Learn More - Schedule A No Obligation Strategy Call

We help you protect the equity in your home with smarter selling strategies

Most home sellers struggle with how to get the best price, in the least amount of time, with the fewest hassles to protect your family's equity. To solve this dilemma, your home is sold at a price acceptable to you, or we pay you the difference. You see, it's like having a sales price guarantee to protect your family and ensure you get the highest level of service and commitment.

Learn More - Schedule A No Obligation Strategy Call

Each month, we publish a series of articles of interest to homeowners -- money-saving tips, household safety checklists, home improvement advice, real estate insider secrets, etc. Whether you currently are in the market for a new home, or not, we hope that this information is of value to you. Please feel free to pass these articles on to your family and friends.

ISSUE #1246
FEATURE REPORT

Is the Water You Drink Safe?
North America has one of the safest water supplies in the world. However, national statistics don't tell you specifically about the quality and safety of the water coming out of your tap. That's because drinking water quality varies from place to place, depending on the condition of the source water from which it is drawn and the treatment it receives.
There is no such thing as naturally pure water. In nature, all water contains some impurities. However, it is crucial to know when and how the quality of the water can affect your health.
Using the new information that is now available about drinking water, citizens can both be aware of the challenges of keeping drinking water safe and take an active role in protecting drinking water.




Also This Month...

13 Extra Costs to be Aware of Before Buying a Home
Whether you're looking to buy your first home, or trading up to a larger one, there are many costs - on top of the purchase price - that you must figure into your calculation of affordability. These extra fees, such as taxes and other additional costs, could surprise you with an unwanted financial nightmare on closing day if you're not informed and prepared. Some of these costs are one-time fixed payments, while others represent an ongoing monthly or yearly commitment.



 
 

Tips on Selecting a Contractor For Home Improvement
Home repairs can cost thousands of dollars and are the subject of frequent complaints.  Here is a list of things to consider when selecting a contractor.



Quick Links
Is the Water You Drink Safe?
13 Extra Costs to be Aware of Before Buying a Home
Tips on Selecting a Contractor For Home Improvement
 

 

Top>>

Is the Water You Drink Safe?

North America has one of the safest water supplies in the world. However, national statistics don't tell you specifically about the quality and safety of the water coming out of your tap. That's because drinking water quality varies from place to place, depending on the condition of the source water from which it is drawn and the treatment it receives.

What contaminants may be found in drinking water?

There is no such thing as naturally pure water. In nature, all water contains some impurities. As water flows in streams, sits in lakes, and filters through layers of soil and rock in the ground, it dissolves or absorbs the substances that it touches. Some of these substances are harmless. In fact, some people prefer mineral water precisely because minerals give it an appealing taste. However, at certain levels minerals, just like man-made chemicals, are considered contaminants that can make water unpalatable or even unsafe. Some contaminants come from erosion of natural rock formations. Other contaminants are substances discharged from factories, applied to farmlands, or used by consumers in their homes and yards. Sources of contaminants might be in your neighborhood or might be many miles away. Your local water quality report tells which contaminants are in your drinking water, the levels at which they were found, and the actual or likely source of each contaminant. Some ground water systems have established wellhead protection programs to prevent substances from contaminating their wells. Similarly, some surface water systems protect the watershed around their reservoir to prevent contamination.

Where does drinking water come from?

A clean, constant supply of drinking water is essential to every community. People in large cities frequently drink water that comes from surface water sources, such as lakes, rivers, and reservoirs. Sometimes these sources are close to the community. Other times, drinking water suppliers get their water from sources many miles away. In either case, when you think about where your drinking water comes from, it's important to consider not just the part of the river or lake that you can see, but the entire watershed. The watershed is the land area over which water flows into the river, lake, or reservoir. In rural areas, people are more likely to drink ground water that was pumped from a well. These wells tap into aquifers--the natural reservoirs under the earth's surface--that may be only a few miles wide, or may span the borders of many regions. As with surface water, it is important to remember that activities many miles away from you may affect the quality of ground water.

How is drinking water treated?

