5 realtor safety tips you need to know

Selling a home can be quite an accomplishment for your portfolio, future sale references and wallet. Unfortunately though, real estate agents are in a more dangerous industry than some may think. Implement these five tips into your next home showing for a successful, safe outcome: 

  • Alert someone to your whereabouts and what time showings will begin: Let a friend or spouse know where the house is that your showing. Let them know you will contact them afterwards, and that if they don't hear from you, to contact you or do a drive by.
  • Avoid keeping valuables and prescription drugs in site of potential buyers: Valuables in a home, especially those visible to an outside passerby or those looking at photos online can increase risk of a burglary. Lock up valuables for their safety, and that of your realtor. 
  • Only show during the day and ensure adequate lighting is used: According to AOL Real Estate, showing a home during daylight is the safest option. If showing during nighttime hours is necessary, keep all lights turned on and curtains open for street visibility. 
  • Plan ahead for an emergency situation: Know all escape routes and keep your car readily accessible on the street. Don't walk in front of potential buyers, instead lead them by pointing to the next location and standing outside the room.
  • Schedule appointments with potential buyers: Don't show a house to someone you don't entirely trust. Screen buyers beforehand with a phone call and ask for identifying information. Keep this information on file, or give it to your agency for safekeeping.

For other realtor information, energy efficiency audit news or commercial inspectors information schedule an inspection with Alban. 

Realtors, do you know your audience?

The housing market can fluctuate based on a variety of reasons including the weather, the economy or who is actually interested in making a purchase at the time. 

According to the 2015 National Association of Realtors Home Buyer and Seller Generational Trends study (NAR), there are major differences between generational home buyers. 

The survey stated Millennials (aged 34 and younger) make up 32 percent of all home buyers, the largest pool of home buyer applicants. Many of these buyers believe that purchasing a home is a good financial investment. 39 percent of those surveyed also stated that the desire to buy their own home was a number one reason to venture into the home market.

Other characteristics of current home buyers according to NAR include:

  • 33 percent of recent home buyers were first-time home owners.
  • 92 percent of buyers used the internet in some form to search for a home, and 50 percent used a mobile website or application.
  • The typical home buyer searched for 10 weeks and viewed 10 homes before making a purchase.

Connecting with potential home buyers is an essential part of the home buying process. Implement these four tips into your next selling experience: 

  • Be friendly, knowledgeable and assertive. 
  • Build a strong online presence with a website, social media outreach and email updates.
  • Understand what your client wants and explore other potential opportunities he or she may not have thought of.
  • Work the open house opportunities. Network with home buyers and leave your contact information with them.

Before selling a house to a client, ensure it has had a thorough home inspection. Contact an Alban home inspector contractor for an inspection that includes heating and insulation systems, electrical systems and building exteriors. Check out our website or call 1-800-822-7200 for more information. 

Finding Trustworthy Home Inspectors

Just twenty 20 years ago, 75 percent of all purchased homes underwent a professional home inspection before sale. Today, the volume of homes inspected hovers around 95 percent according to Bill Loden, president of the American Society of Home Inspectors (ASHI). Though the significance of home inspections in a turbulent housing economy is undeniable, a March 2014 report by the inspector general of the Federal Housing Finance Agency, the nation's top housing regulator, cautioned against falling victim to unscrupulous and unregulated practitioners. 

One of the reports strongest objections railed against the fact that the housing inspection industry is largely unregulated and even where regulations exist, the effectiveness of the statutes varies from state to state. In Maryland, inspectors are regulated by the Department of Labor, Licensing and Regulation and are required to take a 72-hour pre-licensing class as well as have a license renewal every two years. But in California, neither licenses nor class hours are required. 

The inspector general report also outlined the perusal of 84 property inspection reports and revealed that more than half of them contained some form of documentation error, such as one inspector appearing to have filed the same report repeatedly over a span of seven months. Other concerns pertained to firms inconsistently performing criminal background checks and housing inspectors with past or current ties to construction businesses "finding" flaws in homes and then recommending a colleague's firm to repair the damage. 

With any industry there will always be the troublesome minority that tries to cut corners, but for a reliable and professional home inspection company in the Maryland area, check out Alban Inspections! Visit our website for more information on all of the services we offer! 


Washington D.C. among country’s top 10 most energy efficient cities

Although D.C. lawmakers continue to stall and deliberate on the Shaheen-Portman energy efficiency bill, the city itself has ranked highly in a new report from the American Council for an Energy-Efficient Economy (ACEEE). The first-ever ACEEE score card placed Washington D.C. seventh on a list of 34 major American cities for energy efficiency.

USA Today reports that the nearly three dozen major metropolitan areas were ranked based on five specific criteria:

  • Community green initiatives
  • Efficient public transportation methods
  • Energy standards for buildings
  • Local government campaigns
  • Water and energy conservation programs.

Utilizing these parameters, ACEEE scored cities out of a possible 100. Washington, D.C., earned a 56. Boston, which won the top spot on the list, received a score of 77.

