A Nightmare Scenario

Watch this video to see what a nightmare accidentally buying a home the was previously a meth lab can be. Can you imagine? The lawsuits, the cleanup effort, the probable heath repercussions. Unfortunately it is something that happens all to often. Especially in today's economy with so many homes being sold as foreclosures and by banks who do not have to offer the same inspection processes and disclosures as typical sellers are required to. Be sure to educate yourself on what to look for as possible indicators that a home was a former meth lab as you go out house hunting.

Be On the Lookout for Meth Lab Signs

First of all it is important to note that meth labs are not just found in decrepit areas and small homes. Meth labs have been found in all types of homes. From rural homes to suburban and urban homes. They could potentially be anywhere. The contamination in a home that comes as a result from the presence of a current or former meth lab poses a health risk to all people living in and around the property. Those problems can range from respiratory illness, headaches, dizziness, and skin and eye irritation. One route to take if you are considering a home purchase is to do a bit of your own detective work. Contact the local police department and inquire whether a siezure of chemicals and lab equipment was made in the home, or if any hazardous materials were removed from the home. You can also contact the local fire department, county health department, or former owners and even neighbors who may have information on the property's history. Contact a certified home inspector who can look for evidence of a former meth lab during his/her inspection. Some possible signs of a methlab home include:

• Cat urine smell
• discarded packaging materials and equipment
• chemical stains on flooring
• burned grass or vegetation
• kitty litter (used to soak up spilled chemicals)
• unkempt home
• blackened out windows
• strange plumbing
• lots of plastic bottles/glassware

Of course having the RedSign team with you when you investigate Utah real estate is never a bad idea. We can help you spot warning signs that something might be wrong with the home and we have partnered with Utah's best home inspectors to ensure that you won't find yourself in the nightmare of having purchased a former meth lab. If you have any questions about this or any other Utah real estate matter, please don't hesitate to contact us! We are more than happy to assist you.

What a Week!

What a wild week for the East Coast! First the D.C. earthquake last Tuesday and then finishing out the weekend with hurricane Irene. Luckily the damage from both of these major events was not as significant as it could have been, but still, it has got me thinking about homeowners insurance. Certainly not many people on the East Coast have thought much about checking their home owner's policies for earthquake insurance, but have you? Purchasing a homeowners insurance policy doesn't necessarily mean that you will have all of the protection that you need. While most policies offer basic coverage for the most common perils, but your policy might not account for risks associated with your home's location, or your unique posessions. Basic homeowner's insurance policies do not include earthquake coverage (nor do they offer protection from the results of a quake, like a landslide, mudslide or sinkhole). Luckily though earthquake insurance can be purchased and added on to your policy easily. We learned earlier this year that flooding can be a serious issue here in Utah as well. If you live in a high-risk flood area you are likely required to have flood insurance. But more than 25% of  flood losses occur in areas that are considered to be at low risk for flooding, so it would be prudent to investigate your insurance policy if you are unsure if flooding is covered. Now would be a great time to consider carefully reviewing your homeowner's policy to make sure you have sufficient coverage for your Utah real estate. If you would like help dissecting your policy or would like additional information on how you can upgrade your coverage, please don't hesitate to contact us and we will be more than happy to assist you.

Twitter

We are excited to announce that Redsign.com now offers live updates for cities throughout Utah on our site.  If you haven't visited our area profiles yet, or if it has been a while,  you might want to take a look. We are excited to now offer real-time updates about cities, builders, and more! This new content will keep our site up to date with exciting news, updated city program information and events. Just setting up the Twitter feeds yesterday I learned of lots of exciting and fun things happening all over the valley. For example on the South Jordan real estate page I learned about the End of Summer Bash being held at the district tomorrow, complete with a Chalk Art competition! Sounds like a fun (and free!) way to spend a friday evening to me. The Draper Real Estate page was updated with information announcing the Ebay is expanding in Draper and is expecting to add another 2,200 jobs over the next few years. On the West Jordan Real Estate page I learned that the city (well the entire valley actually) is requesting that everyone turn off their sprinklers because of a punctured aqueduct (yikes!). There were dozens more updates with information on free movies in the park, farmers markets, local voting dates, park closures and so on. Staying connected with Utah real estate  has never been easier! Look forward to even more twitter and rss feeds to be added to our page in the coming weeks. In the mean time, be sure to follow us on twitter @theredsign.