When a water supplier takes untreated water from a river or reservoir, the water often contains dirt and tiny pieces of leaves and other organic matter, as well as trace amounts of certain contaminants. When it gets to the treatment plant, water suppliers often add chemicals called coagulants to the water. These act on the water as it flows very slowly through tanks so that the dirt and other contaminants form clumps that settle to the bottom. Usually, this water then flows through a filter for removal of the smallest contaminants like viruses and Giardia. Ground water is naturally filtered as it passes through layers of the earth into underground reservoirs known as aquifers. Water that suppliers pump from wells generally contains less organic material than surface water and may not need to go through any or all of the treatments described in the previous paragraph. The quality of the water will depend on local conditions. The most common drinking water treatment, considered by many to be one of the most important scientific advances of the 20th century, is disinfection. Most water suppliers add chlorine or another disinfectant to kill bacteria and other germs. Water suppliers use other treatments as needed, according to the quality of their source water. For example, systems whose water is contaminated with organic chemicals can treat their water with activated carbon, which absorbs or attracts the chemicals dissolved in the water.

What are the health effects of contaminants in drinking water?

The contaminants fall into two groups according to the health effects that they cause. Your water supplier will alert you through the media, mail, or other means if there is a potential acute or chronic health effect from compounds in the drinking water. You may want to contact the supplier for additional information specific to your area. Acute effects occur within hours or days of the time that a person consumes a contaminant. People can suffer acute health effects from almost any contaminant if they are exposed to extraordinarily high levels (as in the case of a spill). In drinking water, microbes, such as bacteria and viruses, are the contaminants with the greatest chance of reaching levels high enough to cause acute health effects. Most people's bodies can fight off these microbial contaminants the way they fight off germs, and these acute contaminants typically don't have permanent effects. Nonetheless, when high enough levels occur, they can make people ill, and can be dangerous or deadly for a person whose immune system is already weak due to HIV/AIDS, chemotherapy, steroid use, or another reason. Chronic effects occur after people consume a contaminant at levels over safety standards for many years. The drinking water contaminants that can have chronic effects are chemicals (such as disinfection by-products, solvents, and pesticides), radionuclides (such as radium), and minerals (such as arsenic). Examples of the chronic effects of drinking water contaminants are cancer, liver or kidney problems, or reproductive difficulties.

How can I help protect drinking water?

Using the new information that is now available about drinking water, citizens can both be aware of the challenges of keeping drinking water safe and take an active role in protecting drinking water. There are lots of ways that individuals can get involved. Some people will help clean up the watershed that is the source of their community's water. Other people might get involved in wellhead protection activities to prevent the contamination of the ground water source that provides water to their community. These people will be able to make use of the information that local authorities and water systems are gathering as they assess their sources of water.

Other people will want to attend public meetings to ensure that the community's need for safe drinking water is considered in making decisions about land use. And all consumers can do their part to conserve water and to dispose properly of household chemicals.

 

 

Top>>

13 Extra Costs to be Aware of Before Buying a Home


"The last thing you need are unbudgeted financial obligations cropping up hours before you take possession of your new home."


Whether you're looking to buy your first home, or trading up to a larger one, there are many costs - on top of the purchase price - that you must figure into your calculation of affordability. These extra fees, such as taxes and other additional costs, could surprise you with an unwanted financial nightmare on closing day if you're not informed and prepared.

Some of these costs are one-time fixed payments, while others represent an ongoing monthly or yearly commitment. Not all of these costs will apply in every situation, however it's better to know about them ahead of time so you can budget properly.

Remember, buying a home is a major milestone. Whether it's your first, second or tenth home, there are many important details to address, during the process. The last thing you need are unbudgeted financial obligations cropping up hours before you take possession of your new home.

Read through the following checklist to make sure you're budgeting properly for your next move.

1. Appraisal Fee

Your lending institution may request an appraisal of the property which would be your responsibility to pay for. Appraisals can vary in price from approximately $175 -$ 300.

2. Property Taxes

Depending on your down payment, your lending institution may decide to include your property taxes in your monthly mortgage payments. If your property taxes are not added to your monthly payments, your lending institution may require annual proof that your taxes have been paid.

3. Survey Fee

When the home you purchase is a resale (vs. a new home), your lending institution may ask for an updated property survey. The cost for this survey can vary between $700- $1,000.

