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Written by John Simek, Cook and Zook Team
Tuesday, 20 July 2010
Chinese Drywall can cause many problems for homeowners and should be getting your immediate attention! Not sure what Chinese Drywall is? Chinese Drywall refers to defective or tainted drywall imported from China from 2001 to 2007 which emits sulfur gasses which usually create a noxious odor and corrode copper and other metal surfaces, thereby damaging your air conditioner, electrical wiring, copper plumbing, appliances and electronics. Unfortunately, this material was used in construction practices between 2001 and 2008. Some homes built as early as 1997 have used Chinese Drywall as part of their construction. Virginia, in particular, has used this material in many of their new home constructions during this time period, which makes it essential to make sure your protected! You're probably curious of the signs of Chinese Drywall... Does your home smell like rotten eggs or ammonia (sometimes a sweetish smell)? Is it more noticeable when entering your home and then seems to dissipate? The level of odor varies greatly in each home as does each person’s ability to detect the odor. One of the telltale signs is corrosion/pitting of the air conditioner evaporator coils (which are located inside the air handler). Many owners are first advised of a freon leak, and as the corrosion progresses, evaporator coils eventually need replacement. An examination of the coils typically (but not always) reveal a black sooty deposit, which may also appear on the freon line. Chinese drywall also corrodes electrical wiring. (Taken from: http://www.chinesedrywall.com/) A couple signs that point to this material being used in your home are: -Severe Headaches -Upper respiratory illness (cough, congestion, and asthma) -Insomnia -Itchiness and rash -Burning Eyes -Rotten Egg Smell, to name a few. It is vital to be aware of these issues. If you would like more information about treatment, facts, etc. Please refer to the following links below: Best Way To Identify Chinese Drywall ChineseDrywall.com Northern Virginia Drywall Inspectors

Easy Fixes for 4 Household Problems

Written by John Simek, Cook and Zook Team Marketing Manager
Wednesday, 30 June 2010
Problems like squeaky stairs and oil stains on the garage floor can be quick turnoffs to buyers. But these common household troubles need not hold your listing back—particularly if they’re relatively easy for a do-it-yourselfer to fix. While it’s always best to bring in an expert to correct big problems, here are some tips for capable home owners who want to try their own hand at a solution. Problem: Oil Stains on Garage Floor First, remove the surface oil by sprinkling some cat litter on it to soak it up. Then clear away the cat litter and focus on the stain. Make a paste of hot water and dry dish or laundry detergent. Use a stiff bristle scrub brush to scrub the area with the paste. Hose the area and let it dry. Another method is to use a product such as Spray ’n Wash on the stain for 10 minutes, along with a dry detergent. Your last option is to spray on some oven cleaner. Use this sparingly, wash it down thoroughly, and keep children and pets away from it. Problem: Leaky Faucets Most faucet leaks can easily be fixed with a rubber washer, an O-ring, or seals—depending on what type of faucet it is. By fixing the problem yourself, you can save a good bit of money since plumbers can be expensive and will charge you a standard fee even if it takes only 10 minutes to fix the problem. Problem: Nail Pops Nail pops are a problem across the country. The term comes from the nails that hold the drywall to the studs actually popping out through the face of the drywall. This is from either a house settling or the wood studs drying out over time, squeezing the nail out of the wood and pushing it through the drywall. The fix for this isn’t terribly hard, but it’s tedious because there are up to 32 nails in a 4-foot by 8-foot sheet of drywall. My suggestion is to pound the nail through the drywall to the stud. Then, just above it, place a drywall screw to hold the drywall to the stud, and finish it off with a few coats of spackle or joint compound. Finally, seal and paint it. Most home-improvement stores also sell nail pop kits that can make this job easier. Problem: Squeaky Stairs The most common problems that occur in a staircase are the treads (horizontal surface of the steps) coming loose, which causes squeaking. Also common are the spindles or balusters coming loose. If you can get underneath the staircase, fixing the treads is easy. You will need to attach an L bracket from the underside of the tread to the stringer (the long piece of wood that connects the treads and runs diagonally up the wall). If you can’t get underneath the staircase, you’ll have to make the repair from above. Squeaky stair kits are available that allow you to make this fix even through carpet. Otherwise, you can secure the tread to the stringer with a trim screw. (Taken directly from realtor.org: http://www.realtor.org/rmohome_and_design/Articles/2010/1005_home_easyfixes)

Getting Perspective

Written by Jeff Detwiler, President of Long and Foster

Friday, 25 June 2010

Take housing data in context to get the full picture

The news headlines of the last 48 hours are enough to get any consumer rattled. Media outlets across the country are shouting far and wide about a “double dip housing recession” and housing sales that have “plunged 33 percent.”

