Top 3 Most Common Home Defects to Check For

Top Three Most Common Home Defects to Check For
SAVANNAH, GA, Jun 28, 2011--Most homes, both new and old, have a few problem areas. However, according to Connie Ray, President/Owner of Coldwell Banker Platinum Partners, there are frequent flaws that every buyer and seller should check for before making an offer or putting a home on the market.

Wood

Rotted wood is one of the most frequently occurring maintenance issues, says Ray. The flooring and walls in places like kitchens and bathrooms are often exposed to moisture, and over time this can lead to rot. Buyers should also check basements and garages for rot, as well as the exterior of a house including any decks, overhangs or eaves, Ray suggests.

Water and Drainage

Water damage is one of the most expensive problems a homeowner can be faced with, Ray states. Water intrusion in basements and garages can create a rotting foundation, which is pricey to repair, and mold, which is difficult to get rid of. “Be sure the foundation of your home is properly graded for maximum drainage, and check that the gutters are in working order,” Ray suggests.

Roof

The roof is your home’s strongest shield against the elements. Maintaining your roof by replacing shingles and patching any leaks can extend the life of your roof, but it is a good idea to have it inspected every five years, and replaced every 20 years. “Keeping your roof in top shape can help you avoid some pretty big disasters, including major leaks and even a total collapse. If you find yourself patching and re-patching sections of your roof annually, it might be time to replace it completely,” Ray says.

Making sure you check for and repair these common home defects before placing your home on the market can decrease complications in selling, and improve the results of your home inspection report, notes Ray . If you’re buying a new home, paying special attention to these problem areas can help ease the likelihood of future repairs and give you valuable points of negotiation.

How to make the most of your home inspection

Alright, so you have received the results of your home inspection—now what? With all the excitement of the house purchase and the new move, many homeowners make the mistake of putting the results of their home inspection aside, thinking they will make necessary repairs later. “Your home inspection results are a great push-off point for making necessary repairs,” says Connie Ray, President/Owner of Coldwell Banker Platinum Partners. “Making the repairs sooner rather than later can pay off in the end.”

Infrastructure Issues
If your home inspector found problems with the frame or groundwork of your house, these problems should be addressed immediately, suggests Ray. Similarly, a leaky roof or basement may seem like something that can be dealt with later, but once mold or mildew sets in, it can be problematic to remove, and the future potential for water damage could set you back thousands of dollars. “Re-roofing, repairing and sealing any cracks before you begin to move in your belongings is a smart idea,” says Ray. “Pay special attention to areas of entrance, like doors and windows, where cracks and openings can let in damaging moisture and make insulation difficult.”

Electrical Checks
Problems with electrical systems are the second most common type of problem reported nationwide by the American Society of Home Inspectors (ASHI).Your home inspection report should include a thorough check of your home’s wiring, circuit breaker, water heater, appliance hook-ups and lighting fixtures. “Don’t take any chances with electrical systems,” says Ray, “especially if you have an older home that may have been designed under an outdated electrical code that is no longer up to par.” Even if no major electrical problems show up on your report, Ray suggests installing safety devices such as a ground fault circuit interrupter (GFCI) or arc-fault circuit interrupter (AFCI) as a precaution.

Safety Repairs
“Issues with home safety reported in your inspection should not be overlooked for any amount of time,” warns Ray. Things like radon, lead paint and asbestos should be removed before your family moves in.

Negotiate
“Often, people don’t realize that a home inspection report with a laundry list of problems can be a valuable negotiation tool for closing a deal,” says Ray. “You may be able to ask for a lower price or request that some of the major repairs—such as a faulty wiring system or leaky roof—be made on the seller’s dime before you move in.”