4. Property Insurance

Home insurance covers the replacement value of your home (structure and contents). Your lending institution will request proof that you are insured as it protects their investment on the loan.

5. Service Charges

Any new utility that services your hook up, such as telephone or cable, may require an installation fee.

6. Legal Fees

Even the simplest of home purchases should have a lawyer involved to review all paperwork. Shop around, as rates vary greatly depending on the complexity of the issues and the experience of the lawyer.

7. Mortgage Loan Insurance Fee

Depending upon the equity in your home, some mortgages require mortgage loan insurance. This type of insurance will cost you between 0.5% -3.5% of the total amount of the mortgage. Usually payments are made monthly in addition to your mortgage and tax payment.

8. Mortgage Brokers Fee

A mortgage broker is entitled to charge you a fee in order to source a lender and organize the financing. However, it pays to shop around because many mortgage brokers will provide their services free to you by having the lending institution absorb the cost.

9. Moving Costs

The cost for a professional mover can cost you in the range of:

  • $50-$100/hour for a van and 3 movers, and
  • 10-20% higher during peak demand seasons.
10. Maintenance Fees

Condos charge monthly fees for common area maintenance such as grounds keeping and carpet cleaning in hallways. Costs will vary depending on the building.

11. Water Quality and Quantity Certification

If the home you purchased is serviced by a well, you should consider having your water checked by your local experts. Depending upon where you live, determines whether or not a fee is charged, to certify the quantity and quality of the water.

12. Local Improvements

If the town you live in has made local improvements (such as the addition of sewers or sidewalks), this could impact a property's taxes by thousands of dollars.

13. Land Transfer Tax

This tax is applied whenever property changes hands and the amount that is applied can vary.


 

 

 

Top>>

Tips on Selecting a Contractor For Home Improvement

Home repairs can cost thousands of dollars and are the subject of frequent complaints.  Here is a list of things to consider when selecting a contractor:

  1. Get recommendations and references. Talk to friends, family and other people for whom the contractor has done similar work.
  2. Get at least three written estimates from contractors who have come to your home to evaluate what needs to be done. Be sure the estimates are based on the same work so that you can make meaningful comparisons.
  3. Make sure the contractor meets licensing and registration requirements with your local consumer agency. Some areas require licensees to pass tests for competency and scrutinize licensees for financial solvency. They may also have a fund to cover some financial losses that result from problems with licensed contractors.
  4. Check to see if local laws limit the amount by which the final bill can exceed the estimate, unless you have approved the increase.
  5. Check contractor complaint records with the Better Business Bureau or similar agency.
  6. Get the names of suppliers and ask if the contractor makes timely payments.
  7. Contact your local building inspection department to check for permit and inspection requirements. Be wary if the contractor asks you to get the permit. It could mean the firm is not licensed.
  8. Be sure your contractor has the required personal liability, property damage and worker's compensation insurance for his/her workers and subcontractors. Also check with your insurance company to find out if you are covered for any injury or damage that might occur.
  9. Insist on a complete written contract. Know exactly what work will be done, the quality of materials that will be used, warranties, timetables, the names of any subcontractors, the total price of the job, and the schedule of payments.
  10. Try to limit your down payment. Local law may specify that only a certain percentage of the total cost may be made as a down payment.
  11. Understand your payment options. Compare the cost of getting your own loan versus contractor financing.
  12. Don't make final payment or sign an affidavit of final release until you are satisfied with the work and know that subcontractors and suppliers have been paid. Local lien laws may allow unpaid subcontractors and/or unpaid suppliers to attach your home.
  13. Pay by credit card when you can. This may allow you the right to withhold payment to the credit card company until problems are corrected.
  14. Be especially cautious if the contractor:
  • comes door-to-door or seeks you out;
  • just happens to have material left over from a recent job;
  • tells you your job will be a "demonstration";
  • offers you discounts for finding other customers;
  • quotes a price that's out of line with other estimates;
  • pressures you for an immediate decision;
  • offers exceptionally long guarantees;
  • can only be reached by leaving messages with an answering service;
  • drives an unmarked van or has out-of-area plates on his/her vehicles; or
  • asks you to pay for the entire job up front.

 

 

Top>>