Some homebuyers will take nothing less than a new home with an untouched bathtub. Others want a home with character in an established neighborhood.

Personal preferences aside, there are pros and cons to buying a newly built home over a resale, as well as financial implications for each option.

New-home advantages
Rochelle Fitzgerald, a sales associate with Coldwell Banker Residential Brokerage’s Rockwall office near Dallas, says, “There’s no question that some people prefer that ‘new-home smell’ and the idea that no one else’s feet have been on the carpet. On top of that, many people like to personalize their home by picking out everything from the beginning.”

Some buyers focus on the more practical aspect of buying a new home because it typically will require less maintenance than an older house.

“It’s very important to some buyers to have everything new, plus they have the peace of mind that comes along with the builder’s warranty,” says Dan Kruse, broker/owner of Century 21 Affiliated in Madison, Wis.

On the financial side, builders, particularly in a slow real-estate market, offer plenty of incentives to buyers.

“In a sellers market, new homebuyers will often spend as much as 10% or more above the purchase price for optional features,” says Jeff Ristine, broker/owner of Weichert, Realtors: Kingsland Properties near Chicago. “Now many builders are offering free options as an incentive to buyers, such as a finished basement and an upgraded kitchen. Builders are tailoring their incentives to specific buyers, so some will throw in things like initiation fees for a country-club membership.”

New-home disadvantages
In spite of the added builder incentives, real-estate experts say new homes are typically more expensive than existing homes.

“Traditionally, new homes are more expensive because they are being built from the ground up,” Kruse says. “In recent years, some new homes have come down somewhat in cost because the builders have been hurt so badly by the downturn in the housing market. For the most part, though, builders try to keep price integrity and will offer closing-cost assistance or upgrades rather than lower the base price.”

Upgrades and closing costs are typically tied to the buyer using a builder-designated lender and title company.

“I would caution buyers, at least in our market in the Chicago area, to be careful buying a new home because builders are competing against foreclosures and it could be long time before a new home will increase in value,” Ristine says. “Even with builder incentives, you are usually paying a premium for buying a new home, so you need to hold onto it for five years or more to build any equity.”

Fitzgerald says buyers of new homes should expect to own for longer than buyers of existing homes because of differences in price appreciation.

“In a new-home community, if you need to sell within a year or two, you are competing against the other homes that are still being built and can be customized,” Fitzgerald says. “Buyers will choose a brand-new home rather than a 1-year-old home, especially if the builder can offer incentives that a regular seller cannot.”

One other downside is the potential for living amid a construction site for several years, particularly if the builder has slowed development because of the recession.

When to buy a new home
Real-estate agents agree that the best values for a new home come when the development is nearly complete.

“In years past, buyers wanted to get in early to take advantage of pre-construction pricing and a better location within the community,” Kruse says. “But now, buyers want to get in late, so if you have to sell you won’t be competing with newer homes in the development.”

Ristine says buyers should be cautious about buying before a community is nearly complete, because some builders are so financially strapped that they cannot complete their developments.

Existing-home advantages
“The biggest advantage of existing homes is the maturity of the community,” Kruse says. Buyers can look at how well the homes have held their value historically. Plus, buyers willing to purchase a fixer-upper can more easily increase the value of their property than someone with a new home.

Fitzgerald says that buying in an established community allows homeowners to know more about the schools and neighbors before they buy.

Long-term value in new and existing homes
For most homebuyers today, the biggest concern is whether the property will hold its value.

“In 10 years, a new home purchased today is likely to have more value simply because you own a newer home designed to meet today’s standards,” Fitzgerald says. “A new community will have newer amenities, too, including schools and shopping areas.”

Kruse and Ristine believe long-term value depends more on location than the age of the property.

“Value depends on where a home is located and how well the home has been maintained,” Ristine says. “People do like new things, but if a home has been upgraded with a new kitchen and bath, it can compete very well with a new home.”

Ultimately, the decision to buy a new or existing home comes down to what a buyer values more: a maintenance-free, new home or a mature neighborhood.

Read at:  http://realestate.msn.com/should-you-buy-a-newly-built-home

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When the iPhone 4 came to Verizon Wireless earlier this month, the wireless giant said that initial online sales were the highest ever from any previous Verizon launches.