Coldwell Banker Real Estate Issues Home Listing Report Ranking More than 2,300 of North America’s Most Expensive and Most Affordable Markets

Coldwell Banker Real Estate Issues Home Listing Report Ranking More than 2,300 of North America’s Most Expensive and Most Affordable Markets

Darlington is South Carolina’s Most Affordable Market; North Myrtle Beach Tops the State’s Most Expensive List

South Carolina (June 15, 2011) – Coldwell Banker Real Estate LLC today released its Home Listing Report (HLR), a snapshot survey of listing prices for four-bedroom, two-bathroom homes in more than 2,300 North American markets. The survey reviewed 35 real estate markets in South Carolina and found Darlington led the list of most affordable markets in the state, with an average home listing price of approximately $95,120 for property listings meeting the subject home criteria. The report identified North Myrtle Beach as the state’s most expensive market, where the average four-bedroom, two-bathroom home has a listing price of $399,094. The difference of more than $300,000 between most expensive and most affordable South Carolina housing markets is just one of the many findings in this comprehensive market report. Compared to the national average of $293,251, the average four-bedroom, two-bathroom home in South Carolina overall was $220,763.

The Coldwell Banker HLR provides the average home listing price of four-bedroom, two-bathroom properties on coldwellbanker.com that were listed between September 2010 and March 2011 from more than 2,300 North American markets. Markets included in the U.S. report were required to have at least 10 properties fitting the above criteria within the relevant timeframe.

"This year’s home listing report is by far the most in-depth local market source of data that Coldwell Banker has ever released,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC. “We’ve included nearly ten times more markets than ever before, which gives us unmatched real estate insight into thousands of North American cities. For instance, we can see that there are 775 U.S. markets averaging $200,000 or less for these types of aspirational homes. We know that home buying remains a deeply personal lifestyle decision, and we believe that reports like this, along with trusted real estate agents, will help to today’s buyers make smart decisions.”

The South Carolina markets featured in the 2011 Coldwell Banker Home Listing Report are:

South Carolina
Market Name State Rank National Rank Average Price
DARLINGTON 1 18 $95,120
HARTSVILLE 2 188 $144,415
NORTH CHARLESTON 3 284 $156,795
ANDERSON 4 373 $165,946
CAMDEN 5 402 $168,186
CONWAY 6 429 $170,245
TAYLORS 7 533 $179,162
ELGIN 8 555 $181,025
ORANGEBURG 9 660 $189,506
ROCK HILL 10 671 $191,182
WALTERBORO 11 740 $197,165
LEXINGTON 12 746 $197,515
BLUFFTON 13 748 $197,572
WEST COLUMBIA 14 764 $198,859
SUMTER 15 768 $199,338
IRMO 16 778 $200,048
COLUMBIA 17 822 $203,972
GOOSE CREEK 18 827 $204,324
GREER 19 897 $210,199
SPARTANBURG 20 911 $211,843
SUMMERVILLE 21 1,014 $222,464
FLORENCE 22 1,018 $222,784
SIMPSONVILLE 23 1,028 $223,356
MYRTLE BEACH 24 1,041 $224,398
BLYTHEWOOD 25 1,056 $226,888
GREENVILLE 26 1,080 $230,209
FORT MILL 27 1,198 $244,394
EASLEY 28 1,257 $251,644
AIKEN 29 1,420 $274,538
MURRELLS INLET 30 1,427 $275,389
CHAPIN 31 1,532 $297,947
BEAUFORT 32 1,560 $301,813
CHARLESTON 33 1,635 $322,212
MOUNT PLEASANT 34 1,713 $347,163
NORTH MYRTLE BEACH 35 1,878 $399,094

An interactive graphic summarizing the full results of the Coldwell Banker Home Listing Report is available on coldwellbanker.com. Full national data can be accessed on the Home Listing Report website, and additional state data can be found at http://hlr.coldwellbanker.com/us2011/southcarolina.html.

