1. Make sure that your home is insured for at least 100% of its estimated replacement cost
2. Understand the difference between market value and replacement cost for insurance purposes
3. When buying a new home, be sure to obtain a replacement cost estimate.

Home Improvement Section

Wood framing is yesterdays’s building method. Today, concrete is sustainable and today concrete is king.

“In both residential and commercial buildings, structures built with concrete to the roof offer long lasting benefits to home owners and owners of commercial structures,” says Todd Blyth at Nudura. “Once these comforts are experienced, the homeowners and commercial building owners would never go back to wood or other traditional building methods.”

Nudura, a company known for an ingenious, interlocking concrete-form building system, has recently won four, prestigious ICF Builder Awards, most notably for a LEED rated project. Leadership in Energy and Environmental Design administers a third-party certification program, which has not set an international benchmark for the construction and operation of sustainable, high performance buildings. Nudura builds the walls to the roof with a method that entails interlocking forms with two layers of polystyrene, steal reinforced, and filled with concrete. Here’s why concrete so readily trumps wood:

Conservation: The more trees covering the planet the better for oxygen supply and greenhouse gas reduction. Instead of using wood for construction, concrete will save this important natural resource.

Cost Cutting: The energy savings with concrete walls range from up to 50-70 percent. Solid core, concrete keeps home temperatures consistent requiring less energy for heat, cooling, and climate control. Wood structures are prone to thermal bridging where the outside cold penetrates too easily, causing drafts and cold spots.

Fire Resistant: In addition to long-term durability, and wind resistance, concrete walls report 4-hour fire protection.

Durability: Solid concrete core walls are shown to be up to nine times stronger, withstanding winds up to 400 km/hr and a debris impact up to 185 km/hr. Wood walls are subject to moisture, dry rot, and deterioration.

Indoor Air Quality: Wood structures are also prone to moisture retention, promoting mold growth with airborne respiratory irritants. The newest concrete system (nudura.com) is quick to assemble for builders, brings beauty to the design, emits no fumes, retains no water, and is virtually sound proof.

1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

2. Develop your home wish list. Then, prioritize the features on your list.

3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.

4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment?  Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.

5. Get your credit in order. Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.

6. Determine your mortgage qualifications. How large of mortgage do you qualify for? Also, explore different loan options — such as 30-year or 15-year fixed mortgages or ARMs — and decide what’s best for you.

7. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.

8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without paying a penalty for early withdrawal.

9. Calculate the costs of home ownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.

10. Contact a REALTOR®. Find an experienced REALTOR® who can help guide you through the process.

Learn more about buying a Bergen County home at PaulaClarkRealtor.com.

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HGTVPro.com

There many never be a better time to get into green building than right now, particularly as a way to hedge your business against the slowing housing market.

“There is no slow down for my company,” says Matt Belcher of Belcher Homes in St. Louis. “Last year we did 15 green homes, and this next year we’ll do 25. I don’t build anything but green homes.”

Belcher says that a confluence of green products, how-to-build-green information, and customers easily sold on the concept have greatly reduced the obstacles builders used to face in getting started. By using the resources now readily available from nation and local home builders associations and other organizations, any builder can establish an individual plan to go green and execute it.

Emily English, director of the National Association of Home Builders’ Green Building Program, says the NAHB’s green Green Building Guidelines publication lays it all out in phased steps.

Step-By-Step Break Down

“There is a learning curve to switching to green practices,” says Emily. “So we have different thresholds of building green, starting with bronze, then silver and gold. The first part of the Guidelines is a checklist for what level of green you are building to. The second part of the Guidelines is how to do it, and a source of resources.”

The process of going green is broken into seven guiding principles (Resource Efficiency, Lot Design, Preparation, and Development, etc.) which each specific element in a principle section given a numerical value. By adopting elements from each of the seven sections into your building program, you move into green building step by step.

“Its easier to go green this year than it was last year,” says Belcher, who will chair the NAHB Green Building Conference March 25-27, 2007 in St. Louis. “There is so much more information out there. Our local HBA of Greater St. Louis and Easter Missouri just adopted the NAHB’s Guidelines. We tweak them for our area, but there isn’t much tweaking needed.

“On the product side, all the manufactures of building components saw the writing on the wall, Belcher adds. “Green products are about all they’re pushing.”

Selling the Green Bling

Belcher said the two largest potential stumbling blocks to going green have been selling the green concept to dubious customers and turning concepts into practice on the job site. Although these are the most crucial aspects a builder needs to get right when switching over to green practices, Belcher doesn’t view them as obstacles any longer.

“I sell the customers with what I call ‘green bling.’ I tell them about things like photovoltaic, structural insulated panels, and the fact that lenders are raising the value of green homes by as much as 18%,” says Belcher. “And when I tell them we are going to build a 3,500 square-foot home and their electric bill won’t be more than $125 a month, it gets them going pretty quick.”

English and Belcher offer a couple of tips for builders to keep in mind as they go green:

• Getting the trades on board was more of an issue in the past than it is today, as the green trend generates infomation, products, workshops and buzz. Still, English says, builders switching to green should plan on spending extra time training the trades and supervising crews on site.

• Belcher advises builders to tell their trade contractors from the very start exactly what they are doing -and why. “These guys pride themselves on being craftsmen, and they appreciate being involved in these advanced building techniques.”

