Home Maintenance
How to Declutter for the New Year!
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Buying a generator: Tips to know before you make a purchase
After Hurricane Irma, much of Florida lost power. And during Hurricane Maria, all of Puerto Rico is in the dark.
The one-two punch of storms reminded Floridians of the importance of owning a generator. If you’re shopping for a power source, here are factors to consider:
How much do you want to spend?
Stand-by generators can power your whole house and usually run on natural gas or propane. They typically cost $5,000 to $10,000, according to Consumer Reports. And you’ll need to start planning the installation months in advance. Most homeowners opt for portable generators, which usually won’t run central AC and cost $400 to $1,000. (However, Consumer Reports’ top-rated portable generator is a Honda that goes for $3,999.)
What do you want to power?
If you want to run a fridge, a fan and a few lights, a small portable generator will do the job. If you hope to keep living as if the hurricane never hit, you’ll need a stationary generator. And if you’re willing to rough it but would like to run a window AC unit, you’ll want to make sure before the storm that your generator has enough juice to run your AC. Another caveat: Cheap generators can produce power surges that will fry expensive electronics.
How much noise can you stand?
Or, put another way, how many decibels do you want to bombard your neighbors with? In general, the more expensive the generator, the quieter it is.
Technology is getting better.
For decades, Floridians have been buying portable generators that were the mechanical equivalent of muscle cars, says Paul Hope of Consumer Reports. Now, though, manufacturers are designing fuel-injected engines for generators. These models are quieter, more fuel-efficient and emit less carbon monoxide. They’re also more expensive.
The smart move, says Hope, is to shop for a generator between storms or after hurricane season. That gives you time to research what you need — and to hire an electrician to install a transfer switch or interlock device that lets the generator power your house.
Spring Cleaning Guide from Optima Properties
Do not read this list and become overwhelmed, it is an extensive list meant to cover basic home maintenance. Not all of these maintenance items will apply to all homes. This is a comprehensive guideline designed for homes in the South as well as Northern climates.
Spring cleaning is a way to demonstrate pride in ownership (or rentership). A home and its contents are investments; money spent on something you really love or really need (ideally both). When you take the time to clean thoroughly and properly, you can maintain and prolong the life of the item or finish for years. Further, it means you live in a cleaner and healthier home; less dust, dust mites, allergens, odors, and dirt.
Always start from the top and work your way down. Think about it like this: dust falls down (like rain or snow) so if you start at the top, you’ll never have to re-clean a surface (which is a time waster). It doesn’t make sense to clean the floors first and then dust the tabletops; you’ll just have to clean the floors again. Use gravity to your benefit and always work from top to bottom. It also helps you not miss anything!
General Spring Cleaning Tasks:
These are a list of some of the things that need to be done around the house, and spring is a great time to do them. So often we don’t remember to do them, so let this be your wake-up call!
Tests and replacements:
Test smoke alarm
Test carbon monoxide alarm
Check flashlight batteries
Check fire extinguishers
Change air filters
Check all window screens for tears and repair or replace as required
Overall Spring Cleaning Chores:
Remove fingerprints and dirt from light switches and door handles
Spring Clean Outside:
Managing the post-storm insurance claims process
Florida, Georgia and North Carolina residents affected by Hurricane Matthew will begin surveying damages to their property and belongings.
Florida Chief Financial Officer Jeff Atwater and Insurance Commissioner David Altmaier put together the following tips to help Floridians begin the process of filing insurance claims for damaged property and belongings and this may prove useful to residents in other states as well:
Tip 1: Locate all applicable insurance policies. This may include a homeowners’ policy, flood policy (flood coverage is not covered under a typical homeowners’ policy and is separate coverage), and an automobile policy (may cover damage to your car from flooding).
Tip 2: Document all damaged property and belongings. Take photos or shoot video footage before attempting any temporary repairs. When you file an insurance claim, you may be asked for visual documentation of damages.
A photographic home inventory is a handy resource for this situation. A free smartphone app developed by the National Association of Insurance Commissioners called “MyHome Scr.APP.book” can help you take and store a room-by-room log of photos.
Tip 3: Contact your insurance company or insurance agent as soon as possible to report damages.Insurance policies require prompt reporting of claims, so it is important to act as soon as possible.
Tip 4: Cover damaged areas exposed to the elements to prevent further damage. Your insurance company may reimburse the expense of these temporary repairs, so keep all receipts.
