Search results matching tag 'Community Information'

Westchester Market Report 1st Qtr 2010

248906 — Fri, 07 May 2010 03:53:00 GMT

Houses

Closings were up 77% to 756 closings for single family homes in Westchester County in the first quarter of 2010. Prices were also up 13% respectively for the same period in the county, making the median price for a new house $599,500. These closings reflect activity that occurred the Fall of 2009. Realtors remain optimistic that a “recovery” is taking place. Buyers and sellers should be guardedly optimistic given these numbers are compared to the dismal Spring of 2009. Volume is comparable to 2008, when the recession took hold.

Investments

Multi-families experienced a transaction increase coupled with price depreciation this quarter. The median sold price for 2-4 family investment property was $348,000, down 15% from last year. Astonishingly a multi-family is cheaper than a condominium today in Westchester. The number of closings however was up 34% to 83 units sold, from the previous year, evidencing that investors are taking advantage of plummeting prices.

Condos

The median condo sold for $365,750 this quarter, up 4% from the same quarter last year. Closings rebounded significantly, going up 37% this quarter to 180 transactions. The increase is tempered by the assumption that owners are still holding inventory. But the trend may continue, prompting owners to release more inventory for buyers.

Cooperatives

The median coop sold for $170,000, down 5% from last year. Closings were up 27% from the same quarter last year. The increase in transactions reverses the trend of 2009, which saw the lowest seen in more than 10 years, reflecting frustrated sellers and tentative buyers. Cheaper than condos, coops require board approval, so new buyers looking for deals had to have their down payments in order, and financials straight to purchase. 2010 continues to look like cheaper prices.

Future Outlook

Overall Westchester transactions increased by 55%. Total dollar volume increased by 38%. The federal tax credit ended April 30^th and the FEDs have yet to extend the program. If the party is over, buyers will have to create their own recovery and search out good deals. As always the market outlook depends greatly on the job market. 2009 saw low interest rates but experts predict higher rates this year. Wall Street seems to have rebounded but foreclosures increase which will put downward pressure on prices.

Click here if you would like a quarterly market report for your neighborhood delivered securely to your inbox… AskRey.

Rey Hollingsworth Falu

Licensed Associate Real Estate Broker

Houlihan Lawrence - Bronxville

Direct 917-855-0277

rhollingsworth@houlihanlawrence.com

AskRey.net

Greatest Hustler of All Time... Do you know them?

248906 — Fri, 05 Jun 2009 19:20:00 GMT

Who is the greatest Hustler of All Time? Be careful. There are a lot of hustlers in real estate. I see it time and time again. The faces change, but the game stays the same. So if you are buying a house, be careful that you don’t have the Greatest Hustler of All time. Do you know any of these people?

The Politician

They promise you the sun and moon on their way up. They promise to clean up the mess and only stay for a short while. They rail against the inequalities of life and the unfairness of it all. Every word they say seems to touch your heart.... until they get in. Then you find out about secret deals and backdoor meetings. Money starts to disappear. All their friends get rich. But, you stay poor? They end up staying forever. "Anything that walks on two legs is bad....except Pigs!" (Remember George Orwell's Animal Farm) Fool me once, shame on you, fool me twice...uh...err.., can't get fooled again. Yeah, I get it. Even George Bush understood that one.

The Money Person

Let me get this straight. I give you all my money to hold. In exchange you charge me fees to get it back from time to time. You pay me a little interest to hold my money, and you earn a lot of interest to invest it someplace else. If you make bad decisions with my money, you go to the Government who taxes me to bail you out? You take my tax dollars and pay your bad decision makers millions to continue their stellar work? Who the hell set this up? I wouldn’t believe it, if it wasn't happening to me.

The 3 Card Monty

I can't believe this trick still works. One guy stands on the corner with 3 cards, shuffles them very fast and asks you to guess which card is which. You, the sharp eyed eagle that you are, figure you can guess the right one and earn a buck or two in the process. However, this guy had a patsy working the crowd, who makes it look so easy. The patsy keeps losing, and you get it right every time. Until it's your turn. These guys aren't on the corners anymore.