But subsequent online and store sales have been falling short of expectations, according to reports.

According to Boy Genius Report, a source from Apple said that unit sales from Verizon Stores and Apple Stores during the first five days of availability were far from stellar, and came in below Verizon expectations. Also, the Apple source noted that online preorder sales totaled around 550,000 units.

Reports that iPhone sales were falling short of expectations were so rampant that Verizon’s CEO Daniel S. Mead needed to go on record to refute such reports.

In an interview with the Wall Street Journal last week, Mead said that the iPhone sold better than any previous launch, including the highly touted Motorola Droid and Droid X. The previous numbers were solely based on several individual stores and did not include online sales, Verizon said.

In addition, Mead shared that Apple is ready to launch a 4G device on its network, possibly the iPad 2. “They understand the value proposition of LTE, and I feel very confident that they are going to be a part of it,” Mead said.

The truth probably lies somewhere in the middle. Sales of the iPhone 4 on Verizon likely were not as high as Apple had hoped, but for Verizon, the phone was a success. Early adopters of the device on Verizon’s network are mostly current Android and Blackberry owners.

A few prominent factors prevented the phone from selling as well as Apple or Verizon hoped for. In February, an unusual cold spell blanketed much of the Northeastern United States. A main reason, some experts say, is that most people who would like to switch carriers are locked in at AT&T and would be subject to hundreds of dollars in termination fees should they switch carriers to own an almost identical phone on a different network. That’s a high price to pay in today’s economy.

Verizon also made a few mistakes during the iPhone launch that could have helped sales, according to Gerson Lehrman Group, a business consulting and research firm.

Verizon, for one, did not allow side-by-side retailing at Apple Stores, pitting its version of the iPhone right next to the AT&T version, and allowing potential consumers to decide the difference. Perhaps the biggest misstep, according to Gerson, was that Verizon was too busy targeting current AT&T iPhone owners to realize that current Blackberry owners were the biggest targets to convince them of a switch.

After the Verizon iPhone 4 went on sale, it was discovered that roughly one-third of sales went to current Blackberry owners, and only 14 percent were AT&T iPhone owners switching carriers.

Read at:  http://www.theepochtimes.com/n2/business/verizon-iphone-sales-tepid-at-best-52105.html

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You’ve been out looking at homes with your real-estate agent all day. As you walk through the door of the last house on your list, your mouth falls open.

Finally, you’ve found “The One,” the perfect house. Stars shimmer in your eyes. You love the layout, the paint colors and the little powder room by the back door.

You make an offer and move in within the month. It’s not until things settle down that you discover that the roof leaks and that the foundation must be replaced — immediately. Suddenly, the stars dim as you face the prospect of several expensive repairs and unexpected home-improvement costs. Not fun at all. 

Homebuyers, especially first-timers, often are caught looking at the wrong things when they buy a house. They fall in love with all the things that are easy to fix and never think to look at the important clues that the house might be more trouble than it’s worth.

What should you do to make sure you’re not buying a lemon? Here are seven tips.

1. Check the foundation
A house’s foundation is probably one of the most expensive things to fix, which is why you must go down to the basement before you even look at the rest of the house. Do you see any cracks in the concrete or stone? If so, the foundation might be structurally unsound. If the basement is finished, look for cracks in the drywall, especially around windows and doors.

2. Inspect the HVAC equipment
While you’re down in the basement, look at the heating and cooling equipment. How old is it? Does it look like it’s running properly? Are the vents connected well? These are important questions to answer to make your home energy-efficient and to reduce your utility bills. Replacing a home’s HVAC system can cost tens of thousands of dollars, but many first-time buyers never give it a second look.

First, one-time occurrences, such as a basement leak, can happen again. Second, that water damage could have opened the door for mold, especially dangerous black mold, to grow.

Look for brown or white stains down the side of the basement walls. These can indicate a past leak. If the floor is bare, look for horizontal stains.

Be suspicious if the basement has been painted recently. Sellers often do this to hide water-damage stains. It’s also important to check the bathroom and under the kitchen sink. Look for stains that would indicate mold growth.

