Monthly Archive for December, 2010
Mt. Sunapee got bombed Sunday night and Monday with 18” of very dry powder snow. They have more than 50 trails with a substantial machine made base and trail numbers for the holiday week should be in the mid-50’s every day. All 11 lifts are scheduled to operate daily through Sunday, January 2. The day’s snow and lift report is posted on their web site by 7:00am daily. Check for updates. All three terrain parks are open including the Bob Skinner’s 603 Terrain Park, the beginner park on Calypso with a mini half pipe and the slope-style course on Eastside. They have seeded the mogul fields on Upper Flying Goose and Lift Line. Come ski over the holidays.
Starting Sunday, January 2, 2011 the popular Family Values on-line promotion begins. For each full-price adult ticket purchased, one junior or young adult ages 6 through 18 skis or rides for FREE. Family Values is offered Sunday through Friday excluding holidays (Jan. 15-17) through January 31, 2011. Each adult must print an on-line coupon and present it to the ticket window. Limit one free child per adult. Check the online coupon page for details.
The month of November saw home sales resuming a growth trend since bottoming in July, according to the National Association of REALTORS®. Existing-home sales rose 5.6%, to a seasonally adjusted annual rate of 4.68 million in November from 4.43 million in October.
Lawrence Yun, NAR chief economist, is hopeful for 2011. “Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable,” he said.
Yun added that home buyers are responding to improved affordability conditions. “The relationship recently between mortgage interest rates, home prices and family income has been the most favorable on record for buying a home since we started measuring in 1970,” he said. “Therefore, the market is recovering and we should trend up to a healthy, sustainable level in 2011.”
The national median existing-home price for all housing types was $170,600 in November, up 0.4% from November 2009. Total housing inventory at the end of November fell 4.0% to 3.71 million existing homes available for sale, which represents a 9.5-month supply at the current sales pace, down from a 10.5-month supply in October.
NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I., said good buying opportunities will continue. “Traditionally there are far fewer buyers competing for properties at this time of the year, so serious buyers have a lot of opportunities during the winter months,” he said. “Buyers will enjoy favorable affordability conditions into the new year, although mortgage rates are expected to gradually rise as 2011 progresses.”
“In the short term, mortgage interest rates should hover just above recent record lows, while home prices have generally stabilized following declines from 2007 through 2009,” Yun said. “Although mortgage interest rates have ticked up in recent weeks, overall conditions remain extremely favorable for buyers who can obtain credit.”
Regionally, existing-home sales in the Northeast rose 2.7% to an annual pace of 770,000 in November but are 33.0% below the cyclical peak in November 2009 (this peak was caused by buyers trying to beat the deadline for the federal buyer credits). The median price in the Northeast was $242,500, which is 9.2% higher than a year ago.
This article is based on one which appeared in RISMEDIA, December 23, 2010; the data source is the National Association of Realtors. For more information, visit www.realtor.org.
Heating water can account for up to 25% of your household energy costs, but there are some inexpensive things you can do to help increase efficiency and your bills. 
Wrap your heater in a blanket
Your water heater needs help to stay warm, especially if it’s in an unheated space. A fiberglass insulating blanket can cut heat loss by 25% to 40% and save 4% to 9% on an average water-heating bill. Insulating blankets are cheap, usually less than $30 at the home center, and it’s easy to install one yourself. Follow the included directions, and take care not to block the thermostat on an electric water heater or the air inlet, exhaust, or top of the tank on a gas unit.
Note: If your water heater is fairly new, check the manufacturer’s recommendations first. Many newer units already have insulating foam built in; on these models, an after-market jacket could block a critical component.
Install low-flow fixtures
One of the surest ways to cut hot water costs is to use less of it. By installing low-flow showerheads and faucet aerators, which cost as little as $10 to $20 each, you can cut hot water consumption by 25% to 60%.
Turn down the temperature
Many water heaters come from the factory with the temperature set needlessly high. For every 10 degrees you turn it down, you’ll save another 3% to 5% on your bill.
