Date Archives: January 2014

Buying a foreclosure is a great way to get a deal on a home, but it can also come with some challenges. Many prospective buyers might think about the option of getting a foreclosure, but it is not right for everyone. People in the housing market should choose the right property based on their specific needs so that they can live in a place that they can afford and appreciate.

Pros Of Buying A Foreclosure

There are several reasons why some consider a foreclosure a great investment into housing:

• Price: in many cases, a foreclosure can be purchased at a price that is much lower than market value. This is excellent for a buyer that has a small budget.
• Transaction speed: if a homeowner is in distress, they may have an interest in selling the property quickly so that they can get into a better financial situation.
• Flip value: Many people get a foreclosure so that they can put some work into the home and then "flip" or sell it at a higher price. Buying a foreclosure is especially logical for this reason, since most of them can be purchased at such a low price.

Cons Of Buying A Foreclosure

Unfortunately, there are some negatives involved in choosing to buy a foreclosure. Buyers must be able to account for these challenges if they are thinking about a foreclosure:

• "As is" condition: Most foreclosures require the buyer to take the home "as is." Often, these homes are in need of serious repair, which can get expensive.
• Hidden fees: these costs include survey fees and taxes for transfers, which are not often involved in a normal housing transaction. You also have to do your own research to be sure there are no leins against the property.
• Competition: foreclosures tend to be competitive, especially in popular neighborhoods. This means buyers might have to deal with other buyers or changes in the price throughout the deal.

A foreclosure can be an excellent way to get a good price on a home. However, there are certain drawbacks that must be planned for. To get help with buying a foreclosure in Virginia or West Virginia, get in touch with the real estate professionals at Old Dominion Realty.

Home safety is vital for people that want to protect the people and property in their residence. Every home and neighborhood is different, but there are some things that everyone should do in order to ensure that their residence is safe. Apply this advice to give yourself more peace of mind about your home being protected.

Never Put Notes On The Door For Deliveries

Placing a note on your door is one of the most obvious tips to a burglar that no one is home. Instead of placing these notes, try to call the delivery company to reschedule. Most delivery services will also allow you to pick up a package at their facility if you are not home while they deliver it.

Use Extension Cords Safely

For proper home safety to prevent fires, extension cords must be used appropriately. Never use an extension cord outside that is only graded for indoor use. Be certain that all of your extension cords are in working condition and do not have any broken connectors or frays. Do not use extension cords around a corner or through a doorway.

Keep Your Valuables In A Safe Place

If you have jewelry or other valuable possessions that you do not plan on wearing or using very often, think about investing in a safe deposit box to store them. Another excellent home safety tip to store your valuables is to keep them in an unexpected location, such as a child's room or hidden in the pantry. These are places thieves rarely look when they enter a home.

Make Sure Guests And Children Have The Necessary Information

Kids or people that are staying at your place must be aware of what to do in the event of a home emergency. Make sure that important phone numbers are posted in a very visible place and that everyone at the house knows the address in case they need to call emergency responders. They should also know where important home safety tools are located, such as a fire extinguisher or alarm system keypad.

In today's world, it may seem like there are more threats than ever to the safety of a home. Fortunately, advanced technology means that people can also do more to safeguard their home. Follow these home safety tips and you will have a better chance of keeping your home protected from all internal and external dangers.

Conserving energy in a home is important for a number of reasons. Not only will home energy conservation keep a residence adequately cooled or heated, it will also reduce utility bills. Homeowners should follow some important steps to make sure that their residence is efficiently using energy:

Use An Efficient Air Conditioning System

Air conditioning machines should have a good EER (energy efficiency ratio). The United States Department of Energy advises that homeowners use an air conditioning system with an EER of at least 10. Also, be sure to keep air conditioning devices and filters clean so that they can work to their fullest capability.

Improve Windows And Screens

High-performance windows are designed to ensure that cold and hot air is not lost. Once these windows are in place, it is important to periodically make sure that they are in good condition. High-performance windows and screens often contribute so much to home energy conservation that they could reduce the amount of strength that is necessary from a home heating or air conditioning system.

Use CFL Bulbs That Are Appropriate Sizes

Compact fluorescent light (CFL) bulbs give off the same amount of light as regular bulbs but use less power. Also, be sure that bulbs are the right size and wattage. The proper size and wattage for the bulbs in a home is determined by what kind of socket the bulbs are placed in.

Wash Clothes In Cold Water

Because of the increase in the efficiency of modern laundry detergents, cold water is usually just as effective as hot water is for cleaning clothes, except for heavily soiled clothing. Much of the energy used from doing laundry comes from heating up water used in hot water loads. For this reason, most clothes should be washed in cold water to save on energy costs.

Purchase Appliances That Are Energy Star Certified

The EPA's energy conservation standard, Energy Star, certifies consumer appliances for energy efficiency. Most Energy Star products use between 20 and 30% less energy than federal standards require them to. Buying appliances and electronics that are Energy Star certified will help homeowners meet home energy conservation goals.

Using less energy will reduce homeowner costs and protect environmental resources. In today's age of technology, there are more devices than ever that use some form of energy. Follow these home energy conservation tips to keep your home as efficient as possible. Are you looking for an energy efficient home? Let the experts at Old Dominion Realty assist you, visit: www.ODRVA.com