Lorraine Marchany

Most central New Jersey home owners know that damage caused by driving rain is usually covered under standard homeowners insurance policies. Once the precipitation hits the ground, however, all bets may be off. As a recent houselogic.com article pointed out, quoting DonnaLyn Giegerich Zapcic, an insurance professional in Red Bank, NJ, homeowners insurance typically excludes damage resulting from “seeping water, snow melt, rising bodies of water like lakes or rivers, and any type of rising ground water.”

We suggest that you take some time to thoroughly review your current homeowners policy. Flood insurance can fill the gap in coverage, but based on your home’s flooding risks and the value of your possessions, you might have enough protection already. If not, the cost of flood insurance averages $540 a year.

Homeowners can purchase coverage through the National Flood Insurance Program, as long as their communities participate. (Most communities do.) Getting coverage is comparatively easy. The program, part of the Federal Emergency Management Agency, will insure homes regardless of the risk of flooding – just be aware of the fact that premiums will vary accordingly.

Flood policies through the federal program are purchased from traditional insurance companies. You can call NFIP at 1-888-379-9531 for a referral. The maximum coverage limit is $250,000 for damage to the building and an additional $100,000 for damage to the contents. The annual premium for a residential policy that covers contents only in a low-risk area can run as little as $39; the cost can approach $6,000 to cover the building and contents of a home in a high-risk coastal area.

It's important to note that items in your basement aren’t all covered. Building policies cover the structure (drywall, ceiling tiles) and contents policies cover your furnace and appliances in the basement. But neither covers home finishes like paneling or carpet, or personal possessions such as clothing or artwork.

The average flood claim is $33,000, according to NFIP, but even an inch of water can cause thousands of dollars’ worth of damage to a home and its contents. Consider these figures, then take a little time to figure out your own risk:

Damage done by an inch of floodwater

Source: National Flood Insurance Program

We're The Marchany Team, and we're where you are, whether you're in South Brunswick or Monroe (Middlesex County). If you're in Mercer County, let us do the legwork for you in Princeton Junction, East Windsor, West Windsor, and Robbinsville. And if you're ready to sell in Franklin Park or Hillsborough (Somerset County), we're prepared to find the buyers who are looking for your home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.

Summer is fast approaching, and central New Jersey homeowners are in a preparation frenzy! A recent Houselogic.com article discussed decks, and we'd like to share with our readers some terrific ideas for keeping your deck beautiful. Most decks have a lifespan of about 10 to 25 years, depending on the weather. Whether your deck is old or new, here are some pointers for keeping it in top shape:

Should you clean, reseal, or replace your deck? Deck expert Jeff Wilson, host of DIY-TV’s “Build A Deck” and a regular on both HGTV and DIY-TV, uses this simple test to determine if a deck needs refinishing:

• In a heavily traveled area, splash the deck boards with a cup of water.

• If the water sits on the boards and beads up, the deck is still sealed—even if it looks silver or gray.

• If the water soaks down into the board and darkens the wood after two minutes, then it’s time to refinish and reseal.

How do you know if boards need to be replaced? Cracked boards are obvious; they definitely need to be replaced. But a lot of damage could be happening out of sight. Wilson recommends once a year to get under the deck with a flat-headed screw driver. “Just poke around,” he said. “If the screw driver goes into a board more than a quarter-inch, you’ve got rot. That’s a definite sign of issues.” If enough boards are bad, you might consider replacing the whole deck. Pay particular attention to the ledger boards where the deck attaches to the house. “That’s often where a deck fails,” Wilson said.

Also, check railings and stairs; wood and connections should feel solid.

Remember, maintenance is the key to a deck’s long life. Wilson recommends cleaning decks regularly — ideally once a year.

Always clean a deck before applying a water sealer or stain to remove mold and mildew spores as well as dirt. Wilson also recommends against using a pressure washer on decks. The velocity of the water can tear up soft wood fibers, ultimately doing more harm than good.

Here’s his deck-cleaning method:

You'll need: All-plastic pump-style garden sprayer, plastic stiff bristle brush, broom pole (to attach to brush), plastic sheeting, gloves, and goggles.