The Guy That Talks to God

Are you sure God said for me to give you all my money? Because I don't remember reading that in the good book. Well Ok. I will trust in God. These people that claim to speak for God keep telling me what to do with my money. Often they want me to give it to them because they know how to spend it better than I do. But sometimes, I question the people that claim to speak for God. I think I read something about this. I'm going to leave this one alone.

The Insider

Everywhere you look there is someone in a special position who really knows what is going on. This someone is on the inside. They are trusted. They know the real deal. Instead of doing right for right's sake, they decide they will profit from their information. They charge the person needing help for the information, and they charge the person giving help for the same. Hey... That's double dipping! They make you feel like they are working for you when they are working for themselves. Often you never find out.

The Insurer

You give this person money every now and again in case something happens. It's not a lot, just a little in regular intervals for a long time. In exchange, the Insurer promises that if anything big ever happens to you, that they will take care of you. They promise to make it right. They promise to pay for your well being. When nothing happens, you don't get any money back. They keep it. God forbid, if something happens, you have to pay again, and often you have to carry a cross on your back to prove that you should receive a claim. The insurer will often hire the Insider to make your life hell until you go away.

All these people are in real estate now. I have met some really good people in all these professions. If you need a good person, I will give you their info...for free. But the bad ones make me boil. Beware. If I've left anyone off my list, please let me know at AskRey.net.

Westchester Market Report - 2009 1st Quarter

248906 — Fri, 01 May 2009 13:23:00 GMT

Westchester County NY reported a 31% decrease from last quarter’s home sales transactions. The median sale price of a single family house in Westchester was $532,000, a decrease of $90,500 or nearly 15% from last year. The decrease was attributed to rising unemployment, plunging equity markets, weak corporate earnings and the general economic malaise of last year.

Westchester only closed 850 transactions last quarter; the lowest closing rate the MLS has reported since Ronald Reagan’s presidency. Price levels are now back to 2003. The most severely affected properties were homes selling above $1 Million. Investment property prices dropped 20%. Condo prices were down by 7%. Coop prices had a small uptick.

All recent activity seems to indicate that the second quarter of 2009 will be better, because activity has picked up dramatically. Banks have begun lending. Mortgage rates are low. Buyers are taking advantage of the $8,000 first-time homebuyers’ tax credit if they close by December 1^st. To get the full WPMLS Westchester report, go to AskRey.net and click on the RE NEWS tab, or…. AskRey.

First Time Home Buyer Seminar in Westchester

248906 — Fri, 03 Apr 2009 14:26:00 GMT

First Time Home Buyer Seminar

April 4th, 2009
Saturday, 1:00PM - 2:30PM

Where: YMCA
220 South 2nd Ave,
Mount Vernon , NY
Cost: Complimentary

It's time for you to own your own home this year. Come to this buyer seminar and get the secrets that successful home owners used to buy their homes.

Learn the best sources for financing.
Learn the buying process from start to keys in your hand.
Learn what pitfalls to look out for when selecting your home.
Get access to today's best deals in new and existing homes.

Space is limited. RSVP is required.

Email rhollingsworth@houlihanlawrence.com or call 917-855-0277.

$8000 Homebuyer Tax Credit: Use It or Lose It

248906 — Thu, 26 Mar 2009 14:55:00 GMT

Buyers. You can get an $8000 tax credit if you buy your home in 2009. It's called the Homebuyers tax Credit and it is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.