Do not dispose of any damaged personal property until your insurance company adjuster has had an opportunity to survey it.
Florida consumers who have questions about their insurance coverage are encouraged to call CFO Atwater’s Department of Financial Services, Division of Consumer Services’ Insurance Helpline. Helpline experts can be reached by calling 1-877-MY-FL-CFO (1- 877-693-5236), or online at: myfloridacfo.com/hurricanematthew.
Prepare for Hurricane Matthew’s Aftermath
As Hurricane Matthew churns through the Atlantic with a possible landfall in Florida, the Property Casualty Insurers Association of America (PCI) urged property owners to take some basic precautions to protect themselves and their belongings.
“With the potential for Hurricane Matthew to hit somewhere along the East Coast, the Governor has issued a state of emergency for all 67 counties in Florida,” says Logan McFaddin, PCI Florida regional manager. “This caliber of a system could bring major flooding and damages along Florida’s East Coast.”
In addition to making sure residents have emergency kits and plans ready, PCI urges residents and business owners to take precautionary measures to prevent damage to vulnerable property. Flooding from storm surge during hurricanes and tropical storms can be especially dangerous for residents along the coast and further inland. PCI recommends that homeowners who sustain damage report it as early as possible to their insurance company.
McFaddin says flood insurance is advisable, but “there is typically a 30-day waiting period between the date of purchase and when flood coverage will go into effect.”
PCI hurricane precautions
Review your property insurance policy, especially the “declarations” page, and check whether your policy pays replacement costs or actual cash value for a covered loss.
Inventory household items, and photograph or videotape them for further documentation. Keep this information and insurance policies in a safe place.
Keep the name, address and claims-reporting telephone number of your insurer and agent in a safe and easily accessible place.
Protect your property by covering all windows with plywood or shutters, moving vehicles into the garage when possible, and placing grills and patio furniture indoors.
Keep all receipts for any repairs so your insurance company can reimburse you.
Check with your insurance adjuster for referrals to professional restoration, cleaning and salvage companies if additional assistance is needed.
Make sure watercraft are stored in a secure area, like a garage or covered boat dock. A typical homeowners policy will cover property damage in limited instances for small watercraft, and separate boat policies will provide broader, more extensive property and liability protection for larger, faster boat, yachts, jet skis and wave runners.
There will certainly be an extended period with power outages. After the storm, empty out your freezer and refrigerator of all perishable items and put in covered trash receptacles. Unplug all appliances and electronics since there will certainly be surges when power is restored.
Be mindful of downed power lines when going outside after the storm. Broken branches can also be dangerous and will continue to fall given the winds and rain that follow the storm. Remove debris from your property to ensure continued safety.
You Are Under Contract…What’s Next?
Rarely does a buyer get a place that is truly in “move-in” condition. By the time you’ve signed a contract, you have lots of ideas about how you’ll live in this home, how you’ll customize it to suit you and your family, and what work needs to be done.
10 Reasons Why Another Real Estate Crash is Unlikely Today
How concerned should investors and homebuyers be that we’re headed for another real estate crash as we approach the 10-year anniversary of the infamous 2006-2007 housing bubble? Not at all.
Although buyers are paying spectacular prices for commercial properties and trophy homes, just as they did then, this time price increases are being fueled by foreign investors seeking diversification and a haven for their funds, as well as investors on the hunt for a low interest-rate environment.
Real estate is still a favorite life raft for nervous investors, who are seeking safety amid market volatility.
This has led to record real estate prices, which some have interpreted as a sign that the U.S. real estate market is once again climbing into bubble territory and headed for another crash. But a repeat of the 2009 real estate implosion that followed the collapse of the equities market in 2008 is highly unlikely this time.
Here are the top 10 reasons why:
1. Most Americans Have Refinanced to Fixed Rate Loans
Most Americans who could refinance to a fixed-rate mortgage have already done it. As a result, the impact of interest-rate shock when short-term ARMs re-adjust will be minor, compared with what happened in 2008-2009. During that period, many Americans could no longer afford their new mortgage payments and defaulted.
2. Bank Repossessions are Flushing Out Old Distressed Properties
Bank repossessions recently rose to the highest levels in more than two years, signaling that banks are dealing with properties in default and flushing out old distress, rather than ingesting more. Foreclosure activity continues to fall.
3. Loans in Foreclosure Are at the Lowest Level Since 2007
Despite an increase in bank repossessions, the percentage of loans in foreclosure nationwide is just 2.1% — the lowest level since 2007, according to the Mortgage Bankers Association.