• Before starting, saturate the ground and any plants around your deck, to protect plants from runoff. Cover all neighboring painted areas with plastic sheeting. Also cover sensitive plants with plastic sheeting.

• Remove any debris that may have accumulated between boards.

• Use a deck wash cleaning solution designed for your deck’s material. Mix deck wash according to manufacturer’s directions and put in plastic sprayer.

• Spray an area that can be cleaned in 10 to 15 minutes, usually about a 10-by-10-foot area. You’ll see it bubble as it lifts the dirt out of the decking.

• Attach pole to brush and scrub lightly with the wood grain.

• Use a garden hose with a pressure nozzle to rinse.

There's no place like a deck for enjoying our area's fantastic summer weather. Remember, we're where you are, whether you're in South Brunswick or Monroe (Middlesex County). If you're in Mercer County, let us do the legwork for you in Princeton Junction, East Windsor, West Windsor, and Robbinsville. And if you're ready to sell in Franklin Park or Hillsborough (Somerset County), we're prepared to find the buyers who are looking for your home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.

photo courtesy of deck-idea.com

You've found the central New Jersey house of your dreams – congratulations! The house is getting a lot of attention from other buyers, and it's priced just right. This is the opportunity of a lifetime, and you don't want to miss out, right? You're fully confident that you're ready to put in an offer with the real estate agent right now.

Remember – lots of other people are looking at this house, too. You definitely want your offer to be the one that's accepted. Is there anything that you can do to guarantee your success? According to KCM, financial offers can be broken down into three broad categories, so let's look at those:

An All-Cash Offer

It's pretty obvious that any seller will favor a cash purchaser. Especially given the fast-fluctuating nature of today’s real estate market, an all-cash offer is even more enticing. It's also important to note that last month, one in four real estate transactions were impacted by a low appraisal. Presenting yourself as an an all-cash buyer will eliminate the need for a bank appraisal.

A Non-Contingency Offer

If you don’t have the cash reserves for an all-cash purchase, the next best option is to make a non-contingency offer. To do this, you should be pre-approved for a mortgage, and have your current house already in contract. These two factors will give the seller confidence that you are already a qualified buyer who will be able to complete the purchase.

A Contingency Offer

Some buyers start the process of looking for a new home before their current home is sold. This has the potential be a big mistake if your dream house suddenly appears on the horizon. If you find the home you want (one that's both perfect for your family, and priced right), it will be very difficult to get your offer accepted because you are not actually qualified to buy.

Asking a seller to wait for your home to sell can be very unreasonable in today’s environment. One of the things that would drive your desire for the home is the seller having priced the home at a value in order to sell it right now. They want to know it is sold when they accept an offer. Smart sellers normally will not even entertain a contingency offer.

Just remember – unless you have the ability to buy outright with cash, the best thing to do is to be pre-approved for a mortgage and have your current house already in contract before looking for the home of your dreams. This virtually guarantees that you'll get the home you love at a price that makes sense.

Ready to buy? Talk with us today, because we're where you are, whether you're in South Brunswick or Monroe (Middlesex County). If you're in Mercer County, let us do the legwork for you in Princeton Junction, East Windsor, West Windsor, and Robbinsville. And if you're ready to sell in Franklin Park or Hillsborough (Somerset County), we're prepared to find the buyers who are looking for your home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.

Warm weather means summer vacation for central New Jersey home owners! Before you pack up and head out, follow these tips from Hydreon Corp. and www.houselogic.com to ensure that everything's just as you leave it when you get back.

Don’t post notes about your vacation on Facebook until after you get back or, if you can't manage that, at the very least keep your location status off any public social networking pages. Many burglars use these sites to identify “safe” targets.

Leave your home with that “lived in” look. Lights on timers are a great first step. You just don’t want leave obvious signs that the house is unoccupied. Stop the mail and paper, or have a neighbor pick them up for you. Arrange for lawn care as needed. Don’t leave notes on the door!

Make it hard to get into your home. You need good locks, and you need to have the mindset that your hidden outdoor key is probably not as cleverly hidden as you think it is. Get to know your neighbors, and leave the key with them. Let them know you’ll be gone, and have them keep an eye out during your absence. If you have an alarm system, use it; you'd be amazed at the number of people who forget to set the alarm.