The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Chart Highlighting the Major Modifications to the First-Time Homebuyer Tax Credit> (PDF: 309K)

Frequently Asked Questions> (PDF: 483K)

Download the IRS First-Time Homebuyer Tax Credit Form 5405> (PDF: 257K)

NAR's Presentation: The 2009 First-Time Homebuyer Tax Credit> (PDF: 319K)

NAR's Presentation: The 2009 First-Time Homebuyer Tax Credit> (PPT: 218K)

Reprinted from Source: Realtor.org

Congresswoman Nita Lowey (D-NY) Reports on $24.6 BB to New York

248906 — Mon, 23 Mar 2009 14:14:00 GMT

New York is expected to receive $24.6 Billion in funds from the recently passed American Recovery and Reinvestment Act, signed into law by President Obama. New York Congresswoman Nita Lowey met with the Westchester Hispanic Chamber of Commerce to outline opportunities for local initiatives in many areas, including housing. Below is a summary of housing programs available in New York State. Congresswoman Lowey encourages you to visit http://www.economicrecovery.ny.gov/ to submit specific projects for consideration or for more information on available funds. Here is your bailout.

Grants: Public Housing Authorities for Capital Needs Grants

Amount: $4 billion

Type: $3 Billion States receive funding through a formula

$1 billion was also included for competitive grants

Office: Office of Public and Indian Housing - Office of Capital Improvements

Agency: U.S. Department of Housing and Urban Development

Description: Funds to Public Housing Agencies (PHAs) for building repair and modernization, including critical safety repairs.

Website: http://www.hud.gov/offices/pih/programs/ph/capfund/ocir.cfm

HUD Recovery State Formulas: http://www.hud.gov/offices/pih/programs/ph/capfund/grants/arra/index.cfm

Grants: Homelessness Prevention Fund

Amount: $1.5 billion

Type: States and localities receive funding through a formula

Agency: Department of Housing and Urban Development

Purpose: Funding provides short-term homeless prevention assistance to those losing their housing.

Website: http://www.hud.gov/offices/cpd/homeless/programs/esg/

HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm

Grants: Community Development Block Grants

Amount: $1 billion was included in formula funds to be distributed to local communities and states for community development and affordable housing activities.

Type: States and localities receive funding through a formula

Administrator: Department of Housing and Urban Development

Description: Funding for community and economic development projects including housing and services for those hit hard by tough economic times.

Website: http://www.hud.gov/recovery/cdblock.cfm

HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm

Grants: Neighborhood Stabilization Program

Amount: $2 billion

Office : Office of Community Planning and Development

Agency: U.S. Department Of Housing and Urban Development

Type: Competitive Grants

Description: Help communities purchase and rehabilitate foreclosed, vacant properties in order to create more affordable housing and reduce neighborhood blight.

Website: http://www.hud.gov/offices/cpd/communitydevelopment/programs/neighborhoodspg/

HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm

Grants: Lead Hazard Reduction Program

Amount: $100 million

Office: Office of Healthy Homes and Lead Hazard Control

Agency: U.S. Department Of Housing and Urban Development

Type: Competitive Grants

Description: Funds for competitive grants to local governments and nonprofit organizations to remove lead based paint hazards in low-income housing.

Website: http://www.hud.gov/offices/lead/grantprograms.cfm

HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm

Grants: Native American Housing

Amount: $510 Million for rehabilitation and energy efficiency upgrades at housing maintained by Native

American housing programs

Agency: U.S. Department Of Housing and Urban Development

Type: $255 Million through a formula

$255 Million for competitive grants

Eligibility: Eligible applicants include Indian tribes or tribally designated housing entities (TDHEs) eligible to receive funding under NAHASDA (25 U.S.C. 4101 et seq.)

Website: http://www.hud.gov/recovery/native-american-formula.cfm

HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm

Grants: HOME Investment Partnership Program

Amount: $2.25 billion

Agency: U.S. Department Of Housing and Urban Development

Type: Funds will distributed by formula to states

Description Funds will provide state and local governments with funds to create and rehabilitee affordable housing

Website: http://www.hud.gov/offices/cpd/affordablehousing/programs/home/

HUD Recovery State Formulas: http://www.hud.gov/recovery/tcap.cfm

Grants: Tax Credit Assistance Program (TCAP)

