We perform home inspections in about 10 counties throughout Washington from Seattle to Wenatchee. Occasionally our clients call to book an inspection and are still a little confused about the inspection cost– who pays it, how much it is, etc. We did a little internet search and found a few closing cost calculators that may help the potential home buyer. The calculator we are sharing seems to have the most descriptions of the costs, but will only give you a rough idea since the costs are only estimations. For example, they estimate the cost of an inspection at $175, but our inspections start at $275…this is standard for a single family home. Condos may be less. Also, the appraisal fee usually starts around $300. A loan application fee will be added to the credit report for a combined fee of $75-$300. With all this in mind you can use the calculator to get an idea of the added costs associated with buying a home. If you have a good agent to walk you through the buying process then you won’t be blindsided with these costs. They can also help you negotiate fees that may be shared with the seller.
Closing Costs Calculator from Mortgage-Investments.com
Posted in closing costs, freddie mac, home inspection, homeowner, issaquah, king county, kirkland, Leavenworth Real Estate, mortgage, purchase, real estate, real estate data, real estate trends, realtor, redmond, seattle, seattle real estate, seller, taxes, washington, Washington Home Inspection, Washington Real Estate, washington real estate market, wenatchee, Wenatchee Real Estate, yakima
Tagged appraisal, chelan, closing, closing calculator, credit report, escrow, home inspection, home loans, leavenworth, loan application, mortgage, mortgage closing costs by state, seattle, wenatchee, yakima
In a time where buyers are cautious and are really weighing out all the benefits of home ownership here are some considerations for tax season. Several tax deductions and credits are providing relief to homeowners and making them very proud of their investment decision. Deducting mortgage interest, home equity debt, capital gains on home sales and taking advantage of energy conservation credits are just a few of the tax season benefits that homeowners can cash in on. Do you have a home office? There’s another one. Most of our monthly home loan payment is interest and you can deduct every bit of it. Only those folks with a loan of $1,000,000+ receive a cap on this deduction.
Stephanie Singer, a Realtors.org contributor wrote about this topic in Tax Time Less Taxing for Home Owners. She said that, “ninety-one percent of homeowners who claim the mortgage interest deduction earn less than $200,000 a year, and the ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home in 2010 with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 4.5 percent, could save nearly $3,500 in federal taxes when they file this year.”
We found a great resource from Kiplinger.com. They have listed all the deductions for homeowners at “What’s Deductible? – A to Z.” Check it out to make sure that you’re getting the most deductions as a homeowner. We use a skilled accountant in Wenatchee to guide us through our own tax deductions. We suggest that you hire a recommended accounting professional to point out these important opportunities for you.
Posted in builder, builders, chelan, closing costs, home inspection, home inspector, home owner, home sales, homeowner, issaquah, king county, kirkland, leavenworth, Leavenworth Real Estate, mortgage, purchase, real estate, real estate data, realtor, seattle, seattle real estate, taxes, washington, Washington Real Estate, washington real estate market, wenatchee, Wenatchee Real Estate
Tagged accountant, energy conservation credits, federal income taxes, file taxes, filing taxes, home inspection, homeonwer tax guide, homeowner tax deductions, leavenworth, mortgage, mortgage interest, seattle, tax credits, tax deductions, wenatchee, yakima
This week one of our staff went to a WSU Extension Energy Program training in Wenatchee with a focus on duct sealing and testing requirements for the 2009 Washington State Energy Code for HVAC: 503.10.3 Sealing. We have two Energy Star Performance Technicians on staff so this class was more of a refresher course on duct testing but we did benefit from understanding more about the changes to the new HVAC requirements. Basically, the code is in a trial period. Contractors must test the HVAC now but do not have to meet the target rate of allowable leakage during this 120-day testing period. In April 2011 a judicial committee will listen to arguments from all sides and make a decision about the 503.10.3 Sealing WA State Energy Code.
We performed a HVAC leakage test on a home in South Wenatchee. The new construction home performed well. It would have passed the new requirements. It was interesting to note the small leakages that could be easily fixed by mastic. The equipment used for testing the HVAC includes a duct blaster, manometer and blower door which could add up to $5,000. This is a new expense to contractors. There is also discussion about requiring third party testing due to conflict of interest. Should HVAC contractors be able to test their own work?
Here are a few interesting facts we learned in class this week. Did you know that 40% of a home’s fresh air comes from the crawl space or garage? Thinking about cleaning those spaces right now…aren’t you!? This is also a good time to remind you to open your garage door any time the car is on. A family of four can emit up to 3 gallons of water into a home daily from sweating, showering, cooking, etc. Where do the 12 gallons of water go? Be sure to use your oven and bathroom exhaust fans regularly!
