Kathy Hyatt

First Day of Autumn 2009

Can you believe, three quarters of the year of 2009 is now behind us? September is my favorite month as this is the month that brings the last day of Summer and the first day of Fall.

The September equinox is where the sun rises directly in the east and sets directly in the west. This is also true for both the fall and spring equinoxes. So on two days of the year people will find the exact cardinal directions of East and West by using the sun.

The autumnal equinox for the northern hemisphere is the vernal equinox for the southern hemisphere. Another nifty way to say this is that when fall begins for the northern hemisphere at the same time, spring begins for the southern hemisphere. Keeping this in mind will help you understand why we have seasons. If part of the globe has opposite seasons than the other half, is not because of how close or far away we are from the sun. This is related to the tilt of the Earth on its axis.

As the North Pole begins to tilt away from the sun, cooler weather comes to the northern hemisphere because the sun is no longer giving its direct rays to this part of Earth. In winter when the North Pole is tilted it's farthest away from the sun, we have the least amount of daylight hours and the coldest weather. You can even notice the angle of the sun and how it never gets as high above the horizon.

Here is an interesting fact, while some would believe that we would have even days and nights, however, this is not the case. In the Northern Hemisphere on the fall equinox, daylight hours will still be longer than nighttime by about seven to 10 minutes. A couple days after the equinox, day and night are finally equal. You can check for the exact dates and time visiting the Naval Oceanography Portal.

Kathy Hyatt is a Native South Floridian, give her a call with any questions you may have on Real Estate or visit www.KathyHyatt.com

Awesome South Florida Living

I have been corresponding with a Buyer who lives in Massachusetts and is interested in moving down to South Florida. He has lived in Massachusetts for about 15 years and is tired of the snow. He has even made a list of pro and cons about Florida Living which I have to tell you I found completely humorous.

The one thing that may hold this Buyer back is our High Cost of Living. It is true, Real Estate Taxes and Home Owner's Insurance alone is Real Pricey and before you know the Mortgage Payment has escalated higher than most people's comfort level.

However, you must consider this. South Florida has a much diversified culture attracting people from all around the world. Throw in our Beautiful Weather, Many Shops and Fabulous Amenities and it is easy to see why South Florida is the place to Live.

It is important to know your "Values", when determining the replacement of a home's windows, appliances, or roofing. Realtors are wise to educated themselves on knowing approximately how long things will last and that has value to buyers and home owners.

Buyers may want to factor in replacement costs for aging components when they make an offer. Owners can use the information to decide whether to replace a component before a move. Now, a new study by the National Association of Home Builders provides some insight that can help your clients estimate the average useful life of more than 100 household appliances and building materials.

Of course, the true longevity of any household material depends on maintenance, use, quality of installation, as well climate conditions, so use these averages as a general guide. The NAHB report still beats asking handy Old Uncle Fred.

•· APPLIANCES

Exhaust Fan 10 Compactors 6

Dishwashers 9 Disposers, Food Waste 12

Dryers, Electric 13 Dryers, Gas 13

Freezers 11 Microwave Ovens 9

Ranges, Electric 13 Ranges, Gas 15

Range/Oven Hoods 14 Refrigerators, Compact 9

Refrigerators, Standard 13 Washers 10

Water Heaters, Electric 11 Water Heaters, Gas 10

Air-Conditioners, Room 10 Air-Conditioners, Unitary 15

Boilers, Electric 13 Boilers, Gas 21

Dehumidifiers 8 Furnaces, Warm-Air, Electric 15

Furnaces, Warm-Air, Gas 18 Furnaces, Warm-Air, Oil 20

Heat Pumps 16 Humidifiers 8

Note: Life expectancy is based on first-owner use.