Coldwell Banker Real Estate Issues Home Listing Report Ranking More than 2,300 of North America’s Most Expensive and Most Affordable Markets

Coldwell Banker Real Estate Issues Home Listing Report Ranking More than 2,300 of North America’s Most Expensive and Most Affordable Markets

Riverdale is Georgia’s Most Affordable Market; Dunwoody Tops the State’s Most Expensive List

Georgia (June 15, 2011) – Coldwell Banker Real Estate LLC today released its Home Listing Report (HLR), a snapshot survey of listing prices for four-bedroom, two-bathroom homes in more than 2,300 North American markets. The survey reviewed 97 real estate markets in Georgia and found Riverdale led the list of most affordable markets in the state, with an average home listing price of approximately $61,618 for property listings meeting the subject home criteria. The report identified Dunwoody as the state’s most expensive market, where the average four-bedroom, two-bathroom home has a listing price of $379,866. The difference of more than $300,000 between most expensive and most affordable Georgia housing markets is just one of the many findings in this comprehensive market report. Compared to the national average of $293,251, the average four-bedroom, two-bathroom home in Georgia overall was $180,373.

The Coldwell Banker HLR provides the average home listing price of four-bedroom, two-bathroom properties on coldwellbanker.com that were listed between September 2010 and March 2011 from more than 2,300 North American markets. Markets included in the U.S. report were required to have at least 10 properties fitting the above criteria within the relevant timeframe.

"This year’s home listing report is by far the most in-depth local market source of data that Coldwell Banker has ever released,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC. “We’ve included nearly ten times more markets than ever before, which gives us unmatched real estate insight into thousands of North American cities. For instance, we can see that there are 775 U.S. markets averaging $200,000 or less for these types of aspirational homes. We know that home buying remains a deeply personal lifestyle decision, and we believe that reports like this, along with trusted real estate agents, will help to today’s buyers make smart decisions.”

The Georgia markets featured in the 2011 Coldwell Banker Home Listing Report are:

Georgia
Market Name State Rank National Rank Average Price
RIVERDALE 1 2 $61,618
COLLEGE PARK 2 4 $72,477
LITHONIA 3 8 $77,385
AUGUSTA 4 22 $97,570
JONESBORO 5 27 $102,867
STONE MOUNTAIN 6 28 $102,903
COVINGTON 7 50 $115,233
CONYERS 8 61 $119,870
HAMPTON 9 66 $121,625
SNELLVILLE 10 70 $122,489
ELLENWOOD 11 78 $125,509
REX 12 79 $125,600
WEST POINT 13 88 $127,273
DALLAS 14 92 $128,330
STOCKBRIDGE 15 94 $129,057
THOMSON 16 107 $132,170
DUBLIN 17 111 $132,803
LOGANVILLE 18 115 $133,760
LAWRENCEVILLE 19 136 $136,653
GRAYSON 20 150 $139,109
BYRON 21 158 $140,168
MONROE 22 162 $140,328
POWDER SPRINGS 23 180 $143,481
NORCROSS 24 181 $143,537
LOCUST GROVE 25 193 $144,635
DOUGLASVILLE 26 201 $146,186
HEPHZIBAH 27 218 $149,372
NEWNAN 28 223 $149,685
LUDOWICI 29 234 $151,088
GROVETOWN 30 239 $151,291
DOUGLAS 31 264 $154,450
MILLEDGEVILLE 32 265 $154,485
DACULA 33 267 $154,589
DECATUR 34 285 $156,845
HINESVILLE 35 306 $159,379
LILBURN 36 324 $161,360
BUFORD 37 340 $162,528
AMERICUS 38 346 $163,140
ACWORTH 39 360 $164,710
ALBANY 40 371 $165,870
MACON 41 410 $168,478
THOMASVILLE 42 423 $169,740
DALTON 43 439 $171,687
BRUNSWICK 44 441 $171,708
RINGGOLD 45 447 $172,044
COLUMBUS 46 453 $172,633
MCDONOUGH 47 477 $174,178
ST MARYS 48 484 $174,965
KINGSLAND 49 489 $175,419
KATHLEEN 50 500 $176,248
THOMASTON 51 502 $176,440
CHATSWORTH 52 504 $176,655
BRASELTON 53 520 $178,300
WARNER ROBINS 54 531 $178,964
SUGAR HILL 55 574 $182,600
LAGRANGE 56 592 $183,823
LEESBURG 57 615 $185,633
GUYTON 58 620 $185,997
MIDWAY 59 625 $186,411
STATESBORO 60 628 $186,567
JACKSON 61 631 $186,843
CALHOUN 62 722 $196,025
POOLER 63 729 $196,335
KENNESAW 64 755 $198,088
DULUTH 65 766 $199,059
BONAIRE 66 777 $200,037
SAVANNAH 67 784 $200,517
HAHIRA 68 795 $201,588
TIFTON 69 807 $203,034
VALDOSTA 70 810 $203,251
CANTON 71 829 $204,580
WOODSTOCK 72 839 $204,984
ATHENS 73 851 $206,219
SUWANEE 74 875 $208,595
FAYETTEVILLE 75 914 $212,161
RINCON 76 929 $213,444
ELLIJAY 77 948 $215,371
GRAY 78 964 $216,482
CUMMING 79 990 $220,071
MIDLAND 80 1,015 $222,505
MABLETON 81 1,019 $222,871
EATONTON 82 1,045 $225,823
PERRY 83 1,064 $228,018
RICHMOND HILL 84 1,074 $229,721
MARIETTA 85 1,100 $233,603
ALPHARETTA 86 1,170 $241,356
JASPER 87 1,194 $244,070
WATKINSVILLE 88 1,215 $246,764
EVANS 89 1,216 $246,830
ATLANTA 90 1,286 $255,448
PEACHTREE CITY 91 1,342 $261,371
FORTSON 92 1,448 $280,262
CLEVELAND 93 1,507 $290,791
ROSWELL 94 1,524 $295,585
GAINESVILLE 95 1,527 $296,241
BLUE RIDGE 96 1,534 $298,446
DUNWOODY 97 1,823 $379,866

