1. Sight:  Decorate!  Not too much, this would be a great time to consult with a home staging specialist so you don’t over do the decorations.  You want to celebrate the seasons not hide your house behind walls of icicle lights! (p.s. leave the  blow up lawn ornaments in the garage!!!)

2. Sound: Christmas music is a joyous thing!  People love it…it makes (most) people feel happy…to really help buyers  connect with your home stick to traditional carols or instrumental holiday music…

3. Smell: Invest in a $6.oo can of mulling spices and heat them in water on the stove 30 minutes before a showing! 

4. Touch: Add soft fabrics to table tops to tempt the buyer to feel the softness (velvets, silks, suedes) and use thick, fluffy hand towels in the bathroom & kitchen to illict a feeling of a warm welcome home.

5. Taste: Rather than just simmer your mulling spices in water, go ahead and make mulled apple cider…offer the buyers a warm mouth watering treat for when they come in from the cold!  Add some sugar cookies or ginger chews to the menu as well (even store bought works great)!

If you follow these tips for the holiday sellign season you are sure to give your home the exposure it deserves…and perhaps a christmas sale for you!

I know you’ve heard it a thousand times already that the higher your credit score is the better interest rate you will be able to get on your mortgage. I myself wrote in an earlier post titled: ‘Let’s Talk Credit: Part 2′ ~in which I stated that:

“If your mortgage broker advises you to take 6 months to work on raising your credit score then take six months to fix your credit. The better rate is worth the wait!”

The problem is that when talking percentage rates a lot of buyers do not translate that percent difference in to dollars and therefore it doesn’t seem like that big of an amount. Even then if you translate it in to dollars for the buyer most mortgage brokers & even some real estate agents tend not to elaborate any further than that. If the buyer is happy, everyone’s happy and the deal is on, end of story.

Well, not quite! Since we have already established that a lower score=a higher interest rate let take a look at the following scenario:

3 Buyers all fall in love with a home on Turkey Lane in Falmouth, Maine that is listed for $360,000. All three buyers go to their mortgage brokers to get approved for a 30 year mortgage to buy the property. Here is what they will pay depending upon their credit scores.

Buyer A:
Credit Score: Above 760 APR: 5.8% Monthly Payments: $1,760
Total Payments Over the Life of the Loan: $633,600
Buyer B:
Credit Score: 620-719 APR: 6.020-7.120% Monthly Payments: $1,803-$2,019
Total Payments Over the Life of the Loan: $649,080-$726,840
Buyer C:
Credit Score: Below 620 APR: 8.531-9.289% Monthly Payments: $2,511-$2,739
Total Payments Over the Life of the Loan: $903,960-$983,160

To briefly summarize: Still assuming a purchase price of $360,000. A borrower who increases their score from 620-720 can potentially save $884 a month on mortgage payments, $10,608 per year on mortgage payments and as much as $318,329 over the life of a 30 year loan.  Now you know why it’s important to wait!

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Another common marketing ploy of lenders is listing a low interest rate in bold type and in the teeny tiny print at the bottom of the ad it will state that points are being charged get that rate, that fine print is the APR.

All Lenders are required to by law to state the real cost for financing through the APR (annual percentage rate) each time an interest rate is quoted in advertising. The APR takes in to account ALL fees associated with the loan, and is usually listed in fine print as a disclaimer.

For example: You see an ad for a offering a 5% fixed interest rate for 30 years. However, when you read the fine print of the APR you notice that in order to get that 5% interest rate the buyer must pay 2 points. You should know in advance that 1 point =1% of the contract price of the home being purchased. So if you buy a home for $200,000 each point is $2,000. So you may be able to get that very attractive interest rate, but only if you pay the points. On a $200,000 house that is $4,000 out of YOUR pocket to get that rate. That certainly changes that attractiveness of the offer doesn’t it?

While it can be helpful to shop by APR not all lenders calculate APR in the same way and therefore it is not a foolproof way to compare interest rates.

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In the Beginning

If you’ve thought about remodeling a home that was built before 1980, you’ll probably be faced with a number of toxic materials during the process, not the least of which will be asbestos. Asbestos insulation was used in millions of homes during the housing boom of the 20^th century and though it’s safe to be around when it’s enclosed or in good condition, damaged asbestos can be a real problem. It can cause mesothelioma, a deadly cancer for which treatment is limited and many forms can result such as malignant mesothelioma. In addition, removing it in order to replace it with a healthy alternative can be a pain as well – it needs to be removed by a licensed professional – but the end result is well worth the time and expense.

