Kentucky

Care for Your Castle -- and It Will Care for You

Your home represents an investment, as well as being a protective haven for your family and possessions. Have you the foresight to protect it? If you have been through an emergency or disaster, you know the importance of this question. If you have only experienced a disaster through the news, you can only begin to imagine. But like many homeowners, you may be asking how you begin to tackle the task of being prepared for emergencies? Begin by looking at the structure and systems in your home.

Roof, Doors, Windows, Walls, and Vents

Designed to keep water, wind, and other elements out while keeping the heat in and allowing venting for health reasons, you must know the basic state of each element. Roofs that are leaking or have branches overhanging them can lead to extensive repairs down the road. In hurricane-prone areas, roofs should be secured with ties so that the trusses are attached firmly to the walls. In cold climates, heat loss through windows and poorly sealed doors can be significant. Storm season in certain climates can spell disaster if you cannot secure large windows. Materials for covering large windows can be hard to find during an emergency, so those in storm-prone areas should consider installing storm shutters or having sheets of plywood on hand. During power outages, remember that a poorly placed generator near a vent can bring carbon monoxide into your home, which could lead to death. Get to know the structure and condition of your home for your own safety.

Foundation

In areas prone to earthquakes or tornadoes, there are special tie-downs that connect homes to their foundations, ensuring that the framework of your home will not slip from its foundation. It can be easily determined if your home is secured to its foundation with tie-downs, or if it is an item to consider doing. Understand the condition of your basement and/or crawlspaces and any hazards that might be faced there. Excessive moisture around your foundation can lead to mold and mildew growth that impose health issues, so ensure that there is proper drainage around your home.

Water

In the event of an emergency, knowing how to turn off water to your home could be key to preventing substantial damage if your plumbing becomes compromised. Additionally, understanding where your water comes from and the nature of various types of failures of the system will aid you in determining if you need to treat the water during emergency times. Public water systems can be compromised in times of large-scale emergency, so don't assume your water automatically is safe for drinking and maintain an emergency supply of drinking water. However, if you live in a fire-prone area, you should consider if there enough water to support fire suppression efforts. On the other hand, if you are in a flood zone, do you have a basement that is likely to flood and do you have an escape route to higher ground?

Electric

Are your power lines buried or exposed? If your power lines are exposed, are there large trees nearby that could threaten your power supply in the event of wind or ice storms? If so, you may consider preventative tree trimming. Inside the house, do you know where your breaker box is? Do you know the health of your wiring and how much can be plugged into each outlet? Do you have GFCI (ground-fault circuit interrupter) plugs to protect people from electrical shock? Is the house grounded? If you elect to purchase a generator for use during power outages, is it stored in a secure place and maintained well? Do you know how to operate it and do you have fuel for it? Is it wired into the main panel? Do you know the load it can handle?

Heat and Cooling Systems

How much do you know about the condition of your heating/cooling system(s)? Have you had your furnace and/or air-conditioner maintained recently? What powers your system and what would you do if it were out for an extended period? If your system is powered by natural gas, knowing how to turn off the gas to your home could prevent a potential explosion in the event of a leak.

Sewer/Septic

A topic that many homeowners would like to avoid, it is critical to understand how your sewer and septic might be affected by an emergency. Flooding or long periods without power might require additional tasks to ensure the long-term functioning of your waste water system. If you are without power, often alarms that would otherwise alert people of system overload are not operational so extra monitoring may be required until alarms are functioning properly.

Terrain and Access

Do you live at the top or bottom of a long or steep street and/or driveway that could cause a problem in icy or flood conditions? Is there brush nearby that could fuel a fire and endanger your home or other structures? Consider any trees that could fall. Could that large tree you love so much threaten your house, or trap you in or deny emergency crews access to you? In a large-scale emergency, if you are in a place of difficult access, you may be isolated for a longer period of time. Ensure that you also have an access plan in place. If your home has more than one story, stairs, an elevator, or other factors that can affect your family when getting help plan for the worst. Having emergency rope ladders in upper story bedrooms could save a life.

