Home Mortgage Changes to Know In 2014

For more information contact Louis Eisenberg, Prudential Towne Realty, 109 E. Main Street, Norfolk, VA 23510, 757-572-7244, leisenberg@prudentialtownerealty.com, www.LouisEisenberg.com

What Drives Home Mortgage Interest Rates

Infographic Courtesy of Vantage Productions LLC

5 Household Delimmas You Can Solve On Your Own

NORFOLK, VA, Mar 04, 2014—While a house doesn't come with an owner's manual, there are several things you can do to stay on top of, and ahead of, your home. Knowing how to handle small maintenance fixes will save you stress and money,” says Louis Eisenberg, Associate Broker REALTOR ABR SFR of Prudential Towne Realty. Save your dollars for when it's really time to call in a professional. In order to feel confident handling simple maintenance tasks, read through the following tips and tricks.:

1. Open the garage door when the power is out. Need to leave the house in a power outage? Pull on that red cord dangling from the ceiling-mounted operator. “This disengages the chain drive, allowing you to manually slide the door up its track,” explains Eisenberg.

2. Remove the base of a broken light bulb. Accidentally break a lightbulb while it's still screwed into your lamp? No need to panic, as long as you have a potato in the pantry. Take a raw potato, cut it in half, and press the sliced end onto the jagged glass. Then, simply unscrew. This is also a great party trick.

3. Learn how to locate a stud. Trying to hang a heavy mirror? Nothing is worse than ripping a hole in your drywall. Many people know how to rap on walls to locate a stud. But there is a systematical approach, as well. “The majority of studs are placed at 16-inch intervals, so once you knuckle one out, you can usually find the others,” explains Eisenberg.

4. Remedy a seized lock. Can't jiggle your keys in the door any longer? Don't worry - your spouse didn't change the locks. Chances are, your lock is seized. Instead of calling a locksmith who will hand you a hefty bill, head to the drug store and arm yourself with WD-40. “Spray some into the lock to get the gears moving again,” suggests Eisenberg.

5. Unclog a sink. No, not with a chemical pour, which really only burns a hole in the blockage. To really clear out a block, you need to clear out the mechanism. To do so, remove the stopper and block off overflow holes. Then, notes Eisenberg, run water into the sink and as the water runs, plunge the hole with a plunger. Not enough? Get yourself a hand snake and push the coil down the drain to clear out the block.

Know when to hire a handyman. You can only DIY so often. “Know when it's time to bring in the professionals – anything involving electricity or wiring is usually a good time for the real deal,” says Eisenberg.

For more real estate information, please contact Louis Eisenberg, Prudential Towne Realty, 109 E. Main Street, Norfolk, VA 23510, leisenberg@prudentialtownerealty.com, (757) 572-7244, or www.LouisEisenberg.com

What To Do About A Neighbors Tree

For more Real Estate Information Contact: Louis Eisenberg, Prudential Towne Realty, 109 E. Main Street, Norfolk, VA 23510, 757-572-7244, leisenberg@prudentialtownerealty.com, www.LouisEisenberg.com

5 Tips for Creating An Outdoor Space

NORFOLK, VA, Feb 27, 2014—With Spring somewhere on the horizon, many homeowners are beginning to dream of warmer weather, and accompanying home improvement projects. Whether you want to up your home value for sale, or are just looking to luxuriate outdoors this year, you may be thinking about creating an outdoor living space.