An interactive graphic summarizing the full results of the Coldwell Banker Home Listing Report is available on coldwellbanker.com. Full national data can be accessed on the Home Listing Report website, and additional state data can be found at http://hlr.coldwellbanker.com/us2011/georgia.html.

Put your best features forward to sell faster!

Let’s face it—the market is tough right now. If you’re selling your home, there are certain focal points that can give your property the selling edge it needs to draw in buyers, ensuring a faster sale—and a higher selling price. However, there is no need to build a pricey addition or completely gut your existing property. “By evaluating your home’s top selling points, you can add modern touches to these features to create a new, fresh feel without doing major renovations,” says Connie Ray, President/Owner of Coldwell Banker Platinum Partners.

Point 1: Glam up your bathroom and kitchen. Does your house have a large kitchen or multiple bathrooms? “Nice bathrooms and kitchens are attractive qualities in a house, and you can make yours look luxurious without going overboard,” explains Ray. If you can’t afford double sinks, a whirlpool tub or a walk-in shower in your bathroom, try making subtle adjustments. “Small tweaks, like a new mirror or updated lighting, can have a huge effect on the atmosphere of a room,” notes Ray. Expand the range of your kitchen by adding a center island with barstools, updating major appliances and giving a second thought to your countertops. “Slab countertops, especially granite, are really popular choices,” suggests Ray. “And as far as appliances go, stainless steel is the real deal.”

Point 2: Opt for wood. Does your home have large, open rooms? Make them appear even larger with the right flooring. “Hardwood floors are timeless, and one of the most common features requested by buyers,” says Ray. Consider ripping up old carpet and refinishing the wood beneath. Hardwood too expensive? “There are many synthetic alternatives that are nearly as appealing as hardwood, at a fraction of the cost” comments Ray.

