Jim Rake

In September of last year, the U.S. Department of Housing & Urban Development (HUD) announced a change to FHA appraisal validity periods. The announcement was met with unanimous approval from all sectors; lenders, home owners & buyers, and yes, even appraisers.

The change to appraisal periods involved decreasing the validity time for FHA appraisals from six to four months for both existing homes and those under construction. Since the first of this calendar year, 2010, the new standard has been in effect. Why does the change matter?

For those of us that have faced selling properties, only to encounter difficulties with the appraisal, this reduced turn around time, or reduction of validity time, couldn't have come sooner. Because, no matter the soundness of an agent's estimation of a property's value, it is the appraiser's that matters most.

To Continue Reading this Article, Click Here: Appraisal Changes Come Due

I've recently been contacted by Mesothelioma Cancer Center and asked if I'd assist in spreading the word about this form of cancer, which is caused, almost always, by exposure to asbestos. Rarely, in life, do things happen by coincidence. We buried a friend of mine less than three weeks ago. He had been diagnosed with Mesothelioma less than four months ago. Please pay attention to the Center's article that follows. Asbestos is a hazard. Be aware.

The home buying process is an exciting time, but one that may bring additional responsibilities into your life. Many homes may need renovations or inspections, especially in areas that are susceptible to natural disasters. Having the assistance of an experienced and honest real estate agent will make this process smooth and stress free.

Some older homes may still contain obsolete building materials. Citizens of this great state are striving to move to a green lifestyle, advocating environmentally sustainable methods to be used throughout the state. Building or remodeling your homes with eco-friendly materials can lower utility and water bills, higher real estate value, purer air quality, reduced waste sent to landfills and conservation of natural resources.

Asbestos + Healthy Tips

Asbestos is a fibrous mineral that was used in construction applications for the greater part of the 20^th century. Often appearing as insulation, piping, roofing and flooring, homes and buildings could still contain asbestos materials if they were built prior to 1980.

If you locate any suspected asbestos in the home, most experts suggest leaving it un-disturbed until a home inspector can examine your property, take evaluations and determine the safest course of action. Sometimes the best action is no action at all. Disturbing asbestos in good condition may cause its fibers to be released into the air. The removal of asbestos must be undertaken by a professional abatement contractor who is trained in handling dangerous materials.

Exposure to this material can lead to the development of mesothelioma, a lung ailment associated with asbestos exposure. Though a cure does not exist, mesothelioma treatment options such as radiation, chemotherapy and surgery may be available to patients to battle the disease. Mesothelioma compensation has become tough to predict for victims and their families because diagnosis can take 20-50 years. For this reason, many people refer to it as a silent killer.

Removal of asbestos in public facilities, workplaces and homes should be performed by licensed abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants (NESHAP) are not violated. They must wear protective equipment such as masks and gloves to avoid any exposure. The materials should be removed in as large pieces as possible and places in disposable bags.

Green Building Benefits

Each and every human being would like clean air to breathe and crisp water to drink. It takes a lot of effort and political advocacy to achieve this on a macro level. The implementation of eco-construction, green energy solutions will play an important role in the transformation to a healthier and sustainable world. Many locations throughout Alabama are swiftly changing their construction practices to suit the environment and the health of human beings.

There are many green, eco-friendly materials that replace the need for asbestos and can reduce energy costs annually. These include the use of cotton fiber, lcynene foam and cellulose. Cotton fiber is quickly becoming a favorite for home builders and renovators. Made from recycled batted material, it is also treated to be fireproof. Research has demonstrated that the use of eco-friendly insulation alternatives can reduce annual energy costs by 25 percent.

Implementing green methods of building can have positive environmental, health and economic benefits. These include: Conservation of natural resources, enhancement of air quality, energy sustainability, increase property value, improve quality of life, improvement of pulmonary/cardiac health and reduction of waste.