“From outdoor sitting areas to full-on kitchens, outdoor living spaces are becoming increasingly popular home additions,” says Louis Eisenberg, Associate Broker REALTOR ABR SFR of Prudential Towne Realty. Below are five tips for planning your ideal outdoor living space.
1. Tour similar spaces. If you think you want a livable outdoor space, visit other homes with similar spaces for ideas about what you would and wouldn't like. “Luckily, with Internet access being what it is these days, you can get thousands of ideas from the web,” explains Eisenberg. But you shouldn't stop there, Eisenberg notes. “Try and do in-person research as well.” Have a friend or neighbor with a covetable deck or bath house? Invite yourself over to check it out in detail.
2. Plan ahead. Take your time while planning your outdoor space, and think about how you can best compliment your interior design. Find the right contractor, if you're using one, and take time to consider the cost effectiveness of your materials. “You should never rush a building project,” says Eisenberg. “You will hardly ever be happy with the results.”
“How will your new deck affect your inside spaces?” Eisenberg asks. “From darkening a room with a covered deck, to changing the view of the yard from the bedroom, don't forget to figure out all of the logistics before you begin building,” says Eisenberg.
3. Think about water access. Outdoor living spaces need to be weatherized, winterized and water-proofed, Eisenberg reminds us. “This may seem like a no brainer, but if done wrong, it can lead to costly repairs down the road,” explains Eisenberg.
4. Bring in a professional. If you're new to landscaping and home design, bring in a professional to give you advice, even if it's just a one-time consultation. “A professional designer can give you advice about things you may be overlooking, so it's important to get that expert opinion before you finalize your plans or break ground,” Eisenberg notes.
5. Do your research. Are those deck railings you're interested in up to code in your county? What are the laws about open pool plans in your area? “As building codes vary by location, before you open your wallet, make sure your plans are up to code,” warns Eisenberg.
For more information creating an outdoor space, please contact Louis Eisenberg, Prudential Towne Realty, leisenberg@prudentialtownerealty.com, 757-572-7244, or www.LouisEisenberg.com

Contracting Your Home Contractor

NORFOLK, VA, Feb 26, 2014—Choosing a contractor for your home building or remodeling can be a big decision. In order to choose the right bid, it's important to be educated, says Louis Eisenberg, Associate Broker REALTOR ABR SFR of Prudential Towne Realty. It's a good idea to shop aggressively for the most reasonable bid, not necessarily the cheapest. “Inexpensive, but shoddy, work will only cost you more money in the long run,” Eisenberg reminds us.

However, once you've chosen who to go with, the decision making doesn't stop there – you still have to draft a contract. Many things should be covered in a contractor's contract, and not all contracts are outlined the same, says Eisenberg.

According to the National Association of the Remodeling Industry, a well-written contract should contain the following information:

• The contractor’s name, address, telephone and license number, if applicable
• Details about what will and will not be done
• A detailed list of materials for the project, including model, brand name and color
• The approximate start date and substantial completion dates
• A written notice of your right to cancel a contract within three business days of signing, without penalty – provided the contract was solicited at some place other than the contractor’s place of business or appropriate trade premise
• Financial terms that are spelled out clearly, including payment schedules and any cancellation penalties
• A one-year minimum warranty identified as either “full” or “limited” to cover materials and workmanship, as well as the name and address of the party who will honor the warranty
• A binding arbitration clause, in the event a disagreement occurs

“You may also want to include a statement that you will not be responsible if payment to the contractors’ subcontractors and suppliers are not made,” suggests Eisenberg. Another tip? Eisenberg says you should consider establishing that the contractor should obtain all the necessary permits. In order to cover your bases, it's also smart to have your contractor fill in all blank spots in the contract with phrases like “does not apply.”


For more real estate information, please contact Louis Eisenberg, Prudential Towne Realty, 109 E. Main Street, Norfolk, VA 23510, leisenberg@prudentialtownerealty.com, 757-572-7244, or www.LouisEisenberg.com

Number of DIstressed Properties Declining

Distressed Properties ( Short Sales and Foreclosures) have declined from 35% of existing home sales in January of 2012 to just 14% of existing home sales in January 2014.For more information on distressed properties contact Louis Eisenberg, Prudential Towne Realty, 109 E. Main Street, Norfolk, VA, 757-572-7244, leisenberg@prudentialtownerealty.com, www.LouisEisenberg.com