the phone number of the manufacturer, and call them directly.