There is a new housing product that is targeted towards buyers called empty nesters, baby boomers, 55+, mature Americans, or as you may call them Mom and Dad. We have all known that the Triangle has been a favorite of the AARP constituent as a retirement location but our market has not catered to this buyer until now. Finally new communities are underway that are specially designed for the 55+ buyer. Buyers Advantage Group Realty has been voicing a need for this type of housing product and our voices have been heard!

   Currently there are six new communities around the Triangle exclusively for the 55+ buyer. What is a 55+ community you ask? They are neighborhoods designed to the needs and desires of the 55+ buyer and you must be 55 or older to live in the communities usually. The floor plans are created for the down sizing buyer but the amenities are anything but down sized. Usually there is a community club or center that has planned activities within and outside the neighborhood. Combine the specially designed communities with our terrific weather, the wonderful cultural centers of downtown Raleigh, Durham, and Chapel Hill, and all the college and university activities and events and you get the perfect mix for retirement life. Buyers Advantage Group Realty has agents specially trained to meet the needs of the 55+ buyer. They carry the designation of Senior Real Estate Specialist and offer experience in handling the lifestyle issues of transitioning seniors. These specially trained agents can help with financial and legal planning that go along with the decision to move and start the next phase of their lives. If you are 55+ and are considering a move please contact us for valuable information on the best places to look and how to protect your rights as a senior buyer.

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Buyers are becoming Dual Owners. As home values continue to rise and interst rates remain low, more home buyers are choosing to keep their first home while purchasing their second home. The proactice has been occurring for the last few years for three reasons: real estate markets are doing so well it is considered a “safe” investement; lenders have programs tailored to second home purchases that do not penalize the buyer as they have in the past; and rental prices for homes are not keeping pace with home prices so renting is an attractive option for many people increasing the likelihood that dual home buyers will find tenants for their rental properties.Â

    But “leveraging up” has its risks that must be measured carefully before entering into this situation. Before piling on debt, a buyer needs to understand which loan program works best, how to use the equity in their current home, and the costs of maintaining and managing two properties. Please call or email us if you would like to evaluate whether being a Dual Owner is right for you. We want success stories for all of our buyers!

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During summer’s hotter than usual tempatures, your air conditioning can work overtime. To reduce some of the stress to your system, make sure you change your filters regularly. Below are some other tips for staying cool for the summer:

• If your AC stops working, check the pan under your air exchanger to see if the pan is filled with water. The unit shuts off automatically to prevent overflow. Remove the water from the pan and your AC will start again. Call a repairman (or use your home warranty, if you have one) to check for a blockage in your condensate line to eliminate water collecting in the pan.
• Pull drapes and shades over windows facing the sun.
• Keep windows and doors to unconditioned spaces closed.
• Use a programmable thermostat to automatically adjust temperatures for daytime and nighttime.
• Set thermostat at the highest comfortable seeting.
• Keep the outside unit free of leaves and other airflow obstructions.
• Have your HVAC checked by a professional twice a year.

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We have all heard the reports that heating costs for residents in our area will be high this season so we at Buyers Advantage Group Realty (BAGR) have put together some tips for saving money during the colder months.

• Caulk, Caulk, Caulk - Walk around the interior of your home and find the cold spots around your doors and windows. Caulk those areas very well from the outside. Do not forget under sinks and utility rooms.
• Make sure the weather stripping around doors and windows is intact and creating a sufficient seal. Don’t forget about the adjustable thresholds on your doors. They’re spring loaded to move up & down for a tight seal.
• Set your thermostat to a comfortable level between 68 and 72 degrees and leave it alone. Changes in tempature of more than 2 degrees at a time cost big bucks.
• Turn down your water heater just below 120 degrees and insulate the first five feet of pipe coming out of the top of the heater and wrap a water heater jacket around the tank itself.
• Open your drapes and blinds during the day and let the sun heat your house for free. Close them as evening arrives to conserve the heat.
• Check your attic and crawl space for gaps in your insulation and replace.
• Install gaskets behind outlet covers on all outside walls.

These are just a few ways you can save on energy costs around your home. For more tips visit: www.smart-energy-online.com

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Home staging is a great way for a seller to get a home sold faster, however, some staging is designed to cover up major flaws in the home from a buyer. North Carolina is a buyer beware state, meaning the buyer must discover the home’s flaws and must do so prior to closing. When you are moving through the home, use all your senses to experience the home. Do you smell air fresheners, scented candles or fresh paint?

  Are the added scents to the home masking other unattractive smells of moisture or pets? Dig a little deeper to see if the fresh paint is just to spruce things up or if it is covering up underlying problems, such as a leaky roof or plumbing problems. A home’s carpet may look clean but the pad and flooring underneath may tell another story. If there are area rugs over existing wall-to-wall carpeting, they may be covering up flaws in the carpet. Look under all area rugs to see what lies beneath. Large pieces of art or mirrors may be covering up flaws in the walls. Also, most large pieces are anchored in the wall. Make sure you know what kind of holes those items will be leaving behind. Normally, when a home is on the market, the sellers will turn on all the lights and open all the blinds and curtains. Be wary if you visit a home that has all the blinds and shades pulled. This may be covering up bad windows. Putting smaller scaled furniture in a small room will give it the appearance of being larger than it actually is not. Just be aware of the true features in a room and do not get distracted by staged furniture. This is just the tip of the iceberg. To discover the true condition of the home you want to purchase, you need to have an experienced agent on your side to help you spot the indicators of larger problems in a home. Our knowledge of these and other common staging pitfalls will help you and your friends avoid these hidden problems.

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In recent years, the behavior of most homeowner’s insurance companies has changed drastically. Many companies will now cancel your policy if too many claims are filed. In some cases, policies have been canceled if only one or two claims have been filed. Some people have seen their policies canceled just for inquiring about a potential claim. Additionally, if your policy is canceled, it can become very difficult to get new insurance through another carrier. Many customers who have had their insurance canceled must go through their state’s re-insurance pool to obtain insurance on their primary residence. This re-insurance pool often has rates which are 50% to 100% higher than standard insurance rates.

Given the above information, it is important to proceed with caution in future dealings with your insurance company. First, use your homeowner’s insurance for only major/catastrophic claims. Since you will only be using the insurance for these major claims, consider increasing your deductible to $1000 or even $2,500 and reducing your rates. Increasing your deductible will help reduce your risk of being canceled. Second, if you are investigating a potential claim with your insurance company, you should probably do it anonymously. This includes not calling from your home phone, since they do use caller ID to identify the customer who is calling. Third, make sure that you are carrying enough coverage on your home in case of a total loss. Many insurers now limit their replacement cost coverage to 125% of the coverage amount. Therefore, it is important to make sure that 125% of your coverage is sufficient to rebuild your house if it is completely destroyed. You should evaluate your coverage amount once a year to ensure that your coverage keeps up with the building costs in your area.

Finally, many insurers are now using credit scores as one of the criteria for determining your eligibility for obtaining homeowner’s insurance. While some states such as California have banned this practice, many other states have not taken any actions in this area. Therefore, it is more important than ever to maintain a good credit standing. Due to a new law enacted by Congress, the credit bureaus must now provide you with a free copy of your credit report once a year. By September of this year, this law will take effect in all 50 states. To get your free credit reports you must go to the website: www.annualcreditreport.com

          - This report was provided by Carl Kiger of

                            Oak Wealth Mortgage Group

                                  www.oakwealthmortgage.com

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