Park a car in the driveway, but be sure to take out the garage door opener first.

Prepare for the worst. What would the consequences be if your computer was stolen? For most of us, this would be pretty devastating. So, back up and password protect. Make a quick run-through of the house with a video recorder, listing off the valuables. This could save a lot of hassles with your insurance company if you should need to file a claim.

Speaking of which, your insurance policy is up to date, right? Take the added precaution of labeling your possessions with your name. An engraver is best, but a Sharpie is a lot better than nothing.

The good news is that only two out of a hundred homes are burglarized in any given year. The bad news, and this is intended to jump-start you into a bit of action, is that for those two homes that are burglarized, the effects of the intrusion are often devastating. The average burglary costs $1,750, and every bit peace of mind. Ask anyone who has had a break-in; they never look at their home quite the same again.

Security is a mindset, and doesn't need to be a burden. Remember, your security measures do not need to be perfect. Most crime is opportunistic, and if the guy down the street failed to take a few simple precautions, their house is more likely to draw the attention of the thief than yours. Frankly, there are no measures that can stop the most determined criminals. So, just take a few simple steps to improve your peace of mind. It will make your getaway that much more relaxing.

We're where you are, whether you're in South Brunswick or Monroe (Middlesex County). If you're in Mercer County, let us do the legwork for you in Princeton Junction, East Windsor, West Windsor, and Robbinsville. And if you're ready to sell in Franklin Park or Hillsborough (Somerset County), we're prepared to find the buyers who are looking for your home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.

Are you a retiring baby boomer? If so, you may be a central New Jersey home owner who subscribes to the theory shared by many in that group that you need to pay off your mortgage in order to enjoy a debt-free retirement. In fact, a recent article from the National Association of Realtors® cites www.bankrate.com as saying that “paying off mortgages early is 'in,' and refinancing to take money out is 'out'.” Want to be part of the “in crowd?” Here are four ways to do just that:

Pay a little more: Paying a little more principal lowers the amount of interest paid, and the added amount from then on is applied to principal. In fact, as little as $100 a month extra significantly reduces your interest, and shortens the length of your loan.

Round up: First, read your contract to ensure you won’t pay prepayment penalties. Bumping a $644 payment to $650 on a $200,000, 30-year loan saves you a whopping four payments at the end of the mortgage loan. When you do pay extra, verify that your lender is applying it to the principal (and not just setting it aside for the next payment).

Refinance for a shorter term: You can refinance your mortgage for 10, 15, or 20 years, but 15-year mortgages are the most common. Payments will obviously be higher on a 15-year loan, but not that much higher. Or, get the effect of a shorter-term mortgage without the risk by taking out a 30-year loan and making payments as if you had a 15-year loan.

Make biweekly mortgage payments: Biweekly payments take advantage of the fact there are 52 weeks in a year. Paying half your regular mortgage payment every other week adds up to 26 half-payments, or the equivalent of 13 full monthly payments, by the end of the year. The extra annual payment can chop about six years off a 30-year mortgage. You can ask your bank to credit the extra payments toward principal (so you save more on interest expense), although some banks set aside extra payments until the end of the year.

Of course, you should carefully consider the costs of paying your mortgage off early. Some home owners who’ve come into a few hundred extra dollars per month and are thinking of paying down their mortgages or paying them off early might want to consider putting that money into savings accounts (where it would remain liquid and available) for financial emergencies.

But they should keep in mind that Christmas presents, vacations, and new cars do not constitute “financial emergencies.”

Thinking about paying your mortgage off early? We'd love to talk with you today, and we're where you are! Whether you're buying or selling a home in South Brunswick or Monroe (Middlesex County), Mercer County (Princeton Junction, East Windsor, West Windsor, and Robbinsville), or the Franklin Park or Hillsborough (Somerset County) area, we're prepared to find buyers (if you're selling), or to help you find your dream home. Call The Marchany Team today at (732) 997-0019, and don't forget to “Like” us on Facebook! We are dedicated to helping you in every way possible.