4. There’s Less Risk of a New Mortgage Bubble
The market is no longer fueled by a surge in new housing loans based on loose credit standards. Tighter requirements for loan approvals that followed the 2009 mortgage meltdown reduced the number of foreclosures nationwide to a 10-year low. This tempers the number of real estate bubbles that can pop and, if the market slows down, there may be a contraction, rather than a pop. New TRID requirements are further evidence of guarantying a healthy mortgage market.
5. Interest Rates Are Likely to Remain Low for the Foreseeable Future
The likelihood the Federal Reserve will raise key interest rates recently lessened, following the economic disruption coming out of China. As a result of recent market volatility around the globe, rates have not climbed as expected and the risk of higher rates has diminished for the foreseeable future. It’s also important to mention that China’s slowdown could also positively impact U.S. property values, as global funds seek relative stability in the U.S. real estate market.
6. First-Time Buyer Assistance Programs are Luring New Buyers into the Market
New initiatives have been put in place to assist prospective first-time homebuyers. At the beginning of 2015, the Federal Housing Administration (FHA) moved to reduce annual mortgage insurance premiums by up to $900 per year. This move could push home sales up to 5.6 million — the most seen since 2006- and it could introduce as many as 140,000 new buyers to the market, according to the National Association of Realtors. The FHA’s program aims to transition millennials and others from renting to owning a home.
7. Job Creation Indicates the Economy is Getting Stronger
The United States has added jobs at a steady rate over the past five years, and many of the jobs that were lost during the recession have been brought back. Additionally, the quality of jobs being created has improved as the economy has recovered.
8. Average Residential Home Prices Have Risen at a Slow, Steady Pace
Unlike the high-end, luxury market, prices for average residential homes have risen at a slow, steady pace. According to the S&P/Case-Shiller Composite 10-Home Price Index, residential home prices remained 15 percent below their April 2006 peak as of July 2015.
9. New-Home Construction Has Not Recovered from the Downturn
The supply of existing homes for sale today is lower than it was in 2000, although the population has grown more than 14%. New, single-family starts are 60% below the 2006 peak and roughly 25% below the average for the past 15 years.
10. Commercial Real Estate Remains Below Peak Levels
Commercial real-estate fundamentals are similarly healthy, and although commercial real estate prices have increased steadily since the crash, they still remain below peak levels. Vacancy rates are at or near all-time lows for apartments and warehouses, and are at their lowest post-crisis point for office and retail properties.
Commercial real-estate development also remains more than 25% below its pre-recession peak, which has led to improved property fundamentals, with both occupancy rates and rents rising.
The real-estate market today has a stronger foundation than it did in 2006, thanks to more disciplined and conservative credit underwriting of debt and a market that is much healthier than it has been at any point during the past decade.
Nearly 10 years after the bubble began, the message to investors is clear: Rest assured you are looking at a chastened and more disciplined market in which to participate — not another looming bubble.
What You Should Do After Closing
You searched for homes over the course of months or even years. You endured a series of offers and counter offers, property disclosures, inspections, loan applications, due diligence, and packing. Finally, after so much excitement, stress and anxiety, the house hunt has come to an end. But the story isn’t over yet. Here are some next steps to consider before you actually move in.
The first stop you make after closing should be your local copy shop. While all the documents are still together and in order, make at least one copy of everything. Put one set in your folder for tax filing and one set in a file for house records.
Keep your photocopies on hand at the house in case you need them in a pinch, but store the originals of your mortgage loan docs and your title certificate in a secure, off-site location. That means a safe deposit box at the bank, or on file with your attorney.
You’ll eventually want to take an inventory of everything you move into your house, but before you do so it’s a good idea to take pictures of your house in its native state. Once furniture is in place it will be difficult to remember where outlets are and what your home looked like when it was brand new. In the event of a catastrophic loss, you’ll need to refer back to those pictures in order to restore your home, so make sure you store them offsite, email them to yourself at a webmail address, or upload them to a cloud-based server.
Hurricane Preparedness Kit provided by Optima Properties
Hurricane hazards come in many forms, including storm surge, high winds, tornadoes, and flooding. History teaches that a lack of hurricane awareness and preparation are common threads among all major hurricane disasters. by knowing your vulnerability and what actions you should take can reduce these effects. I hope you find this information informative. Please bookmark this BLOG for future reference.