I think it’s important to put these numbers in context, and help our customers understand that national media headlines are not always reflective of the entire picture of our real estate markets.

Let’s break down a couple of this week’s rather dramatic headlines.

New home sales plummet to record low (CNNMoney.com)

The U.S. Commerce Department reported Wednesday that new home sales declined almost 33 percent from April levels, to a seasonally adjusted rate of 300,000 sold units. Year-over-year, this number represents an 18.3 percent decline in sales.

Here’s what you need to know and communicate to your customers:

This sales report is for new construction homes, not existing homes that have resold. The headline says “new home sales,” for sure, but the media does little to clarify that this report is for new construction sales only.
Further, new construction sales made up only 5 percent of all home sales in May. The vast majority of the market was existing home sales.
Due to the seasonality of home sales, month to month increases or declines are far less pertinent than year-over-year changes.

Housing sales decrease in May, dashing hopes of quick recovery (The Washington Post)

The Washington Post may be located in Long & Foster’s territory, but it’s not necessarily a local publication. This article, and many like it, reported existing home sales figures released this week by the National Association of Realtors. These numbers are reported on a national level.

NAR reported that sales of existing single-family homes, townhouses and condos fell 2.2 percent from April to a seasonally adjusted rate of 5.66 million units in May. On the heels of big sales gains the previous two months, the media positions this number as representing a housing market that lost momentum toward the end of the tax incentive period.

Here’s what you need to know and communicate to your customers:

Sales vary greatly by region—even by county. With the market recovering at different rates—even within the Long & Foster footprint—consumers will increasingly rely on their Long & Foster sales associate to communicate the dynamics of their local market. This is why we launched The Long & Foster Market Minute for more than 100 metro areas we serve. This data is not only local, it’s updated monthly. Share it with your customers to give them the real existing homes sales picture for their region.
Looking at existing home sales in a broader context, year-to-date sales as of May climbed at least 10 percent (tracking right alongside Long & Foster’s sales, as I reported in my last WIN). Further, compared to May of last year, May’s sales were up 19.2 percent. There are definitely some bright spots in these numbers that don’t tend to make the headlines or initial paragraphs of most news reports.
As we expected, the market did see a decline in written contracts in May following the wrap-up of the tax credit period. Much of May's decrease was due to the pull-forward phenomenon we experienced in April.

Behind the headlines

The news agencies and media are reporting:

Big decreases in home sales
Housing stats paint a deteriorating housing recovery
The housing market is "double dipping"

The facts are:

New home sales (only 5 percent of the market) are down, but existing home sales (95 percent of the market) are up.
Written contracts were down in May, but we projected this with the pull-forward phenomenon caused by the tax credits.
We expect June numbers to get back on track as the market works through the ripple effects of the tax credit.

Keep yourself informed of the real story behind housing data. If you’re informed, you’ll be better equipped to educate your buyers and sellers about what’s really happening in their markets.

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A Deck Investment

Written by Brian Cook, Cook and Zook Team
Friday, 11 June 2010
Adding a wood deck is the upgrade that brings homeowners the best return on their investment. Nationwide, homeowners recoup on average 81 percent of the cost of adding a wood deck to their home, but that number drops to 71 percent when they go with a composite deck, according to the 2009-2010 REALTOR® Magazine/Remodeling Magazine annual Cost vs. Value survey. That’s just the beginning of what homeowners need to know about decks. Their return on investment varies depending on where they live, and upgrades like planters and shade sails can also make their deck—and home—more valuable. Here are a few things to consider before building a deck: 1. Know your deck options. Not too long ago, redwood and cedar were just about the only options. Synthetics, such as composite (trex) and PVC decking, and tropical hardwoods, such as ipe and mahogany, offer ease of maintenance and longevity that put the traditional favorites in the shade. 2. Understand pricing and maintenance. New decking materials are pricier initially, but don’t have the annual maintenance costs of softwood decks. In some cases, the overall cost (initial costs plus annual maintenance) of a wood deck can exceed those of a composite or PVC deck after only a few years. For example, the cost of cedar decking is approximately $1,700 for a 16x20-foot deck. The same deck covered with composite decking would cost $3,200—a hefty $1,500 more. However, to keep the cedar looking good, it should be cleaned and resealed every year, at a cost of $90 to $100 if you do the job yourself. ** This article was taken from www.realtor.org

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