Asbestos Removal

Nonregulated asbestos material can be legally performed by homeowners, regular contractors, or licensed asbestos abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants (NESHAP) are not violated.

The health risks involved in handling non regulated asbestos materials is small but the removal should be done in a manner that will minimize the release of fibers due to breakage. It is recommended, because breakage in inevitable, that one wears asbestos related safety equipment including a disposable tyvek suit, gloves and must be medically able to wear a half mask respirator with High Efficiency Particulate Air (HEPA) filters, and adhere to the principles of wet removal and without visible emissions.

Removal in workplaces, schools and public facilities must be done by a licensed asbestos abatement contractor.

Disposal

The best way to dispose of asbestos is to bury it or any way that will prevent it from becoming airborne.

Service area landfills will often accept large amounts of asbestos provided it is properly contained or shipped in bulk.

Clean ways to Insulate

Building Green

Most individuals give little thought to what’s being consumed when they turn on their lights or fire up their furnace. Few workers pay attention to whether or not they’ve turned the air conditioning off when they leave their office building or whether they left the faucets dripping in the company washroom.

In a world where electricity is expected at the flick of a switch and where water rarely fails to flow from the bathtub or shower, the Green Building Resource Center estimates that in the U.S., buildings account for:

• 36% of total energy use
• 65% of electricity consumption
• 30% of greenhouse gas emissions
• 30% of raw materials use
• 30% of waste output (equal to 136 million tons annually)
• 12% of potable water consumption

So many buildings. So much waste. And with the building boom continuing, despite present economic hardships, adherence to construction practices other than what’s become known as “green building” will surely continue to increase the proverbial “carbon footprint.”

Benefits of Green Construction

Thankfully, however, the idea of “building green” is gradually becoming much more than a trend. Builders and investors are recognizing that eco-friendly construction provides not only long-term positive environmental benefits but also immediate financial payoffs as well.

Cities throughout the U.S. and the world are also slowly recognizing the necessity of green construction practices in the remodeling and renovating of older residential and commercial facilities, taking advantage of loans offered to them by various foundations, designated for the purpose of upgrading lighting and heating and cooling systems in aging buildings, where the most energy is consumed.

Such initiatives also prompt the need for healthier and more cost-efficient options in the world of building materials. Indeed, the United Nations Environmental Program says that the use of recycled building materials, like cotton fiber insulation, in addition to the installation of energy saving appliances and the maximization of natural lighting in a building, can reduce energy use energy use by 25 to 35 percent. In some best-case scenarios, they say, results have been as high as 80 percent.

The United States Green Building Council (USGBC), in a study conducted in 2003, estimated a savings of $50-$65 per square foot for well-constructed green buildings in the U.S. (see table below) during that year. The numbers continue to improve as more eco-friendly options become available, and those kinds of figures have finally begun to attract those who thought eco-friendly construction was just a bunch of hogwash.

Source: USGBC Capital E Analysis, 2003.

Green Remodeling

While the remodeling of existing older buildings to make them more energy efficient is certainly a necessity, it doesn’t come without its hazards. Remember, older homes and commercial buildings probably contain all sorts of toxins, most notably asbestos. The miracle of the 20^th century building industry, touted for its amazing heat- and fire-resistant properties, this hazardous mineral can be found in attics, wrapped around pipes and furnaces, and even in walls, floors, and ceilings, especially in buildings constructed prior to 1980.

Once the asbestos is addressed and then removed by a licensed professional and disposed of properly, green insulation options should be given serious consideration. The Department of Energy says heating and cooling accounts for 50-70 percent of the energy used in the average American home so finding sound and healthy insulation options are a necessity. Today, these options can save natural resources as well. Eco-friendly insulations are often made of recycled materials and include cellulose (old shredded newspapers treated for fire resistance), cotton fiber (usually made of recycled batted denim), and spray polyurethane foam.

Statistics show that the foam, for example, can cut energy costs by about 35 percent annually, according to studies done by manufacturers. The other projects claim similar figures. And because these are recycled materials, less waste is going to the nation’s already crowded landfills.