If the thermostat on your water heater doesn’t have a numbered gauge, put it midway between the “low” and “medium” marks. Wait a day, then measure the temperature at the tap with a standard cooking thermometer. Keep adjusting this way until you hit your target temperature.
Drain the sediment
Tanks naturally build up sediment, which reduces the unit’s efficiency and makes it more expensive to operate Draining the tank is relatively easy. Turn off the water and power to the unit (set the burner on a gas unit to “pilot”). Then connect a garden hose to the spigot at the base of the tank. With the other end of the hose at a lower spot outside the house where discharging hot water poses no danger, carefully lift the pressure-relief valve at the top of the tank and turn on the spigot; water should begin to flow. While most manufacturers recommend draining the tank once or twice a year, you don’t have to drain it completely; in fact, the Department of Energy (http://www.energy.gov) recommends draining less water more often-just a quart every three months.
Insulate exposed hot-water pipes
Wrapping hot-water pipes with insulation reduces standby losses. Water arrives at the tap 2 to 4 degrees warmer, which means you won’t have to stand around as long waiting for it to heat up, thus saving water, energy, and money. While this isn’t an expensive job to do yourself-six-foot-long, self-sealing sleeves easily slip over pipes and cost about $2.50 each-it could take some effort, depending on where your hot water pipes are. Exposed pipes in the basement are an easy target, but if pipes are in a hard-to-reach crawl space or inside walls, it might not be worth the trouble.
Based on an article by Joe Bousquin, from HouseLogic.com originally published: August 28, 2009. Visit HouseLogic.com for many more helpful articles.
10 Ways to Prevent and Stop Roof Leaks
Today’s issue posted by RISMEDIA featured an article posted by the Vice President of Pillar to Post Home Inspections. Here are the highlights:
Stopping potential leaking problems at the source can help prolong the life of your roof and keep repair costs at a minimum. If you’re not handy, call on a professional to inspect the situation and advise if repairs are needed. Being proactive in this way will save money in the long run.
1. Incorrect shingle installation. Improper joint locations and a lack of underlay are two issues that are particularly hard to see, but can be extremely problematic.
2. Structural sagging. A sagging roof structure is often the result of moisture retention, and nearly always foreshadows, or coincides with, a leak issue.
3. Water “ponding.” Clogged roof drains and indented areas on flat roofs can cause water pooling—which is basically a leak waiting to happen.
4. Damaged nails. Even on shingles that have been expertly installed, nails are the first thing to show wear. Corroding nails leave microscopic holes that invite water in.
5. Improperly hung gutters. Gutter placement is critical, and if you’re in an area with strong wind, just a tiny shift can tamper with the gutter system and divert rain—meant for the gutter—onto the roof.
6. Moss. You might think it’s just an aesthetic problem, but as moss gathers, it retains more and more moisture that you might not be able to see—until it starts dripping into the attic.
7. Insufficient insulation. The roof might look great on the outside, but if it’s not properly insulated underneath, you’re in trouble. Pre-1980s homes, in particular, may not have an adequate vapor barrier; if they don’t, a replacement is warranted—surface patching and minor repairs will just amount to wasted money.
8. A deteriorating chimney. Whether it’s cracks, eroded joints or a decaying cap, the chimney has plenty of inroads for moisture and water. Don’t discount the chimney; sometimes it might need all the repairs, when the roof might be just fine.
9. Evidence of badly-done past repairs. From improper plastering to inadequately plugged-up holes, any past repairs that look like they’re DIY are probably not up to code, and are just a stopgap measure. Don’t look to them to provide any leak protection in the future. Have a professional inspector evaluate these half-hearted fixes, and suggest ways to re-do them properly, to prolong the roof’s life.
10. Don’t forget the attic. Leaks into the attic aren’t just a problem; but so are leaks originating in the attic. One of the most important precautions: Don’t terminate any vent or exhaust pipes in the attic.
December 14, 2010. RisMedia. The author of the original article is Charles Furlough is Vice President, Pillar to Post Professional Home Inspections.
For more information, visit www.pillartopost.com.