Checklists:
- Hurricane Preparation Tips: https://www.rapb.com/docs/articles/06-28–2015-rslc-article—hurricane-preparation-tips.pdf?sfvrsn=2
- Palm Beach County Emergency Supply Kit Shopping List: http://www.pbcgov.com/dem/hurricane/pdf/hurricane_supply_checklist.pdf
- Red Cross Supply Checklist: http://www.redcross.org/prepare/location/home-family/get-kit
- Digital Engagement Toolkit: www.ready.gov/ready2015
- CDC Checklist: http://emergency.cdc.gov/disasters/hurricanes/supplies.asp
Additional Resources:
(Includes Before, During, and After a Hurricane)
Before:
Apps:
- PBC DART: https://itunes.apple.com/us/app/pbc-dart/id526473189?mt=8
- Redcross Emergency: http://www.redcross.org/mobile-apps/emergency-app
Business:
- Business Planning: http://www.ready.gov/planning
- Protecting Businesses: http://www.fema.gov/media-library/resources-documents/collections/357
Evacuations:
- Evacuation Plan: http://www.redcross.org/prepare/location/home-family/plan
- Evacuation and Shelters: http://www.floridadisaster.org/disability/section1_2.html
- Evacuating Safely: http://www.ready.gov/evacuating-yourself-and-your-family
- Evacuation Zone and Route maps: http://www.floridadisaster.org/publicmapping/
Finances:
- Financial Preparedness: https://www.disastersafety.org/blog/top-10-ways-protect-home-wallet-hurricane-season/
Flooding:
- Flood Insurance: https://www.floodsmart.gov/floodsmart/pages/flooding_flood_risks/what_causes_flooding.jsp
- Preparing for Floods: http://www.fema.gov/media-library/assets/documents/13261?id=3262
- https://www.floodsmart.gov/floodsmart/pages/preparation_recovery/before_a_flood.jsp
Food & Water:
- Water: http://www.ready.gov/water
- Food: http://www.ready.gov/food
Homes:
- Securing Your Home: http://www.floridadisaster.org/securehome.htm
- Federal Alliance for Safe Homes: www.flash.org
Pets:
- http://www.ready.gov/caring-animals
- http://www.disastersrus.org/MyDisasters/pets/DIST_DisasterPetBrochure.pdf
- Horses: http://www.disastersrus.org/MyDisasters/pets/DIST_DisasterHorseBrochure.pdf
Pre-Season:
- Debris Cleaning Tips Before Storm (Pages 1-2): http://www.swa.org/DocumentCenter/View/103
Tips & Information:
- PBC Hurricane Preparedness: http://www.pbcgov.com/dem/knowurzone/
- Tips and Info: http://www.ready.gov/hurricanes
- Tips for people with Disabilities: http://www.ready.gov/individuals-access-functional-needs
- General Information: http://www.nhc.noaa.gov/prepare/
Weather & Forecasts:
- 2015 Hurricane Forecast: http://www.weather.com/storms/hurricane/news/hurricane-season-forecast-atlantic-2015-noaa-weather-channel-csu
- Severe Weather info(Supply Checklist on page 13): http://www.floridadisaster.org/swaw/2015/documents/2015%20Guide.pdf
- Latest Watches and Warnings – National Hurricane Center: http://www.nhc.noaa.gov/
- Pre Hurricane Season: http://www.swa.org/153/Before-During-and-After-the-Storm
During:
Food and Water:
- Food and Water During Emergencies: http://www.fema.gov/pdf/library/f&web.pdf
- Keeping Food Safe: http://www.ready.gov/food
Tips & Info:
- Before, During, and After Advice: http://www.fema.gov/media-library-data/253331ac179d32652a4d0cbf7fb3e6eb/FEMA_FS_hurricanes_508_8-15-13.pdf
Utilities:
- Turning off Utilities: http://www.ready.gov/utility-shut-safety
After:
Assistance:
- Applying for Assistance: http://www.fema.gov/apply-assistance
Clean up:
- Where to take Debris: http://www.swa.org/DocumentCenter/View/1182
- Debris Cleaning Tips(Pgs 3- 12): http://www.swa.org/DocumentCenter/View/103
Homes:
- Search for Rental Houses: http://asd.fema.gov/inter/hportal/home.htm
Search & Rescue:
- Informing Family and Friends of Your Safety: https://safeandwell.communityos.org/cms/index.php