Formal listing of Insulation Alternatives

• Cotton fiber – This has become the favored insulation of many green builders or remodelers. Made of recycled batted material, such as denim, this fiber insulation is then treated with a chemical to make it fireproof.  However, cotton fiber insulation is non-toxic and produces no off-gasses, making it a healthy choice.
• Cellulose – Who would have believed that someday we’d be insulating our homes with recycled newsprint? Well, that’s exactly what cellulose is and it’s become one of the most popular new green insulating materials. Chemically treated to reduce mold and promote heat and fire resistance, figures show that cellulose can reduce air conditioning and heating bills up to about 20 percent each year.
• Icynene – This water-based spray polyurethane foam keeps a home very tight, allowing little opportunity for things like mold to form. This healthy insulation also contains no polybrominated diphenyl ethers (PBDE), which are often found in spray foam insulation products. PBDEs can be quite toxic and are already banned in some states. Icynene also contains no hydrochlorofluorocarbons, which are believed to prompt global warming.

This article was provided by:
Jesse Herman
Mesothelioma Cancer Center
jesse@asbestos.com

If you are seriously considering purchasing a waterfront property in the State of Maine this is a MUST READ booklet that tells you in detail what you can and cannot do with your new property.

It is important to note that individual municipalities have the right to impose more stringent guidelines than those set forth in this manual, so before you purchase a home call the code enforcement office of the town the property is located in and ask them if they have further requirements for shoreland zoning above and beyond those set by the State & Federal Government. To view & print your own copies of this handbook click on the following link.

MaineShorelandZoning: A Handbook for Home Owners

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in Portland Maine and the rest of Cumberland County

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1. What is Considered a Shoreland Zone

• 250 feet of the normal high-water line of any natural pond over 10 acres, any river that drains at least 25 square miles, and all tidal waters and saltwater marshes
• 250 feet of a freshwater wetland over 10 acres (except “forested” wetlands); and
• 75 feet of a stream. Only outlet streams of great ponds, and streams below the confluence of two perennial streams depicted on a USGS topographic map are required to be zoned.

2. Districts Identified in Shoreland Zones: There are 6 different districts identified under the shoreland zoning act. Refer to the towns shoreland zoning map to see which district the property you wish to buy is in so you know which rules apply. (for the purpose of this post most of the information will refer to residential dwellings).

3. Setback Requirements
The setback is a horizontal measurement taken from the high waterline of the body of water in question to the upland edge of the lot

• Great Ponds and Rivers Flowing into Great Ponds= 100 feet
• All Other Waterfront=75 feet

4.Expansion: A non-conforming structure that existed prior to January 1 1989 may be expanded up to 30% in its lifetime but the expansion will be based on the floor area and or volume of the structure that existed on January 1, 1989. Also if only part of the dwelling is in the setback area that 30% applies only to that part of dwelling.

5. Current Residential Lot Size Standards
Tidal Water:
30,000sq.ft. and 150 feet of Waterfrontage
Inland Water:
40,000sq.ft. and 200 feet of Waterfrontage

6. Height Requirement
No dwelling may exceed 35 feet measure in a shoreland zone (this distance is measured from the downhill slope of the property to the roof line)

7. Lot Development
The total area to be developed (including house, garage, driveways and paths etc…) may not exceed 20% of the total area of the lot.

8. Other Consideration: There can not be any expansion towards the water if the structure is already within the setback or if the proposed addition would infringe on the setback requirement.

9. A Basement can usually be added and as long as it doesn’t raise the dwelling more than 3 feet it doesn’t count towards the 30% expansion.

10. Elevation: The lowest level of all buildings must be at least 1 foot above the 100 year flood plain as identified in the towns flood plain maps.

All the information needed to discover any of the above information can be gathered from the local town office and the code enforcement officer of the town a property is located in. The code enforcement officer will be the person who evaluates the property and tells you what can and can’t be done legally to expand. Heavy fines will be levied on people who break shoreland zoning laws so making sure your information is up to date and accurate is VERY important!

If you are thinking of buying a waterfront home in Maine and would like to work with a knowledgeable and experience waterfront specialist contact me today!

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If you want to give your self a true home buyer advantage, find a buyers agent before you start looking for a home…let the agent do the foot work and ask the questions…you owe it to yourself to get the best deal possible on your next home, it doesn’t cost you anything to hire a buyer agent so get one first and feel better that the agent you work with isn’t focused on lining someone elses pockets with your money!

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