Posted in air conditioning, caulking, contractor, crawl space, energy code, energy star, home inspection, home inspection report, home inspector, home inspectors, home owner, inspection, inspection report, inspections, issaquah, king county, kirkland, leavenworth, Leavenworth Real Estate, maintenance inspection, new construction, real estate, real estate data, real estate trends, realtor, seattle, seattle real estate, washington, Washington Home Inspection, Washington Real Estate, washington real estate market, wenatchee, Wenatchee Real Estate, wsu
Tagged bathroom, energy code, home inspection, hvac, kitchen, leavenworth, seattle, wenatchee
Every year the NCHBA or North Central Home Builders Association produces a spectacular home show in Wenatchee, Washington. There’s a little something for everyone whether you are interested in remodeling, decorating, building, buying or selling a home…they’ve got all the experts there for your questions! Here’s some info from their website. Download this COUPON for $1 off admission:
This year, we have a lot of new things going on and are very excited to “get the Show on the road”! The Kid’s Zone by Lowe’s is going to be fantastic this year. Not only will the kids be able to build their own project with a professional from Lowe’s, they can go on a scavenger hunt with their parents or enjoy FREE ice skating on Friday and Saturday. So, if you have kids that are 12 and under, make sure to take them to the Kids Zone by Lowe’s, located in the Crunch-Pak Hospitality Room on the the main floor of the Town Toyota Center! Workshops and How-to’s that you WON’T want to miss! Come and see what the Master Gardeners have to demonstrate on Friday, Saturday and Sunday of the show! Be one of the first 250 attendees on Saturday and Sunday and receive a special Home Show Entrance Bag! These bags will be filled with small gifts, specials and discount coupons from participating sponsors and vendors! These bags will also come in very handy when you need a place to stow away other information and items you gather! There will be additional event parking available for attendees across the street at Walla Walla Point Park, both parking lots, as well as at Lowe’s Home Improvement Warehouse. Many thanks to Lowe’s for generously allowing our Home Show attendees to use half of their parking lot for our event!
Posted in air conditioning, bathroom, biaw, builder, builders, buyer, chelan, closing costs, electricity, energy code, energy star, foreclosure, foundation, home, home inspection, home inspection report, home inspector, home inspectors, home owner, home sales, home show, inspection, inspection report, inspections, issaquah, king county, leavenworth, Leavenworth Real Estate, maintenance inspection, market, minor maintenance, mortgage, new construction, new home owner, plumbing, plumbing code, real estate, real estate data, real estate trends, realtor, seattle, seattle real estate, seller, toilet, trends, trulia, washington, Washington Home Inspection, Washington Real Estate, washington real estate market, wenatchee, Wenatchee Real Estate, yakima, zillow
Tagged bathroom, chelan, garden, home inspection, home loans, home products, home show, kitchen, leavenworth, lowe's, mortgage, neighborhood, remodeling, safety, seattle, seattle home show, town toyota center, wenatchee, yakima
Thermal expansion of water in a closed plumbing system can create a number of annoying and potentially dangerous problems. These include: unusually high pressure in a system, pressure surges, and the chronic or continuous dripping of a temperature and pressure (T&P) relief valve. In addition, dripping faucets and leaking toilet tank ball cock fill valves are also symptomatic of thermal expansion. More serious problems can also occur due to thermal expansion. When dangerous pressures are built up in a water heater, internal parts may fail such as the internal flues, fittings or water connections. If a flue way collapses it can lead to the potential release of toxic gases, such as carbon monoxide into living spaces.
Virtually, every modern plumbing code requires the installation of an expansion tank on hot water heater installations. The reason is simple. Water expands when heated. This extra volume of water needs to go somewhere. Before the widespread usage of backflow preventers, check valves and pressure reducing valves, this expanded water simply pushed the cold water back into the city water main. Now with these devices required in new construction and most permitted remodels we have successfully closed this system.
Where does the pressure to go?
Expansion tanks are really simple devices. They contain compressed air and a special rubber bladder. When your hot water heater turns on, the water within your piping system begins to expand. This expanding water slowly enters the expansion tank as the water is brought to temperature. Eventually, hot water is drawn from the system thru a faucet and the expansion tank releases the extra water into the piping system.
The installation of an expansion tank is a simple upgrade for any hot water systems. There are some things you need to know before running out and purchasing your unit such as existing water pressures, capacity of the hot water tank, and ensuring the unit you purchase is for potable water systems. I always recommend working with a licensed plumbing contractor.
Posted in bathroom, builders, buyer, chelan, contractor, faucet, heat, home, home inspection, home inspection report, home inspector, home inspectors, home owner, issaquah, king county, kirkland, lake union, leavenworth, Leavenworth Real Estate, plumbing, real estate, real estate data, realtor, redmond, seattle, seattle real estate, seller, Washington Home Inspection, Washington Real Estate, washington real estate market, wenatchee, Wenatchee Real Estate, yakima
Tagged home inspection, mortgage, seattle, thermal expansion, wenatchee, yakima
I heard of a good tip today while speaking with a local realtor who encourages “courtesy walk-throughs.” She suggests that the seller request a walk through with the current owner before closing but after all the negotiations and inspections. I like this. It decreases or eliminates the amount of call backs for the realtor and inspector. If the buyer gets to walk through the home with the current owners they can talk about the findings of the inspection report and any subtle quirks that only an owner living in the home for an extended period of time would really know all about. Things such as internet connections, garbage pick up schedule, sprinkler systems, neighbor agreements, etc.
The first line of defense for any home buyer or owner is a thorough home inspection. Add a courtesy walk-through for capturing more knowledge.