To Continue Reading this Article, Click Here: Healthy Home Tips & Green Alternatives for Homeowners

"Incompetents invariably make trouble for people other than themselves."
Larry McMurtry

Did you see the news? Yesterday's New York Times carried an article detailing the results of recent federal mandated licensing exams for loan officers around the country. The results thus far are anything but encouraging. According the Times article, "31 percent of the roughly 10,000 people who took the national test from July 30 to Nov 30 failed it, and about 27 percent did not pass the state-specific component."

While there are those (you can trust that the dissenters aren't those depending on the expertise of their lender) who question the industry's testing, many others appreciate the attempt at accountability. Is it odd to expect those who provide you a service, especially one you pay for, to know what they're doing? One would hope not.

In the effort to clean up the mortgage industry and answer critics' claims of of its "poorly qualified" loans officers, the testing mandate includes both a federal and state national exam that covers federal laws, general mortgage knowledge, the loan-origination process and ethics. While I have to applaud the "after the fact" efforts to "fix" a disfunctional mortgage loan process, why did it take a crisis to prompt such measures?

The question that leadership in any industry or profession needs to ask itself, is, what are the minimal acceptable standards required by those licensed to perform or practice? Would I want them (the practitioner) to provide that service for me? What if had to pay them for their service? Would I trust them to provide me, or a relative or friend, advice? As we've all heard, "many people will only do what's required." Let's hope, when it comes to your trusted advisor, you're getting at least what you've paid for. And, if not, who will pay for their neglect?

To Continue Reading this Article, Click Here: Is a 31 Percent Failure Rate Acceptable?

Well, Christmas is finally here. On this Eve of what many consider our most celebrated, and certainly costliest holiday, what are you hoping to find in your stocking, or under your Christmas tree? According an associate of mine, for men at least, they're looking for something electronic. She informed that men always seem to want the latest electronic gadget. Women, according to her, are much more practical. Hmmmm, interesting.

So, what is your latest Christmas wish? Somehow, I doubt that it's A Christmas Story's Red Ryder BB gun. But, who doesn't look forward to opening what's under the tree? For many, Christmas is a time of celebration and renewal. Both, spiritual and personal. A wonderful opportunity for family to get back in touch with one another. For cards from distant friends. And, for others, the focus of the holiday is on giving.

What if we all were more like George Bailey? You know, Jimmy Stewart's role in the Christmas favorite, It's a Wonderful Life. The movie's main character, whose dream was to travel the world, but never quite got there. Instead, he was continually helping others less fortunate than he. With money, and time, and his tireless efforts. He certainly gave more than he got. Wouldn't you agree? Of course, George Bailey was a movie character, not a "real" person. But, if he was, who would he be? Do you know someone who fits his description? What about you?

As this year draws to a close, I'm reminded during this Christmas season of giving, that whether fulfilling our duties as professionals, as Realtors, we have a responsibility to give more than we'll get. And while there are those transactions that make us all wonder why we ever chose this profession, looking back, it's easy to realize the benefits clearly outweigh the challenges faced. Let's hope that the case for many of us.

Merry Christmas!

To Continue Reading this Article, Click Here: What's In Your Stocking?

Yes, if you haven't heard yet, we're snowed under! As you can see, the front yard is blanketed in almost two feet of snow, and the Northern Virginia area is struggling with a bit more of the stuff than they were ready for. Outside my front door this morning, it looked like this.

And, as I've said previously in this blog, when there's any show on the ground in Northern Virginia, driving on our roads is akin to bumper cars lite! While that might be a bit of an exaggeration, it's not far off. From what the local weather channel says, yesterday's snowfall surpassed the record level that occurred in 1932.

Of course, for many of us, being house bound isn't something we're used to. Most Realtors, after all, are out with clients on the weekends. So, the forced confinement is probably what I needed! Life's like that sometimes, don ‘t you think? Forcing us to do things we otherwise wouldn't. Perhaps there is something to an overall design to this life. Hmmm, I wonder if....on second thought, perhaps we'd better not start down that road.

So, are you going to be lucky enough to have a white Christmas too? We'll, while the snow's here, I might as well head outside and have some fun!

To Continue Reading this Article, Click Here: Let It Snow