Wooden toy soldiers have assembled and come to celebrate the holidays this year in New London! Area businesses purchased the templates and creative residents and artists dressed them up! Have fun strolling around the town to see Elvis and the pizza man; the fireman and construction worker. Our two handsome soldiers were hand painted by our sales associate, Sara Ellis.
Enjoy the Holidays!
Gimme a break! Act Fast and You Can Get a Tax Break Just For Cutting Energy Costs!
Want to cut your taxes, save money and help the environment? By making an energy-saving improvement to your home, the IRS may allow you to take a tax credit for it. But you have to act fast—some of those credits are expiring in just a few weeks on December 31.
Homeowners can get a tax credit for installing certain wood or pellet stoves; energy-efficient furnaces, water heaters and air-conditioning systems; insulated roofs, windows and doors; and wall and ceiling insulation. The tax credit covers 30 percent of the purchase costs, up to $1,500. Installation costs for heating and air-conditioning systems, water heaters and biomass stoves are also covered. However, installation costs for new windows, doors, roofs and insulation are not included in the tax credit.
With the deadline quickly approaching for making these tax credit-qualifying improvements, some may wonder if it’s all worth the effort. The answer is, YES! The project with the greatest “bang for the buck” is upgrading your heating and cooling systems, which can be as much as 50 percent of the average home’s energy bill. Not only will you qualify for a larger tax credit, you will have a new, efficient and less costly heating system as we head into winter. If your furnace or boiler is more than 10 years old, this may be the ideal time to replace it.
Energy efficient improvements do not have to be costly to be eligible. Adding insulation just to the area where your family spends most of its waking hours, for instance, is a relatively low cost way to improve your home, save on heating, and make your family much more comfortable. Also, insulation is often a do-it-yourself project, so you save on labor costs.
Energy efficient appliances do not qualify for tax credits, but appliances carrying the Energy Star seal will help reduce your energy bill. Check the Energy Star website at www.energystar.gov for a list of appliances carrying the Energy Star label. Also, many states and local utilities are offering direct rebates—no need to wait for tax returns—on some appliances. Check www.energysavers.gov or www.nhsaves.com to see details of programs in New Hampshire.
A few other details to keep in mind: All improvements must be in place and equipment in service by December 31 to qualify for the tax credits. Be sure to keep your receipts and the manufacturer’s certificate that states the equipment or service is eligible under the program. If not available with the product, the certificates can also be found on the websites of the manufacturers.
Lastly, there are several valuable resources on the Web and in your area. In addition to listing efficient appliances, the Energy Star website gives guidelines on what qualifies for the tax credit at www.energystar.gov/taxcredits.
For a list of state and local energy efficiency assistance available, see the Database for State Incentives for Renewables and Efficiency, a project funded by the US Department of Energy, at www.dsireusa.org . Check out the free “Button Up, New Hampshire” workshops being held this winter around the state on the basics of home energy budgets and the value of home weatherization; see http://m1e.net/c?82384231-gPvlWx.Rup3kU%405979590-OM5F9JzgYh6YM for details.
So act now before the clock runs out on the energy efficiency tax credit on December 31.
This message comes from the New Hampshire Department of Environmental Services, 29 Hazen Drive, Concord, NH 03302, (603) 271-3710
Have a Contract? It’s Still not Time for the Bubbly!
Getting a house under contract can sometimes be challenging enough. However, it’s still not time to break out the champagne once it happens. According to a survey by the Nat’l Assoc. of Realtors, about 14% of pending sales don’t close and another 20% are delayed but eventually close. Most of the issues can be attributed to financing or home inspections.
So what can you do? Be mentally prepared that there most likely will be hurdles to overcome and the closing date may not be concrete. Have a home inspection prior to putting your house on the market and make needed repairs so you can avoid post-contract negotiations or worse, giving the buyers reason to walk from the contract. Be aware that tighter lending regulations can slow the process – anything from the house not appraising to last minute negotiations that create a 3-day delay due to new lending rules. It’s a complex process and that’s why you need a knowledgeable Realtor to help navigate your way to a successful closing. Give me a call and put my 15 years of experience to work for you. 603-526-4116
Donna Forest, ABR