Point 3: Organization is key. Do you have a ton of open wall space? Make the most of it with built-ins. “Buyers love built-in organizational systems, like entertainment credenzas or bookshelves.” Built-ins are relatively easy to have installed, and can give your home a unique edge. “Don’t forget about closets,” warns Ray. Expanding the closets in bedrooms and bathrooms, or adding a walk-in pantry in the kitchen, can add additional sparkle to your home.

Point 4: Don’t forget to landscape. Do you have a large yard? Maximize this space before putting your home up for sale. “Especially in the Spring season, the landscaping can have a huge effect on the length of time it stays on the market,” says Ray. Keep the grass neatly mowed and any gardens well tended. ”Adding a deck or patio is a great idea, but if your budget won’t allow it, simply place some outdoor furniture around the yard in small clusters, so buyers can imagine themselves spending time outside with family and friends.”

By singling out and focusing on the top selling points of your property, you can decide what renovations should be made to make the most of what you already have.

What is a Home Equity Loan?

Many people have heard the term “home equity loan,” but not everyone understands what it is, or how to use it. If used correctly and responsibly, a home equity loan can consolidate and ease your debt.

As you begin to pay back your mortgage, you own more of your house, and the bank owns less. This is called building equity—equity being the percentage of the house that you own. When taking out a home equity loan, you are using the equity you have built as collateral.

“Often people understand the general idea of a home equity loan, but they don’t know the benefits of using one,” says Connie Ray, President/Owner of Coldwell Banker Platinum Partners, who explains that taking out a home equity loan is often smarter for paying off debt than other types of borrowing. The interest you pay on a home equity loan is usually tax deductible, and if you have several debts, it is sensible to consolidate them into one home equity loan. “This is a smart move because the interest rates on home equity loans are often much lower than traditional loans,” Ray notes.

There are two different types of home equity loans. Fixed rate loans offer one, large payment to the borrower, which is then repaid over time at a fixed interest rate. On the opposite end, a home-equity line of credit (HELOC) is a variable-rate loan, in which borrowers are approved for a certain limit and can withdraw money, but with a lower, tax deductible interest rate than a traditional credit card.

“Both of these types of loans can be valuable tools for responsible borrowers,” says Ray. However, it is important to understand that a home equity loan can only be borrowed for a set amount of time, generally ranging from five to 15 years.

“Similar to dipping into the cash in your savings account at a time when you really need it, taking out a home equity loan allows you to pay off a high interest credit card, send your child to college or finally put that addition onto your house,” Ray says. “However, sometimes those who are unable to budget or curb spending and find themselves in debt will take out a home equity loan as a fast solution,” Ray warns. Be aware of the reason you need to take out the loan, and never take out a loan for more than the house is worth.

Tips for Repainting Your Home's Exterior

If you’re looking to sell your home, or are in the process of remodeling, a fresh coat of exterior paint can go a long way. However, with so many different products available, repainting can be a confusing—and exhausting—task to take on.

“Repainting your house can add instant curb appeal, making a home appear upgraded and well cared for,” says Connie Ray, President/Owner of Coldwell Banker Platinum Partners. “Picking the right type of paint for your home is vital—the wrong choice can be disastrous and end up creating more work for you. However, if you know what to look for, the process can be hassle free.”

The first step to repainting your house is preparation. “You can be armed with the best paint possible, but if you don’t properly prepare, the outcome can be horrible,” says Ray. Ray suggests scraping and sanding the loose paint off your home before power washing or bleach washing the entire exterior surface. “Don’t forget to wear gloves and protective clothing.”

Ray recommends that the second step to making sure your home-painting process runs smoothly is starting with a high-quality 100 percent acrylic latex paint. “Acrylic latex paint is durable and versatile, which makes it a good fit for wood, siding and masonry. Plus, it has UV protection which discourages fading and peeling.”