•· CABINETRY & STORAGE

Cabinet Lines Bath Cabinets Lifetime

Entertainment Centers/Home Office 10 Garage/Laundry Cabinets 100+

Kitchen Cabinets 50 Medicine Cabinets 20+

Manufacturing Types Modular/Stock 50

Source: Appliance Magazine, Sep 2005 issue, Grainger Source: Wellborn Cabinet, Zaca, Timberlake Cabinet Co., Wellborn Cabinet, Moduline, Canyon Creek Cabinet Co., Easyclosets.com, Wellborn Cabinet

•· CONCRETE & MASONRY

Brick 100+ Veneer Lifetime

Caulking (for sealer) 2-20

•· COUNTERTOPS

Cultured Marble 20 Natural Stone Lifetime

Tile Lifetime Wood Lifetime

•· DECKS

Wood 20 Dry areas last 20-25, South 10-15, North 20-30.

Deck Planks 25

•· DOORS

Exterior Doors Fiberglass Lifetime

Steel, Fire-Rated Lifetime Vinyl 20

Wood Lifetime Interior Doors

French 30 to 50 Closet Lifetime

Screen 40 Pine 20 yrs, Cedar 40 yrs, Mahogany 60 yrs

Source: Fiberframe, Neoporte, Timeline Vinyl Products/Timeline Vinyl Windows, Victoriana East, Coppa Woodworking Inc., Marvin Windows and Doors, Kestrel Source: General Shale Brick, NHACP and NCSG, Sashco Sealants Source: Rynone, Buffalo stone, Architectural Products by Outwater, Formica Corp, Gibco Services, Florida Tile Industries, United States Ceramic Tile Co., National Hardwood Flooring & Moulding Source: Decks.com, Timbertech

•· ELECTRICAL & LIGHTING

Accessories 10+ Lighting Controls 10+

Copper Wiring Bare Copper Lifetime

Copper Clad Aluminum Lifetime

Copper Plated Lifetime If used in a non-corrosive environment.

•· ENGINEERED LUMBER

Engineered Trim 30 Laminated Strand Lumber Lifetime

Laminated Veneer Lumber 30+ Trusses, Floor Lifetime

Trusses, Roof Lifetime

•· FAUCETS & FIXTURES

Accessible/ADA Products Lifetime Faucets, Bar/Hospitality 15

Faucets , Kitchen Sinks 15 Faucets, Lavatory 20+

Faucets, Tub/Shower 20+ Saunas/Steam Rooms 15-20

Shower Doors 20+ Shower Enclosures/Modules 50

Sinks: Kitchen & Others-Enamel Steel 5-10-Modified Acrylic 50- Soapstone 100+

Faucets, Toilets/Bidets 10 Wear issues depending on use, new cartridges or seals.

Whirlpool Tubs 20-50 Lifespan of the rotating engine depends on the use made of the tub.

Source: Lutron Electronics, Lighting Controls Association, Copper Development Assoc. Source: Delta Faucet Co., Grohe, Kohler Co., Moen, Plexicor (part of Karran), Toto USA, Acquinox, Alumax, Alsons, Karran, Green Mountain Soapstone Corp., Saunastore Source: Engineered Wood Association, Georgia Pacific Corp., Georgia Pacific Corp., Lumber Specialties

•· FLOORING

Wooden Floors Lifetime Bamboo Lifetime

Brick Pavers 100+ Carpet 8-10

Concrete 50+ Engineered Wood 50+

Exotic Wood Lifetime Granite 100+

Laminate 15-25 Linoleum 25

Marble 100+ Slate 100

Tile 75-100 Vinyl 50

Other Domestic Wood Lifetime Terrazo 75+

•· FOOTINGS & FOUNDATIONS

Poured Footings and Foundations Lifetime

Concrete Block Lifetime Properly built foundations last indefinitely.

Termite Proofing 12 "Pre-treatment during construction: longevity of treatment depends on disturbance or not of the chemical barriers in place."

