Less-than-stellar neighbors can include homeowners with annoying pets, unkempt yards, unpleasant . . . → Read More: How to Prevent Neighbors from Devaluing Your Home]]> Your troublesome neighbor may not just be a nuisance…but a drain on your property’s value. According to the Appraisal Institute, a professional association of real estate appraisers, homeowners and potential homebuyers should be aware that problematic neighbors can significantly reduce nearby property values.

Less-than-stellar neighbors can include homeowners with annoying pets, unkempt yards, unpleasant odors, loud music, dangerous trees and limbs, or poorly maintained exteriors. A homeowner or prospective homebuyer should visit a street on several days at various times to learn more about what is happening in the neighborhood. A home’s proximity to a bad neighbor also can impact the rate of potential decline in value.

According to Appraisal Institute President Richard L. Borges II, MAI, SRA, external situations, such as living near a bad neighbor, can lower home values by more than 5 to 10 percent. Appraisers refer to this as external obsolescence, which is depreciation caused by external factors not on the property.

The Appraisal Institute suggests taking the following steps to help solve neighbor issues:

1. Speak with other neighbors. Get consensus when identifying issues, and approach the problematic neighbor together.

2. Look up original and updated subdivision restrictions. If talking to the neighbor doesn’t work, see if they’re violating any restrictions. If so, writing to the code office of the municipality and reporting the problem could spur an investigation into the nuisance. Depending on the offense, a call to the local health department also may be warranted.

3. Consult with your local municipality. Many cities, towns and villages have ordinances in place to deal with noise, the appearance of a property, trash and garbage issues, even parking on unimproved property. All of these are Quality of Life issues that affect the neighborhood. In some instances, the building or code enforcement departments might handle complaints. At times it will be the responsibility of the police.
4. Hire an attorney. If all else fails, the cost of an attorney likely will be less than the home’s potential loss in value.

When looking to buy or sell a home, also consult a real estate professional who is deeply entrenched in your community. An experienced agent will be able to identify potential neighbor problems and can help you troubleshoot the issue.

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

When looking for homeowners insurance for an unoccupied residence, the process can be difficult. Many companies will not cover such a dwelling or charge high . . . → Read More: Insuring an Empty Home? Four Things You Need to Know]]> Whether it’s a seldom-used vacation home or an unoccupied rental property, if you’re responsible for a vacant property, make sure you have the right kind of insurance in place.

When looking for homeowners insurance for an unoccupied residence, the process can be difficult. Many companies will not cover such a dwelling or charge high premiums because of the increased risk associated with vacant properties. The chances of burglary and vandalism are higher. The potential of unnoticed damage, which can compound problems and costs, also increases. There may also be an issue with squatters.

If a residence is vacant for more than 30 days, a standard insurance policy may become invalid. In order to find homeowners insurance that will cover this type of property for a reasonable price, here are four steps to take to help reduce risk and lower rates.

1. Make the home look occupied. Ask a neighbor to park their car in the driveway and put interior house lights on a timer. Experts also recommend leaving furniture in the home. Make sure to also have newspapers and other mail stopped.

2. Prepare the central heating and water. If a house will be empty during winter months, the risk of frozen pipes and water damage increases. By keeping the heat on at a low setting, this risk is reduced.

3. Arrange for regular inspections. The majority of problems that occur with vacant properties often start out as minor issues. But because they go unnoticed for long periods of time, damage and expense gets compounded. By having a trusted third party make regular visits, this can be avoided and add peace of mind.

4. Secure the property and remove valuables. All entry points should be secured with an alarm. Valuables should be removed so they do not attract attention that could lead to burglary.

5. Keep the exterior of the house looking “lived in”. Keep the lawn cut in summer, leaves raked in the fall, snow removed in winter.

By following these tips, you can reduce the risk and hopefully use it as leverage to receive lower insurance rates.

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and home ownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

The David Phaff Team at RealtyUSA is among the highest production teams in the region but is better known for its consumer-centric orientation and incredible customer service that makes for an ideal selling & buying experience as well as a great place to work.

Our long time Office Administrator is . . . → Read More: Job Opportunity With the David Phaff Team at RealtyUSA]]> WANTED:  OFFICE ADMINISTRATOR

The David Phaff Team at RealtyUSA is among the highest production teams in the region but is better known for its consumer-centric orientation and incredible customer service that makes for an ideal selling & buying experience as well as a great place to work.

Our long time Office Administrator is leaving and we are looking for a person with super powers to take charge of our motley crew. We need someone with at least two years experience in a similar or identical setting.

We need someone with the following attributes:

• Organized
• Capable of supervising office
• Focused
• Ability to multi-task
• Willingness to learn & teach
• Superior computer proficiency
• Excellent grammar, spelling and speech
• Active participant & contributor in team environment
• Social
• Creative
• Patient
• Task oriented
• Excellent researcher
• Totally consumer centric attitude
• “Can herd cats”

Preference will be given to applicants with NYS real estate license.

We are a no-smoking office and prefer not to hire smokers.

Pay rate is commensurate with experience and may include benefits. If you are absolutely incredible, modest and can prove it, this can be a very rewarding position.

For consideration, please send resume to David@davidphaff.com.

The total number of consumers with Equifax credit scores . . . → Read More: Credit Scores on the Rise, Loan Prospects Brighter]]> One of the silver linings of the economic downturn is that we’ve all gotten a lot savvier about the importance of maintaining good credit. In fact, according to recent research from Equifax, consumers across the country are increasingly moving out of the subprime credit-score category.

The total number of consumers with Equifax credit scores below 620 fell 2.1 percent, or by about 1 million consumers, in the third quarter of 2012 versus the third quarter of 2011. Equifax considers credit scores below 620 to be subprime, as consumers with such a score would have a difficult time securing a loan.

According to Trey Loughran, president of the Personal Solutions division at Equifax, consumer credit scores are improving in most major metropolitan areas across the U.S. as job markets continue to improve. Loughran also notes a growing trend among consumers to be more disciplined when it comes to their existing credit, and more cautious when it comes to opening new accounts.

When it comes to securing a mortgage loan in today’s recovering environment, remember, the higher your credit score the better. Be sure to do the following regularly to protect and/or improve your credit score:

• Check your credit report.  Once a year you can go to AnnualCreditReport.com or call 1-877-322-8228 to get free reports from each of the credit reporting agencies.  You can search for unusual activities and unauthorized accounts that may need to be looked into.
• Reduce the amount of debt you owe. First and foremost, don’t use your credit cards as much. Use your credit report to make a list of all of your accounts and then go online or check recent statements to determine how much you owe on each account and what interest rate you are being charged. Come up with a payment plan that puts most of your available budget for debt payments towards the highest interest cards first, while maintaining minimum payments on your other accounts.
• Be sure to make your payments on time. Set reminders for when payments are due or, better yet, set up online payment arrangements so that bills are paid automatically.
• Keep balances low on credit cards and other revolving credit. Even if you are paying your bills on time, high outstanding debt can affect a credit score.
• Don’t open new credit cards that you don’t need, just to increase your available credit. This approach could backfire and actually lower your credit score.

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,