Wild Ride

Watching the stock market tumble over the past week and a half has been stomach churning, hasn't it? As I watch my savings flush down the proverbial toilet I can't help but look for a silver lining and this morning I found one. Albeit it doesn't help >> me << out too much, but for potential Utah real estate buyers it could provide savings for the next 30 years. Yep, I'm talking about mortgages. The average rate on a 30-year fixed mortgage tumbled today to its lowest level on records dating to 1971. Freddie Mac noted that the rate on the most popular mortgage dipped to 4.15 percent from 4.32 percent a week ago. The last time long-term rates were lower than this was back in the 1950s. Five years ago the average 30-year fixed rate was near 6.5 percent and in 2000, it exceeded 8% (ouch!). The average home owner is paying an interest rate on their mortgage that is more than a full percentage point higher than the current average! The bad news, however, is that many potential home buyers are unable to take advantage of these low rates. With the unemployment rate hovering at about 9% and the stock market tanking most of us are clinging tightly to our money and are extremely cautious about making a big financial move, like purchasing a home. Adding to the problem is that banks are insisting on higher credit scores and larger down payments for first-time buyers. If you are in the market for a new home or a refinance though, please contact us! We have teamed up with some of the most experienced and trusted loan officers in the state to offer our clients top notch customer service and the best possible loans available. We can also help you apply for grants and downpayment assistance programs will assist you in your home purchase. We look forward to talking with you and helping you save money on your new or existing home!

I doubt many of you Utahns have had the privilege of visiting the great state of Minnesota. If you didn't have to move there, I'm fairly certain that it wouldn't make it on to your vacation destination list. When my family moved to Rochester, MN in January of 2006 for an internship, I wondered if we were insane. It was a dark, cold, seemingly barren tundra of a wasteland as we drove 1,000 east on I80. When we arrived it was -30 dgs. You heard me. It was horrifying. On our first weekend there we drove an hour and a half north to the only thing we could think of to do in Minnesota, visit the Mall of America (we were naive and didn't know that Minnesota is also home to the Nation's one and only SPAM museum). It's like a mall, but a lot bigger! There's a whole amusement park inside and you couldn't visit every store in the mall if you had four days. I kept stopping to read all of the random factoids plastered on posters around the mall. One such poster made my jaw drop. The Mall of America does NOT use a central heating system. I had to do a doubletake. I had just come in from outside where I could feel the blood freezing in my very veins. No heating system... wha?! It turns out that the comfortable 70 dg temperature of the mall is maintained by using skylights, and BODY HEAT from mall visitors. I was flabbergasted, and a little bit nauseous feeling like I was swimming in the "warm spot" at a child's swimming pool. Who knew that a mall so big and open could maintain such a nice temperature. Imagine the money and energy saved! Now, imagine if you could do the same thing in your home! Imagine if you could heat your home by simply hosting a dinner party. Seems pretty bizarre, but that is exactly what happens in a Passive Home. Passive homes are so well insulated that they don't need a furnace or a boiler. Only a dozen or so of these Passive Homes exist in the country, but the movement is exploding and dozens more are being constructed. Experts estimate that passive homes could be mainstream in as little as five years from now. In fact the first Passive Home in the Western United States was built right here in Millcreek, UT. The windows never feel cold, nor do the concrete floors, even though they don't have in-floor heating, says Joe Turner of his "passive" home in Salt Lake City. "The house is also super quiet." Currently passive homes cost about 6-12% more than a typical new home, but that cost is easily recouped in lower utility bills. With the drastically lower bills you will have your 6-12% back in as little as 7 years. The idea is exciting and promising and we look forward to more Passive Homes springing up in the Utah real estate world. If you have more questions about these homes or would like to know more about going green, please don't hesitate to contact us! We look forward to hearing from you! Oh and for the record, Minnesota should be on your vacation list, just hold off until the dead of summer. You can visit the Mall of America, SPAM museum, and more, I really did love it there.