Plumbing-Concrete Waste Pipe 100 Plumbing-Cast Iron Waste Pipe 100

•· FRAMING &OTHER STRUCTURAL SYSTEMS

Poured-Concrete Systems Lifetime Structural Insulated Panels Lifetime

Source: Dry Up Basement, Unexco, Cast Iron Soil Pipe Institute, American Concrete Pipe Association, National Ready Mixed Concrete Assoc, Quikrete Source: ConForm Pacific, NGS Materials, Post & Beam Factory Source:Marble Institute of America, Berg & Berg, Dal-Tile Corp, Floortec, National Wood Flooring Association, General Shale Brick, Masland Carpets, Beaulieu of America, Concrete Designs, Formica Corp, Linoleumstore.com, DePaoli Mosaic, Monarch Ceramic Tile

•· GARAGES

Garage Door Openers 10-15 Light Inserts 20

•· HOME TECHNOLOGY

Audio, Built-in 20 Security Systems 5-10

Home Automation Systems Lifetime Home Networks, Wireless 50+

Heat/Smoke Detectors <10 National Fire Alarm Code requires that detectors be replaced every 10 yrs.

•· HVAC

Air Conditioners 10-15 Air Quality Systems 15

Boilers 13-21 Dehumidifiers 8

Ducting 10 Furnaces 15-20

Heat Pumps 16 Heat Recovery Ventilators 20+

Thermostats 35 Ventilators 7

Water Heaters, Tankless 20+ Electric Radiant Heater 40

Hot Water or Steam Radiant Heater 15+ Diffusers, Grilles, and Registers 25

Induction and Fan-Coil Units 10-15 Dampers 20+

DX, Water, or Steam 20 Electric 15

Burners <10 Oil burners and more maintenance and don't last as long as gas burners.

Source: LiteTouchHome Director, ADT and Slomin's Home Security, Home Director, Home Seer Source: CenterPoint Energy and Trane Residential system Group, Smarter Way Inc., CenterPoint Energy, Air Quality Engineering, CenterPoint Energy and Luxaire Unitary Products Group, Association of Home Appliance Manufacturers, American Society of Heating, Refrigerating and Air-Conditioning Engineers, Econar, Lomanco, Honeywell, American Society of Heating, Refrigerating and Air-Conditioning Engineers, EWC Controls, Fantech, No. American Insulation Manufacturers Assoc.US Dept. of Energy, Radiant Electric Heat, Radiantec, Radiantec, American Society of Heating, Refrigerating and Air-Conditioning Engineers, Power Flame Inc., Appliance Magazine Source: Wayne-Dalton Corp.

•· INSULATION & INFILTRATION BARRIERS

Insulation Material Cellulose 100+

Fiberglass Lifetime Foam Lifetime

Insulation Type Batts/Rolls Lifetime

House Wrap Lifetime Loose Fill Lifetime

•· MOLDING & MILLWORK

Custom Millwork Lifetime Stair Parts Lifetime

Stairs, Circular & Spiral Lifetime Stairs, Prebuilt Lifetime

Stairs, Attic Lifetime

•· PAINTS, CAULKS, & ADHESIVES

Adhesives Roofing 7

Paints & Stains Paint, Exterior 15+

Paint, Interior 15+ Depends on whether or not it is washable paint.

Source: York Spiral StairAzek, Authentic Pine Floors, Century Architectural Specialties, StairWorld, National Hardwood Flooring & Moulding Source: The Sherwin-Williams Co.,Slate Savers, Tamko Roofing Products, Dutch Boy Paints Source: DuPont, National Fiber, Johns Manville, RHH Foam Systems, No. American Insulation Manufacturer Association Source: Putnam Rolling Ladder Co., Genie Industries

•· PANELS

Hardboard 30 Oriented-Strand Board 25-30

Particleboard 60 Plywood 60

Softwood 30 Underlayment, Flooring 25

•· ROOFING

Material Aluminium Roof Coating 3-7

Fiber Cement 25 Asphalt 20

Modified Bitumen 20 Copper Lifetime

Simulated Slate 50 Wood 30

Clay/Concrete Lifetime Slate 50+

Source: Gardner-Gibson, Maxitile, National Roofing Contractors Association, GAF Material Corp., Asphalt Roofing Manufacturer's Association, Johns Manville, Metal Roof Specialties, Nycore, Authentic roof, 208 Shake&Shingle, The Northern Roof Tile Sales Co., Universal Marble & Granite, Slate Savers, Koppers, Northern Elastomeric, EcoStar, Metals USA, GAF Material Corp. Source: Georgia Pacific Corp., NGS Materials, Weyerhaeuser, James Hardie Building Products

•· SIDING & ACCESSORIES

Material Brick Lifetime

Engineered Wood Lifetime Fiber Cement Lifetime

Manufactured Stone Lifetime Stone Lifetime

Stucco 50-100 Vinyl Lifetime

Related Accessories

Soffits/Fascias 50 This time period applies for faccia in fiber-cement only.

