A.  IN GENERAL, A HOME APPRAISER DETERMINES THE VALUE OF A PROPERTY AND A HOME INSPECTOR DETERMINES THE CONDITION OF A STRUCTURE.  WHILE APPRAISALS ARE PRIMARILY FOR LENDERS, THEY ALSO ENSURE THAT BUYERS DON'T OVERPAY FOR A PROPERTY.  HOME INSPECTIONS ARE FOR BUYERS.

A HOME APPRAISAL INCLUDES DETAILS ABOUT THE HOUSE, A DESCRIPTION OF THE NEIGHBORHOOD AND SIDE-BY-SIDE COMPARISONS OF SIMILAR PROPERTIES.  IT ALSO CONTAINS AN EVALUATION OF THE AREA'S REAL ESTATE MARKET, AND NOTATIONS OF MAJOR PROBLEMS WITH THE PROPERTY THAT WILL AFFECT ITS VALUE.  YOU SHOULD HAVE YOUR LENDER ORDER THE APPRAISAL, AND YOU ARE ENTITLED BY LAW TO GET A COPY OF IT.

A HOME INSPECTION IS AN EVALUATION OF A HOME'S CONDITION THAT MAY IDENTIFY IMPROPER BUILDING PRACTICES OR THE NEED FOR MAJOR REPAIRS, AS WELL AS FIRE, SAFETY AND HEALTH HAZARDS.  YOU SHOULD ALWAYS INCLUDE AN INSPECTION CONTINGENCY IN YOUR PURCHASE OFFER.  THE INFORMATION WILL HELP YOU DETERMINE HOW MUCH YOU'RE WILLING TO PAY FOR A HOME, WHAT REPAIRS WILL BE NECESSARY AND WHETHER OR NOT YOU WANT TO WALK AWAY FROM THE DEAL.  WE RECOMMEND HAVING A HOME INSPECTION DONE EVEN WHEN PURCHASING NEW CONSTRUCTION!

SO PRICING YOUR HOME RIGHT THE FIRST TIME SELLER'S, WILL SAVE EVERYONE BOTH TIME AND MONEY...  GIVE US A CALL TODAY FOR A FREE CMA EVALUATION AND OUR RECOMMENDATIONS FOR HOME INSPECTORS!

A.  If you don't know where to turn for reliable answers or need to sort through your options, turn to these experts for advice:

1. Your REALTOR® can determine the current value of your home and review your options if you owe more than the home is worth.  Knowledgeable agents can also explain more about government programs available today.
2. A Foreclosure Counselor will help you evaluate your current financial situation by reviewing your monthly expenses and income.  They can also identify assistance programs and serve as an advocate with your bank, free of charge.
3. A Tax Expert may be needed if you decide to do a short sale or deed in lieu of foreclosure as forgiveness of debt is sometimes considered taxable income.
4. A Credit Counselor can help develop a plan to avoid future financial difficulty and work to repair your credit score if you've already missed payments.
5. An Attorney can help if your lender has filed a foreclosure lawsuit.  They can review the lender's paperwork and see if the loan servicing company made a mistake in applying payments or assessing fees.

If you have any other questions, or need capable and trustworthy representation, please call Joy at 704-241-8831 or Chelci at 704-605-9546 today...  Thank you for the question!

A.  ACCORDING TO A POLL OF BUILDERS AND DEVELOPERS FOR CBS MONEYWATCH BY THE NATIONAL ASSOCIATION OF THE REMODELING INDUSTRY, THE OVERALL TREND IS TO TAKE ON SMALL PROJECTS WHILE YOU WAIT TO DO THE REALLY BIG ONES.  HERE ARE SOME SPECIFIC TRENDS TO WATCH IF YOU'RE REMODELING SOON:

• UPDATING BATHROOMS.  IT'S CHEAPER THAN DOING A KITCHEN BUT YOU NEED TO KEEP A CLOSE EYE ON YOUR BUDGET.
• WARMING UP THE HOUSE WITH EARTH TONES AND METALLIC FEATURES, SUCH AS AGED BRONZE OR DISTRESSED HARDWARE.
• OPENING UP ROOMS.  MORE PEOPLE ARE TAKING DOWN INTERIOR WALLS AND OPENING UP SPACES IN OLDER HOMES.
• GOING GREEN.  THE FOCUS IS ON ENERGY-EFFICIENT UPGRADES.
• PAYING IN CASH.  INSTEAD OF TAKING OUT A LOAN, PEOPLE ARE PICKING AND CHOOSING WHAT THEY CAN DO WITH THE CASH THEY HAVE.
• HIRING GOOD CONTRACTORS.  ASKING QUESTIONS AND BEING MORE DILIGENT ABOUT CHOOSING QUALITY CONTRACTORS IS ON THE RISE.
• SPENDING TIME OUTSIDE.  THE TREND IS TO FIX UP OUTDOOR SPACES WITH A DECK AND LANDSCAPING.

REMEMBER, IF YOU ARE LOOKING TO SELL YOUR HOME ANYTIME SOON, PLEASE GIVE US A CALL...  WE WOULD LOVE THE OPPORTUNITY TO ASSIST YOU!

A.  HERE ARE SOME OF THE FEATURES YOU SHOULD LOOK FOR, ACCORDING TO THE NATIONAL ASSOCIATION OF HOME BUILDERS (NAHB):

ENERGY-EFFICIENT.  LOOK FOR APPLIANCES, WINDOWS AND WATER HEATING SYSTEMS WITH ENERGY STAR® RATINGS AND EFFICIENT LIGHTING FIXTURES AND BULBS.  RENEWABLE ENERGY SOURCES FURTHER DECREASE ENERGY CONSUMPTION IN THE HOME.