The results show that, regardless of legislation debates, major American cities are by and large making some impressive strides toward energy efficiency, and doing so at an increasingly quickened rate.

"Over the past five or so years, cities are rediscovering how important energy efficiency is to their economies," Eric Mackres, the study's lead author, told USA Today.

The eco-friendly improvements of these cities can be attributed to a number of new initiatives, including public disclosure of buildings' energy usage, enforcing more stringent building codes and helping low-income families afford energy-saving retrofits. Other effective programs include implementing more electric vehicle charging stations, adding bike-sharing programs, launching tree-planting projects and promoting "cool roof" modifications that curb the amount of solar heat a house absorbs.

Homeowners in the D.C. area looking to jump on the green bandwagon should consider scheduling an appointment for a home inspection. With an assessment from DC home inspectors, ways in which households may be wasting power can be identified and fixed, leading to fewer carbon emissions and cheaper utility bills.

Study: Connection between energy efficient homes and better mortgage borrowers

There are a host of reasons why energy efficiency is better for everyone in the long run: It saves homeowners incredible amounts of money in utility costs, it promotes a more effective utilization of resources and it's an environmentally conscious way of living. But a study conducted by a team of economists at the University of North Carolina has discovered one more reason to tack onto the list: It's good for your credit. More specifically, it finds that homeowners with fewer and lower energy expenses prove to be better mortgage borrowers, with lowers risks of delinquency or default.

The study, entitled "Home Energy Efficiency and Mortgage Risks," reaches a number of conclusions on this front. As the Natural Resources Defense Council reports, the findings aren't entirely surprising, as it makes sense that tenants living in more energy efficient homes will prove to be better borrowers. After all, if homeowners are paying less in energy costs, they will be in a better spot financially to make mortgage payments. But the study's discovery that lenders and investors typically ignore utilities as part of mortgage underwriting – the process that determines the potential risk of a borrower – is a surprising one. 

Utility expenses can greatly contribute to homeowner costs, and their exclusion from mortgage underwriting only hinders both borrowers and lenders. Mortgage lending companies and investors can mitigate this by using models that take a home's expected energy costs into account. This kind of data collection would greatly benefit both borrowers and lenders, reducing costs for the former and risk for the latter.

In the meantime, you can identify your own expected energy costs by scheduling a home inspection today.

Sales of previously owned properties are up in April

A recent report from the National Association of Realtors (NAR) indicated that home sales were up markedly during the month of April compared to March. The number of properties sold over that period rose to 4.97 million from 4.94 million, showing that the busy spring buying season is still under way.

However, the study indicates that sales are still not meeting their true potential, as housing stock across the nation continues to be constrained with supply failing to meet demand. 

"The robust housing market recovery is occurring in spite of tight access to credit and limited inventory.  Without these frictions, existing-home sales easily would be well above the 5-million unit pace," Lawrence Yun, NAR chief economist, said in the company's press release.

The group looks at closings on single-family homes, townhomes, condominiums and co-ops when gathering data for the study, noting trends that could indicate a shift from a seller's market to a buyer's, as well as yearly and monthly changes on the national scene. It appears that there were 10 percent more homes sold during April 2013 than during the same period the year before when only 4.93 million closings.

Resale activity in particular was especially robust over the period, as the number of new homes entering the market continues to lag behind already occupied properties.

If you are considering purchasing a previously owned house, make sure you conduct a home inspection before signing to ensure that you aren't making an ill-informed investment into a residence that will only cost you more money in the long run.

When selling a house, beat the home inspector to the punch

Spring and summer are notoriously the busiest seasons for home sales, and before any wise buyer signs the lease on a new property, they'll probably hire a home inspection contractor to come make sure that this investment is a wise one. In many cases, the home inspection can make or break a sales process, as these professionals are trained to uncover issues – no matter how minor – that could turn a buyer off to the property. However, to make the potential list of deficiencies uncovered during an inspection shorter, homeowners can be proactive about addressing the obvious problems that are most common in most homes before the inspector comes to check it out.

For examples, the water heater in a house should always be placed at least 18 inches off the ground, but many homeowners don't bother because the weight and shape of this device makes installation more difficult at such heights. The home inspector will be sure to point this out, so measure the space between your heater and the ground before showing your home.

Another easy fix is closing off needlessly exposed wiring. In many areas of your house, wires will be left uncovered because of home improvement projects that weren't properly completed. Simply cover up your tracks, and this is one less check on the home inspector's list.

Always be proactive, and make sure to contact a home inspection contractor before your buyer does to guarantee you get the asking price you desire when selling your home.

Address any potential flaws before an open house

According to Realtor.com, spring and summer are the best seasons to buy or sell a home, as real estate agents are able to make a house truly shine and spruce up the property during these times of year. It's easier for these professionals to really show a residence off once the weather becomes favorable. However, when a real estate agent takes prospective buyers on a tour during the spring and summer, the home's flaws will be as evident as its winning points, which is why many real estate agents recommend that homeowners undergo a house inspection with a professional contractor so that any issues can be addressed before the home is open to the public.