Communications Systems

While often not directly a part of your home, this system deserves consideration. Summoning help to you in an emergency could be one of your biggest concerns. Your home's phone and internet may not be available in an emergency, and even cell-phone service may be down. Knowing about your cable or DSL system could help you in getting much-needed information. In power outages, many of these systems need to be reset or rebooted to operate, so ensure you know how to do that. Hand-held radios with batteries are often a useful way of getting basic information. Weather/emergency radios provide up-to-the-minute forecasts and information specific to your area. Additionally, having a communication plan or agreement with a neighbor to check on you in an emergency situation could ensure that someone knows what is happening in isolated areas.

Attics, Basements, Garages and Storage Areas

Knowing what you have where and how it is stored enables you to have what you need, in working order, when you need it. Avoiding these issues could contribute to the emergency. Gasoline that is improperly stored could result in fire or explosion, while in times of need having it on hand could be critical. Ensure that storage areas are well-maintained and free of hazards. Storing essentials poorly or in the wrong place could render them useless. Over-stuffed areas can create access issues, which could prove deadly in emergency situations.

Other Issues

If you live in a heavily wooded area, a low-lying area, an exposed area, a waterfront home or other place where terrain could constitute a specific threat -- do you have a plan for the worst? Is extreme weather, fire, tornado, earthquake, flooding, mudslides, storms or other natural disaster something that you have considered? Lack of resources and community support for solving problems might turn your dream home into a real nightmare. Forethought and understanding, however, can make your home a beacon of hope for you and others if you understand the issues and minimize risks.

An Ounce of Prevention

Don't assume anything, and go over your insurance policy with your agent when you renew annually. Understanding your coverage with regard to disasters like fire, flood, earthquakes, tornadoes, hurricanes or other natural occurrences can mean the difference of thousands of dollars in the event disaster strikes. Often special coverage is required and include limitations -- make sure you ask about such things. Having an inventory of your home and possessions, in the form of a written list, photos or videos will aid you in the event that you have to file a claim - but be sure to keep a duplicate copy in a secure place off site.

The Stress of Buying a New Home

Buying a home can be one of the more stressful experiences in life. It is often a long and sometimes intimidating process, lasting up to six months on average. The Real Estate market is huge and changes often with swings up and down. It's easy to become overwhelmed by how much is ahead of you and how little you know about the process. But with the right attitude, it can also be an enjoyable, even exhilarating experience. Here are some tips to make your home-buying experience positive and less stressful.

Preparing to Move

Organize

Be prepared by becoming knowledgeable. Educate yourself on each step of the process so you know what to expect. Get organized ahead of time. Keep a notebook and calendar dedicated exclusively to the home-buying process. An Excel spreadsheet is a great way to organize and compare all the information you gather, such as the homes you are interested in, potential lenders, and different mortgage rates.

Finances

Assess your financial situation before you begin looking for a home. Come up with a solid number for the maximum amount you can afford, as well as a target amount you would like to spend, ahead of time. Overestimate the closing costs (interest rates can change). This is also a good time to begin gathering the financial documents that you'll need when applying for a loan.

Keep your finances in order until you close on your new home, which could be as long as six months away. Do whatever you can to help improve your credit score; don't acquire new debt (no major purchases, new loans or new credit cards), reduce or eliminate any current debt, and pay your bills on time. It is never too early to begin improving your credit and is best started as early as two years prior to purchasing a home.

Find an Agent

Find a real estate agent who you trust and connect with on a personal level. Communication in this relationship is fundamental. Some questions to ask yourself: Are they good at translating industry jargon into terms you can easily understand? Do they communicate well using media that works for you, such as email, cell phone, or video conferencing? Credentials are a big factor too. Choose an agent with proven expertise-- like me, Angela Clark CRS-- in both the type of property and property location that interests you.

Finding a Home

"Think from the end," is a common phrase heard in human potential circles. See yourself in your new home. How does it make you feel? What does it look like? Keep a journal to record these thoughts. Be as descriptive as possible. This can help to not only narrow down precisely what you are looking for in a home, but it can also help anchor you emotionally during a potentially unstable time by keeping the big picture in mind.

While dreaming of your new home is an important first step, keeping your expectations in check is equally important. Keep in mind that the criteria of what you are looking for in a home will change along the way. No house is perfect. Be willing to compromise on some of your requirements. Make a list of your top priorities (must-have's) and lower priorities (nice-to-have's). This will help identify areas where you can be more flexible.

Once you've found a home you like and know what you can work with financially, don't let the latest market news influence your decision to move forward. If you start second-guessing the housing market or interest rates, you risk losing the home to another buyer. Choose a home because you love it. Listen to your heart.