4. Check the electrical system
If you are looking at a home built before the 1930s, it still might have old knob-and-tube wiring. It can be a problem, if has been tampered with in any way. For example, if the attic has blown insulation sitting on top of the knob-and-tube wiring, this is tampering — and it’s a serious fire-safety hazard. Most insurance companies consider knob-and-tube wiring to be unsafe, so you’re going to pay more or be turned down for homeowners insurance if you don’t replace it. Replacing it means rewiring the entire house, which will cost tens of thousands of dollars.

5. Look at the house at least twice
Remember, when you first see that “perfect house,” you’re looking through rose-colored glasses. Always sit on the decision to make an offer and go see the house again a few days later.

6. Get a home inspection
This seems like old advice, but many people still don’t get a home inspection before they make an offer. If the home inspector says more research is necessary or files an inconclusive report, get a second opinion.

7. Consider that if the price is too good to be true, it probably is
Trust your gut here. If your dream home’s price is suspiciously low, there’s probably a good reason.

Beware. Buying a house is a huge decision and investment, especially if it’s your first home.

Don’t let first impressions and appearances sway you. Make sure you do your research and watch out for some of these pitfalls.

Read At:  http://realestate.msn.com/article.aspx?cp-documentid=27522974

I am constantly losing my keys and my phone. Either they get buried under a pile of gloves on our front table, or my 2-year-old decides that my keys would be much safer wedged between the sofa cushions. And, it’s always when I’m about to run out the door that I realize one or other has gone AWOL. However lost keys, cell phones, wallets, TV remotes or whatever can be found quickly when you have a locator tag or service attached to them.

Finding stuff at home
Item locators are two-piece systems: There’s the small tag you attach to the thing you want to track, and the receiver that tracks them. Before using the tags, you register them with the receiver. Some systems come with pre-paired tags, others let you input the name of the tagged item into the locator. When an item is lost, the locator will search for the item’s unique tag and give you auditory and/or visual directional signals to point you in the right direction. For a basic model, check out the Click ‘n Dig Key Finder ($37; clickndig.com). The system comes with two key-fob tags and two thin receiver tags that you can affix to items with double-sided tape. The system comes with two key-fob tags and two thin receiver tags that you can affix to items with double-sided tape. To find an item up to 60 feet away, you just press the colored button that matches your item’s tag and the tag will beep. On the high end, there’s the Loc8tor Plus ($170; loc8tor.com), which has a listed maximum range of 600 feet. It comes with four tags, but is capable of tracking up to 24 items. When you select the tag you want to find on the receiver’s display you’ll see the direction and range of the tag as well as hear it. There’s also an Alert Mode, which will trigger an alarm as a tag moves outside a pre-set range. Of course the maximum ranges for item locators reflect ideal circumstances. If your keys are prone to being buried in the sofa cushions, like mine are, you can expect the range to be about half the listed distance. And if my 2-year-old discovers the flushing-down-the-toilet trick, all bets are off!

Finding my lost phone
If I lose my phone, and I know that it’s not stuck between the sofa cushions, it’s time to turn to the tracking app I have loaded on my phone. For my iPhone, I use the Find My iPhone app (free; iTunes App Store). Since I’ve activated tracking on my phone, I can log into my account on my computer to locate my phone on a map, lock it or even wipe any personal data from it. Find My iPhone is integrated into Apple’s MobileMe service, which will run you $100 per year, but it’s also now a free service if you have an iPhone 4, iPad or the latest generation iPod Touch. There are similar services for other smart phones. There’s the Phone Locator app (free; BlackBerry App World) for BlackBerry, which shows your phone’s location. iTag (free; itag.com) for Android devices let you locate and lock your phone, as well as back up your contacts and wipe the data. And Windows Phone 7 devices can be located by logging into your Windows Phone 7 Live account.

Finding my sanity
With these tools, I’m now ready to walk out the door in half the time it took me before. And better yet, I can stress less knowing that even if I lose my phone, all is not really lost.

Read at:  http://www.msnbc.msn.com/id/41251793/ns/technology_and_science-tech_and_gadgets/

November is a good month to move some maintenance efforts indoors. This month also provides an opportunity to see if your hard work during earlier months paid off — nothing tests waterproofing efforts like a hard November rain.