Shutters Wood/Exterior 20 Shutters Wood/Interior 15+

Aluminium/Interior 10+ Sun can cause the strings to break.

Gutters and Downspouts Copper 50+

Aluminium 20 Galvanized Steel 20

Downspouts (Aluminum) 30 Downspouts (Copper) 100

•· SITE & LANDSCAPING

Asphalt Driveway 15-20 Polyvinyl Fences Lifetime

Clay Paving Lifetime Underground PVC Piping 25

Valves 20

Sprinklers 20 Usually made obsolete by advances in technology.

Controllers 15 Lifespan given for areas not prone to lighting strikes.

Source: Boral Bricks, APA, GAF Material Corp., James Hardie Building Products, Boulder Creek Stone and Brick, Owens Corning, Genstone Enterprises, El Rey Stucco, Heartland Building Products, Azek, James Hardie Building Products, Blinds.com, Vixen Hill Mfg. Co., Yost Mfg. & Supply, Berger Building Products, Guttersupply.com, (Rain Trade Corp. division)

Swimming pool, General Lifetime

Concrete Shell 25+ Interior Finish/Plaster 10-15

Interior Finish/Pebble-tec 25-35 Interior Finish/Tile 15-25

Cleaning Equipment 7-10 Decking 15

Waterline Tile 10

•· WALLS, CEILINGS, & FINISHES

Accoustical Ceiling Lifetime Moisture or movement can affect lifespan.

Ceiling Suspension Lifetime

Ceramic Tile Lifetime

The "Stimulus Bill" is not the only Hot Topic now days. The Federal Government has recently finalized some big changes on the Settlement Rules for Residential Sales, but it will be nearly a year before you will see any big changes at the Closing Table.

One of the final Projects the Bush Administration had been working on was the revision of the GFE (Good Faith Estimate) and HUD-1 (Closing Statement). The purpose of this is to make it easier for Consumers to compare costs between the two documents and improve the disclosure of Yield Spread Premium that are paid to Mortgage Brokers, which should eliminate the long going problem that Consumers face when going to the closing table.

There have been some minor changes in this Reform that did take effect on January 16^th, 2009. However the Date that is most important for Real Estate Practitioners to remember will be January 1^st, 2010. That is when Lenders will be required to use a complete revamped new three page Good Faith Estimate along with a revised HUD-1 Closing Statement.

These new forms will require Lenders to calculate the yield spread premiums as part of their origination fee. Of course the National Association of Mortgage Brokers has said it will challenge this in Court.

Home Builders are also angry that there will be a provision that will prohibit that from using an incentive to channel consumers into one of their affiliated services such as their Mortgage Lenders and Title Companies. Many Home Builders have indicated they may challenge this provision as well.

Another significant change with the new forms will be no longer allowing Lenders to change certain costs that are stated on the Good Faith Estimate disclosure. Some costs that cannot be changed will be the Origination Fees and Transfer Taxes. Some 3rd Party Costs such as Title Searches & Inspections can change; however this will be limited to no more than a 10% adjustment. If the difference is greater than 10% the Transaction can still close, however the cost Discrepancy will have to be worked within 30 days.

While all these changes will help many consumers, we will need to watch and see how many of these reforms translate into real-life situations. For more information, visit the National Association of Realtors Website.

Just When You Thought You Saw It All!

So I am wondering, this is a pretty interesting sign to have on your front lawn. Now I think, ok this Seller obviously is motivated to the Seller and at the same time the Neighbor is going to be motivated to derail the Sale. So what is a Real Estate Professional to Do?

So who is Game to call on this For Sale by Owner Seller?