Waiting for Acceptance

Once you've made an offer on a new home, try to relax and engage in your routine activities while you wait to hear whether the seller accepts your offer. During this waiting period, there are many potential stressors that could send your mind reeling. What if the seller rejects your offer, or comes back with an unreasonable counter-offer? Was your offer too little, or too much? Be prepared to make many offers before one is accepted. Keep in mind, even if your offer is accepted, there's no guarantee it will close. Try to remain detached from the outcome until after the property has been inspected and you've been approved for a mortgage.

Inspection Period

Hire experienced and certified inspectors to conduct a thorough inspection of the property including possible insect damage. Be present during inspection, so you can ask questions regarding the home and become knowledgeable about any issues that are discovered.

Getting approved for a Loan

Taking out a loan can be the most stressful part of the home-buying process. Transactions typically take at least a month to complete. Having your financial situation scrutinized can be an uncomfortable process. Worrying about whether you will be approved is an added stressor. It helps to gather your financial records (credit card balances/statements, bank statements, investment statements) prior to meeting with a loan officer. Obtain a copy of your credit report; you're entitled by law to one free credit report per year. A copy of your 4506 T form (IRS Tax Return Transcript), which includes a summary of your tax information, is also available online for download.

Don't lose sight of the fact that you have options when choosing a lender and a mortgage. This can help restore a sense of control when so much of the home-buying process is out of your hands. Talk to several lenders; don't just go for the first lender you talk to. Consult with your Real Estate agent to help you through the process of securing a mortgage. Don't hesitate to ask questions until you understand the answer.

After Close, Moving In

Congratulations! You've successfully negotiated yourself through the complex maze that is home-buying and now find yourself at last kicking back on your couch with your favorite drink in the home of your dreams.

Just the other day (February 29th Leap Year to be exact) I closed on a short sale transaction as the listing agent. My sellers lender happened to be J.P. Morgan Chase and as many people have probably heard about the short sale market...the big commercial banks TAKE FOREVER to get through the short sale process (more like a "long sale"). Typically you hear stories of deals taking anywhere from 2-6 months and then sometimes even longer.

Well after just closing with CHASE, I must say I have to give them a big round of applause and their well deserved KUDOS!

CHASE provided me with a private negotiator who I could call and speak with on a regular basis. If he did not answer, he would usually get back within 24 hours maximum, if not the same day. Our first offer was withdrawn by the buyers because they got cold feet after 30 days and wanted to move on to a typical home sale. Just a few days later we received our second offer...

36 Days Later....

We Closed! That's right...Chase was so efficient and well organized that we were able to go from CONTRACT to CLOSE to just a mere 36 days, which as many of you will know is even faster than many typical home purchases in today's market. My sellers and I were of course thrilled, but as you can imagine the buyers where estatic! They got a great deal and even mentioned "this was smoother and faster" than the last time we purchased a home.

I really wish and hope more banks move into this direction so we can speed up the short sale process to help move the stagnant inventory of homes. If we can push through this mess the housing market can begin to move forward into a steady, positive direction. So once again, I want to give praise to J.P. Morgan Chase for providing my sellers, myself, the buyer's agent, the buyers and the attorneys a stellar short sale transaction. Hopefully this will spread some light on the market and give hope to other Realtor and home sellers that are dealing with the overbearing inventory of short sales!

Dear Friends,

The big community service project for The Jubilee Teamis ready to go.

The Sherman Williams Logo

We start moving furniture and getting ready to paint tomorrow morning at 7:30.

Thanks so much to all the 2551 Regency Road Lexington, KY 40503
(859) 277-2570, thanks to the Nicholasville Road Chick Fil A, thanks to Sherman Williams on Regency Road for donating almost $300.00 worth of paint.

Carson Campbell, (no relation to me) the manager of Sherman Williamshas been a joy to work with.

Sherman Williams Store Front

Thanks Carson for not only donating almost half the paint but for giving us a contractors discount on all the supplies and the rest of the paint.

The Sherman Williams Address

2551 Regency Road Lexington, KY 40503

(859) 277-2570

A Great Big Thanks to All our Clients who let us help them sell and buy their homes in 2012. Without you we would not have had the money to paint this house for a very dear family.