If your home’s exterior is made of wood, Ray suggests using a primer first to ensure that your paint adheres to your home with the best grip possible. “Acrylic latex paint is ideal for wood because wood tends to change over time, which means it needs a paint with a high level of elasticity that will expand and contract along with it as the weather changes,” says Ray.

If your house has aluminum or vinyl siding, no primer is needed. However, if you have a glossy siding, Ray suggests a latex bonding primer for best results. “Latex is extremely breathable, which means it allows moisture to pass through, dries quickly and requires no chemical solvents.” This makes your painting job much easier.

“On masonry, such as concrete or stucco, latex paint is superior because it prevents chalking and fading,” comments Ray. Do-it-yourself exterior painting has been extremely popular lately. “Arming yourself—and your home—with the right type of paint will make the process easier, and ensure a great final product that will give your home an extra edge and enable a faster sale,” says Ray.

Elizabeth Murphy Earns Associate Broker's License

Connie Farmer Ray, President and CEO of Coldwell Banker Platinum Partners announced today Elizabeth Murphy has earned her Real Estate Associate Broker's License.
"Elizabeth, who is a specialist in residential real estate, has been affiliated with Coldwell Banker Platinum Partners for five years," said Connie Farmer Ray, President and CEO at Coldwell Banker Platinum Partners. "Elizabeth continues to exhibit the highest professional standards. She is dedicated to providing her clients with the highest levels of support available."
In addition to her Associate Broker's License, Elizabeth has earned many honors, GRI-Graduate REALTOR Institute, ABR – Accredited Buyer’s Representation, SRES – Seniors Real Estate Specialist and LMC – Loss mitigation Certification.
Elizabeth Murphy currently resides in St Simons Island, Georgia, and can be reached at 912.222.3276 or elizabeth.murphy@coldwellbanker.com.

Patrick Ozanne Earns Associate Broker's License

Connie Farmer Ray, President and CEO of Coldwell Banker Platinum Partners announced today Patrick Ozanne has earned his Real Estate Associate Broker's License.
"Patrick, who is a specialist in St. Simons Island and Brunswick, Georgia residential home sales as well as Property Management, has been affiliated with Coldwell Banker Platinum Partners for seven years," said Connie Farmer Ray, President and CEO at Coldwell Banker Platinum Partners. "Patrick demonstrates the highest professional standards and a commitment to fulfilling the needs of his clients by providing the highest levels of support available."
In addition to his Associate Broker's License, Patrick has earned many honors including his Accredited Buyers Representative, Seller Representative Specialist, Certified Negotiation Specialist, Cartus Network Relocation Specialist and e-Pro Internet Professional designations from the National Association of Realtors.
Patrick Ozanne currently resides in St Simons Island, Georgia, and can be reached at 912.222.3144 or patrick.ozanne@coldwellbanker.com.

Top State Associates and Regional Office Recognitions!

Michael Cherry, Dee Dee Covington, Steffany Farmer, Jenny Hearn, Lyn McCuen, and Jeffrey Shaufleberger of Coldwell Banker Platinum Partners ranked in the Top 10 sales associates for the 1st quarter of 2011 in Georgia for the Coldwell Banker® franchise system.

Annette Bryant and Wendy Burchfield of Coldwell Banker Platinum Partners ranked in the Top 10 sales associates for the 1st quarter of 2011 in South Carolina for the Coldwell Banker® franchise system.

Coldwell Banker Platinum Partners Savannah office also ranked in three categories as a Top 10 office in the Southern Region by their office size: #2 Top Office Regionally in Selling Units, #6 Top Office Regionally in AGC and #6 Top Office Regionally in Total Units.

“Coldwell Banker Platinum Partners associates and offices exemplify the standards of excellence for which Coldwell Banker is known,” said Frank Lindsey, Southern Region director for Coldwell Banker Real Estate, LLC. “It is an honor to recognize the associates and offices with these exceptional awards.”

To contact these award winning agents, please call 800.505.8111 or visit MyCbpp.com.