“I can say that using the Green Building Guidelines has improved my bottom line dramatically. I am not wasting a thing,” says Belcher. “After my first few green houses, I was thinking. ‘Why haven’t I been doing this all along?’”

Real Estate & Business Section

In today’s housing market, home owners need to be more proactive than ever before when it comes to selling their homes.

Whereas the real estate boom at the turn of the century made things easy on sellers, the current real estate climate is not so seller-friendly.

To make their homes more attractive to prospective buyers, these are small and easy projects, but if neglected, they’ll give buyers the impression that other, bigger things might have been neglected as well.

If your home has a front porch or stoop, be sure to inspect it for cracks. An older porch or stoop should be replaced, and any chips or cracks in the steps should be fixed.

• Ready the roof. A new roof is very expensive, and buyers understandably often run from homes that need a new roof.

Sellers should hire their own home inspector to determine the condition of the roof before putting the home up for sale, it will likely take more time to sell the home, and buyers will wonder why the home was listed for so long.

Know the home’s ups and downs before putting it up for sale to minimize any potential concerns from buyers.

• Perfect the paint job.  For homes without siding, be sure that the paint job is up to snuff. Any areas with peeling or chipping paint should receive a fresh coat of paint, and this is another job that should be handled will before listing the home.

• Lavish the lawn with attencion. Buyers love a lush green lawn, and that lawn goes a long way to creating a solid first impression. The first thing buyers will see once they pull up curbside is the lawn. If the grass is dry with brown spots or appears neglected, many buyers will find that hard to over look.

Homeowners preparing to sell their home in the fall should lavish attention on their lawn throughout the summer, keeping it watered and possibly hiring a landscaping service to make it more appealing. Consider planting flowers or other decorative foliage.

Not only does owning a Bergen County home help people build long-term wealth, but also it provides shelter and security for their families and fosters involvement in community life. In essence, homeownership is the cornerstone of a healthy community.  

U.S. Census Bureau data shows that Bergen County home owners move less frequently than renters. This stability is important in creating strong foundations for both families and communities.

A recent NAR research study shows that Bergen County home owners are more likely to vote, volunteer time for civic events or participate in local crime prevention programs because they’re invested in what happens in their neighborhoods.

If you are considering buying a Bergen County home to build your nest, visit PaulaClarkRealtor.com or give me a call. I’m glad to guide you through the process.

Search all Bergen County homes for sale.

Other handy tools and information available on my website are local Maps and Links, Community Info for Hillsdale, Old Tappan, and Rivervale, Things To Do, School info and more!

You can also get pre-qualified for a mortgage, get a FREE relocation package, and search all Bergen County homes for sale.

Please visit PaulaClarkRealtor.com oftern for all your Bergen County home buying information. And when you are ready, give me a call. I’m here to help!!

1. Research before you look.
Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.

2. Be realistic.
It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.

3. Get your finances in order.
Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford.

4. Don’t ask too many people for opinions.
It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.

5. Decide your moving timeline.
When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.

6. Think long term.
Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that will best suit you.

7. Insist on a home inspection.
If possible, get a warranty from the seller to cover defects for one year.

8. Get help from a REALTOR®.
Hire a real estate professional who specializes in buyer representation. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. Buyer’s reps are usually paid out of the seller’s commission payment. Give me a call…it won’t cost you a penny!!

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Now the market has shifted. The strong sellers’ market is a thing of the past and it is the sellers who are jumping through hoops. Buyers are calling the shots with offers that include home inspections; requests that closing costs, homeowner association fees and inspection fees be paid by the seller; decorating allowances; home improvement; and prices far below the asking price.

So why are buyers hesitating? Fear of a tanking economy, falling home prices and job instability are concerns for many potential home buyers. But if you are financially stable and plan to stay in a home for at least five years, there are 5 top reasons to buy a Bergen County home:

1. Homes are affordable.
According to the National Association of Realtors’ housing affordability index, homes were more affordable in December than at any other point since the group started the index in 1970. The affordability index is a measure of the relationship between home prices, mortgage interest rates and family income.

A recent report from Moody’s Economy.com predicted that house prices will stabilize by the end of this year. The Office of Federal Housing Enterprise Oversight’s Web site has a house price calculator that can help. Visit the calculator.

2. There are lots of homes to choose from.
The slow down in the housing market has caused homes to stay on the market longer, creating a huge inventory. There was a 9.6-month supply of unsold existing homes in January given that month’s sales pace, according to NAR.

A large inventory gives buyers more selection, driving down prices. As buyers start to jump back into the market, the inventory will shrink and cause prices to start going back up. The time to get the best deal is before most buyers buy.

3. Builders are offering perks.
New home builders are offering price reductions, free upgrades and other perks such as free appliances, homeowners’ fees being paid, lower interest rates decorating allowances. Once their inventory shrinks, these perks will go away.

4. Interest rates are at historical lows.
Lenders are not lending as freely, but if you have good credit and the needed down payment, mortgage interest rates are historically low and hovering around 5 percent.

5. There is an $8000 tax credit
If you are a first-time Bergen County home buyer, you will qualify for an $8000 federal tax credit if you buy before December 1, 2009. Unlike the previous tax credit offered in 2008, this does not have to be repaid. Extra money comes in handy when buying a home.

Trying to decide if buying a Bergen County home in is right for you. Give me a call. I’m glad to review your situation with you.

Search all Bergen County homes for sale.