In most cases, a smart shopper will conduct a home inspection of their own on a residence they are interested in before negotiating the final terms of the sale agreement. This way, if it is discovered that the property will need some repairs to make it habitable,  the sales price may be lowered to compensate. Often, homeowners will find that addressing any problems beforehand will allow them to sell the home at the desired price and actually save money in comparison.

Recent reports from the National Association of Realtors have indicated that homes are selling at their highest prices in years, and that competitive bidding is making it a true seller's market. Now may be the perfect time to get in on the housing game and potentially turn a profit on your home. Make sure you increase your odds by conducting a home inspection before the open house.

Prefabricated homes a green option for new buyers

For buyers looking for the ultimate in energy efficiency in a prospective residence, an increasingly popular option is one that involves constructing new homes in a factory as opposed to on-site.

According to Sherri Koones, the author of four books about prefabricated homes, the average factory-made model is significantly more environmentally friendly than a house constructed in the field because it reduces waste. Instead of materials being thrown into a dumpster, the prefabrication method promotes the recycling of discarded items to use in other factory made residences, Koones told the Associated Press.

The author also claimed that the quality of the final product is much higher in comparison when a home is built using the assembly-line model that manufacturers of appliances and automobiles have revolutionized.

"Would you want your car to be built in your driveway? Of course you wouldn't. You want your car made in a climate-controlled factory by skilled professionals on an assembly line. Wouldn't you want the same thing for your home?" said Koones in the story.

Many companies have sprouted up over the past few year that are in the market to specifically design environmentally friendly houses that earn the governments coveted Learders in Energy Efficiency Design (LEED) certification. Seattle-based Greenfab, for example, lets buyers play an active role in every part of the design process to make sure their homes are comfortable as well as green.

Whether moving into one of these factory built homes or looking to make your current residence more energy efficient, an energy audit from and a home inspection should be your first step.

Growing families looking for larger homes

(ARA) – More and more households have extended family living together under one roof, and the tight fit has some families in the market for a larger home. From 2007 to 2009, there was a 10.5 percent increase in multi-generational homes that translates to 51 million Americans, or 16.7 percent of the population, who lived in homes with at least two generations of adults, according to a recent report from Pew Research Center.  If your household is growing and you’re looking for a larger space to accommodate your needs and family size, the housing market is in your favor.  Low prices and attractive interest rates have created an opportunity for anyone looking to make a larger housing purchase. As multi-generational living becomes more prevalent, builders and re-modelers have found a niche market in creating homes designed to fit the lifestyle.  For the “Sandwich Generation,” a generation of people who are caring for their aging parents while supporting their own children, there are advantages to having children and grandparents under one roof such as sharing of household responsibilities and finances and increased focus on family time together.  With these advantages, however, there may be a need for a larger home to accommodate a growing family. A recent TD Bank survey found that of respondents who were planning to sell their current home and buy up, one-third attributed it to a larger or growing family.  To finance a bigger home purchase, you can look to a jumbo mortgage.  Jumbo mortgages are home loans that are bigger than normal.  Normal varies by location, but in most housing markets, it’s more than $417,000. Choosing the right fixed rate fit Fixed rate mortgages are currently at historic lows.  These loans provide comfort and security through  payments spanning 15 or 30 years.  If you’re planning to stay in your home for a long period of time, they may be a good option. Adjustable rate mortgages for your lifestyle If you’re not looking to own your home for an extended period of time, an adjustable rate mortgage may be the best fit for your lifestyle.  An adjustable rate mortgage can allow you to save money if you’re able to pay down your mortgage over a one-, five-, seven-, 10- or even 15-year period.  Some lenders offer significant flexibility in the length of the loan and the frequency of rate adjustments in their ARM products,  For example, a 5/5 ARM has the interest rate which remains stable for five years and then readjusts once every five years after that.  Finding the right loan is important as even a 1 percent interest rate reduction created by taking out an adjustable rate mortgage may create sizable savings without necessarily sacrificing security. Refinancing your home Payback financing options, or piggyback options allow for a second mortgage or home equity loan to be taken out by a borrower at the same time the first mortgage is started or refinanced.  Some banks may offer a piggyback option but you might see a higher blended interest rate,  Portfolio lenders, like TD Bank, can help minimize the down payment and interest rate.  Portfolio lenders are able to do this because they don’t sell their loans to third-parties, resulting in more affordable, flexible home financing options for a borrower. Qualifying for your loan Qualifying for a jumbo mortgage does require stronger credentials, so be prepared for the process.  Though the process can be more rigorous, some banks like TD Bank treat jumbo mortgages as they treat other mortgage products, guaranteeing a decision on the loan in less than 24 hours.  A quick decision can help buyers close sooner or move faster when making an offer on the property they are looking to buy. Overall, the residential mortgage landscape is experiencing gradual improvements, with housing prices stabilizing and even improving in some markets.  If you’re looking for a larger space to accommodate your growing family, consider beginning your home buying process now.  When lookiing into lenders, consider a portfolio lender, who can offer flexible terms and lending guidelines, to best fit your unique borrowing needs.