WATER-EFFICIENT.  LOOK FOR PROGRAMMED, LOW-VOLUME IRRIGATION SYSTEMS, RAINWATER COLLECTION SYSTEMS, WASTEWATER TREATMENT SYSTEMS AND HOT WATER RECIRCULATION SYSTEMS.

RESOURCE-EFFICIENT.  THE HOME SHOULD USE STRATEGIES TO REDUCE HEAT GAIN IN THE SUMMER AND HEAT LOSS IN THE WINTER.  IT SHOULD CONTAIN RENEWABLE MATERIALS AND RECYCLED-CONTENT MATERIALS IN CARPETS, TILES AND CONCRETE FORMULATIONS.

INDOOR AIR QUALITY.  THE HEATING, AIR CONDITIONING AND VENTILATION SYSTEM MUST BE APPROPRIATELY SIZED.  LOOK FOR LOW-VOC (VOLATILE ORGANIC COMPOUNDS) PAINTS AND FINISHES.

TO ENSURE THE HOME IS "GREEN", LOOK FOR THE GREEN CERTIFIED MARK ISSUED BY THE NAHB RESEARCH CENTER.

THANKS FOR THE QUESTION!

A.  THE INSURANCE INFORMATION INSTITUTE RECOMMENDS THE FOLLOWING:

• IT'S A GOOD IDEA TO INSURE YOUR HOME FOR THE COST OF REBUILDING IT.  CHECK YOUR HOMEOWNER'S POLICY TO SEE THE MAXIMUM AMOUNT YOUR INSURANCE COMPANY WOULD PAY IF IT HAD TO BE REBUILT.
• FIND OUT WHAT IT WOULD COST TO REBUILD YOUR HOME.  YOUR INSURANCE AGENT CAN CALCULATE REBUILDING COSTS FOR YOU OR YOU CAN HIRE AN APPRAISER (CALL OR EMAIL US FOR REFERENCES).  MAKE SURE YOUR INSURANCE AGENT KNOWS ABOUT ALL IMPROVEMENTS YOU'VE MADE, SUCH AS A DECK OR LARGER KITCHEN.
• MAKE SURE THE VALUE OF YOUR POLICY IS KEEPING UP WITH INCREASES IN LOCAL BUILDING COSTS.  MANY POLICIES INCLUDE AN INFLATION GUARD; IF YOURS DOESN'T, CONSIDER PURCHASING ONE.
• FIND OUT IF YOU HAVE A "REPLACEMENT COST" POLICY FOR YOUR HOUSE.  IF YOU OWN AN OLDER HOME, YOU MAY HAVE A "MODIFIED REPLACEMENT COST" POLICY. 
• FOR THE CONTENTS OF YOUR HOME - FIND OUT WHETHER YOU HAVE "REPLACEMENT COST" OR "ACTUAL CASH VALUE" INSURANCE.
• CHECK THE LIMITS ON CERTAIN PERSONAL POSSESSIONS, SUCH AS JEWELRY.  CONSIDER BUYING AN "ENDORSEMENT" TO INSURE VALUABLES SEPARATELY.

GREAT QUESTION, AND THANKS FOR WRITING! 

A.  Most parts of the country and Canada face at least one type of natural disaster, such as severe winter weather, high winds, hurricanes, flooding, earthquakes, wildfires and hailstorms.

According to the Institute for Business & Home Safety, the first thing you need to do is understand your risk.  Is your house located near a woodland area?  Is it within 50 miles of the coast?  Is it within sight of a river or lake?  Is it located in an earthquake zone?

You also need to consider the home's history and how well it has been maintained.  What year was it built and what was the building code then?  Modern building codes can help homes stand up better to natural disasters.

In areas prone to wildfires or hurricanes, for example, your number one priority should be the roof.  You can find specific actions to take to improve your home's ability to withstand these disasters by going to a site like www.disastersafety.org.

A.  Good landscaping can increase your home's resale value by 14%, according to the Associated Landscape Contractors of America.  Better curb appeal may speed up the sale by as much as six weeks.

Professionals recommend that you invest 10% of your home's value in landscaping.  More than just plantings, this includes structural features such as lighting, outdoor rooms, fences and pools.  Here are some helpful tips:

• Determine what you need.  Are you landscaping to sell your home or to enjoy the property yourself for the longer term.

• Get professional guidance.  Depending on the scope of your project and budget, consider hiring an arborist, a landscape designer or a certified landscape architect.  Ask friends for recommendations or search web sites such as the one for The American Society of Landscape Architects.

• Develop a plan.  Set your priorities - what needs to be done (have you solved that drainage problem?) versus what you'd like to do (put in an outdoor entertainment area).  If you take a piecemeal approach, the result will look disorganized and cost you more money in the long run.

A.  There are advantages and disadvantages to buying a foreclosed home.  Here are some general tips:

• See the house in person.  Don't rely on a low price and internet pictures.
• Conduct a title search.  Find out whether it has a second mortgage or a lien on it.
• Get an up-to-date inspection.  Conditions change and older inspections probably no longer apply.
• Budget for repairs and renovations.  Chances are the longer the house has been vacant, the more problems there may be.
• Study the neighborhood.  Is the house in a crime area or surrounded by other foreclosures?
• Get expert help.  Work with a real estate agent who is experienced in foreclosures.

Give us a call today with any additional questions you have about today's foreclosure market...  We would love the opportunity to provide you with our guidance and expertise!  Thanks for the question...  -Joy and Chelci