Consumer
Reports magazine advises home owners not to put off
important maintenance projects, noting that waiting
until the economy rebounds could end up making the repairs
more costly while putting a family's health
at risk.
The magazine identifies five crucial maintenance issues:
Check the gutters: Clogged gutters, broken fasteners
and separations where the gutters meet the fascia board
will lead to roof leaks if they haven’t already.
Inspect the roof: Cracked, curled and mussing
shingles mean a roof is nearing the end of its useful
life. Cracks around chimneys, skylights, and roof valleys
can also suggest the roof might be leaking.
Look for bugs: Termites and carpenter ants can
bore through a home in a few short years. Probe the
sill plate on top of the foundation with a screwdriver
to check for rotten wood. Also look for carpenter ants
and termites along windowsills and walls.
Avoid mold: Mold and mildew can cause musty odors,
dank air, and make residents sick. Check under carpets
and around windows for visible mold or mildew.
Don’t ignore cracks: Foundation cracks wider
than 3/16 of an inch can be a problem. These require
examination by a structural engineer.
Source:
Consumer Reports (05/04/2009)
Real
Estate Vocabulary Builder:
Short Sale:
A short sale occurs when a property is sold and the lender
agrees to accept a discounted payoff, meaning the lender
will release the lien that is secured to the property
upon receipt of less money than is actually owed.
Foreclosure:
The process through which a lender redeems a property,
which is the security for a loan, usually when the borrower
defaults on any of the terms of the loan agreement. In
some states, the process of securing title is handled
through the court system (judicial foreclosure); other
states have a process through which the lender, or a third
party on behalf of a lender, sells the property (non-judicial
foreclosure).
If you would like to suggest a topic for comment in one
of our future emailers, please let me know. You can always
reach me at rory@coakleyrealty.com
or by phone (301) 340-8700 ext. 101. I look forward to
hearing from you!
Rory
S. Coakley
Coakley Realty, Inc.
20 Courthouse Square - Suite 106
Rockville, MD 20850
www.coakleyrealty.com