Maintain large appliances

As the holiday season begins, make sure your appliances are prepared for the demands you will place on them. Pull your refrigerator from the wall and clean the condenser coils in back with a vacuum cleaner with a brush attachment. Also, vacuum dust from the front lower grille and clean the drip pan and the drain leading to it (if your unit has one). Clean the oven and stove drip pans on your electric range. Clean the surface burner on your gas stove to ensure proper flame level. De-stench your in-sink garbage disposal by packing it with ice cubes and 1/4 cup of baking soda; then turn it on. After the ice-grinding noise stops, pour a kettle full of boiling water into the sink. Check the dishwasher strainer and washer arm; clean if necessary.

Clean and maintain closets

Go to your closets and perform these two simple tests: Can you see floor space, and can you easily close the door? If the answer to either one of these questions is no, clean your closet. Cramped closets can provide haven for pests, too-full racks can break free from walls, and sliding doors can be derailed by too much stuff. Add compartments and hanging racks at different levels to utilize more space.

Maintain woodwork

November is a good month to repair and reglue woodwork, since indoor air is at its driest. If you are regluing wobbly dining room chairs, clamp during drying by wrapping a rope tightly around the perimeter of the legs. Be sure to protect wood surfaces with cardboard before tightening rope. Try using toothpaste on white water stains on wood surfaces. Once the stain is removed, polish with furniture polish. Use paste wax and elbow grease to put a new sheen on wood furniture.

Clear leaves from gutter

Cleaning gutters is a slimy job, but the task will protect your siding and basement from expensive water damage. Don long rubber gloves, grab a gallon bucket and scoop leaves into the bucket by hand. Trying to use a garden trowel or other device just makes the task more cumbersome and can damage gutters. Blast the scum from the bottom of the gutter with a hose equipped with a pressure nozzle. If it doesn’t drain well, feed your running hose up the pipe to knock loose the clog. Dump the contents of the bucket on your compost pile and pat yourself on the back for a dirty job well done.

Speaking of leaves …

Check some other places where accumulated leaves can be a problem. If leaves are piled in the valleys of your roof, they can retain water and initiate leaks. Walk your property with a shovel and clear drainage ditches and culverts of leaf buildup. Also, a moderate amount of leaves on a lawn can provide a natural mulch, but if large amounts are left to soak up winter rains, they will smother the grass beneath them.

Have problem trees trimmed

Now that you’ve cleaned your gutters, you know which trees are dumping leaves on your roof, shading it enough to encourage moss, and close enough to cause serious damage should they lose a branch in a storm. Trees are dormant this time of the year and can withstand extensive pruning. Decide which ones need cutting back and hire a professional to do the job. This is not a do-it-yourself task if the trees you are looking at are high enough to affect your roof. Trimming large trees is a dangerous job that should be left to an expert.

Maintain moisture

Heaters, especially forced air and wood stoves, can rob a home of humidity. A touch of moisture in the air makes heated air feel warmer, so you can keep the heat at a slightly lower temperature if your humidity is balanced. If your woodwork is cracking or your skin seems excessively dry, you need more moisture in your home. A furnace-mounted humidifier is likely the answer if your home has central forced-air heat and other measures don’t moisten things up. If you have a wood stove, put a nonwhistling teakettle on it and add water regularly (check it daily to make sure the water hasn’t evaporated). If you prefer not to go by feel, buy an inexpensive instrument called a hygrometer that measures humidity.

Maintain pools down south

For most of the country, pools are out of sight and out of mind during November. But if you live in sunny southern climes, this month marks the beginning of the dry season and the time to begin any pool maintenance job that requires emptying the pool. If a pool is emptied when groundwater levels are high, it can “float” and damage itself. So if you’re fortunate enough to live in a place where you can actually enjoy your pool in December, consider having major maintenance like replastering done this time of year.

Check your sump pump

Some unfinished basements in wet areas have sump pumps installed. These pumps switch on automatically when groundwater levels rise, eliminating basement water before it becomes a problem. If you have one, make sure it is in good working order before the rainy season starts.

Buy foam-cup covers for outdoor faucets

Be prepared to protect your spigots when the weather gets chilly and flirts with going below the freezing level. The foam cups are commonly sold at hardware stores and provide a cheap insurance policy that will help keep exposed pipes from freezing.

Read at: http://realestate.msn.com/article.aspx?cp-documentid=13107890