Amount: $2.25 billion

Agency: U.S. Department of Housing and Urban Development

Type: Funds will distributed by formula to 52 State Housing Credit Agencies

Description: Funding for capital investment in Low Income Housing Tax Credit (LIHTC) projects via a formula-based allocation to State housing credit allocation agencies

Website: http://www.hud.gov/recovery/tax-credit.cfm

Grants: Home Weatherization Assistance Program

Amount: $5 billion

Agency: U.S. Department of Energy and Housing and Urban Development

Type: States receive funding through a formula

Description: Funds to assist low-income families reduce their energy bills by making their homes more energy efficient

Website: http://apps1.eere.energy.gov/weatherization/doe_guidelines.cfm

State Contact Info: http://apps1.eere.energy.gov/weatherization/state_contacts.cfm

Grants: Rural Housing Insurance Fund

Amount: $200 million

Agency: USDA - Rural Development - Rural Housing Service

Type: Direct and guaranteed loans

Description: Funds to insure or guarantee rural housing loans for single-family homes, rental and cooperative housing, and rural housing sites

Website: http://www.rurdev.usda.gov/rhs/

Forms: http://www.rurdev.usda.gov/regs/formstoc.html

Grants: Rural Community Facilities

Amount: $130 million

Agency: U.S. Department of Agriculture - State Rural Development Office

Type: Competitive Grants

Description: Funds to support grants and loans to rural areas for critical community facilities, such as for healthcare, education, fire and rescue, day care, community centers, and libraries.

Website: http://www.rurdev.usda.gov/rhs/cf/cp.htm

How to Buy a Co-Op

248906 — Sun, 22 Feb 2009 23:55:00 GMT

You want to buy a co-op? Below are ten steps to ownership. A co-op is an asset like any other piece of real estate except you are not really buying the property. A co-op is not condo. When you buy a condo you are buying the actual site (like a house). In a co-op, or cooperative, you are buying shares of a corporation (which is leasing you back the place where you will live). It is a North-Eastern phenomenon that made ownership affordable. So the process is like buying a house, except usually you must get approved by your fellow share holders (the Board).

Here are ten steps to co-op ownership

1. Set an ownership goal. Your goal should say what you want with a due date for achieving it. Download a photo for motivation, write a due date on it and get to work.

2. Get pre-approved by a lender. A conditional commitment would be better. Important: Get the conditional commitment before you start looking for the co-op. This will help you avoid the foreclosure list down the road. It will also save you wasted time and energy. If your lender tells you to find your co-op first, change your lender.

3. Start researching your choices on the Internet. In Westchester you have many web sites to help you. AskRey.net uses the powerful search engine of houlihanlawrence.com to search all MLS listings. Other sites include Trulia.com, Realtor.com and zillow.com. Find your preferred area.

4. Use a realtor. Yes I am biased, but let me make my case. Searching for a home without a realtor is like sailing to an island without a compass or GPS. You will save time, money and frustration. The realtor will narrow your search, research comps for you, negotiate the deal, and help you avoid pitfalls. Make sure your realtor does a disclosure with you.

5. Co-ops have restrictions. Some co-ops have restrictions on pets. Some allow renting. Some have parking waitlists. Some have income requirements. Most have down payment requirements of 10-15%. This is a board requirement, so neither you nor the owner can avoid this. The only way around this is to find a sponsor unit that does not have this requirement. You need to discuss these restrictions with your realtor before you go out to see co-ops.

6. Go to visit the co-ops. You will make appointments to see the co-ops you selected. Photos, videos and virtual tours can’t tell you the real story. Nothing substitutes the real thing. Visit the grounds, open doors and ask questions.

7. Make an offer. A co-op is worth what the market will yield, not what the owner is asking. Your realtor will know what the co-op is worth. If you like it, make an offer. Don’t worry about asking price. It’s called negotiation. The owner will either say YES, NO, or counter with an offer. If you have a number that both of you like, you have a deal.

8. Sign Contracts. The realtors obtain information from the buyer and seller…Names…addresses, etc. Owner’s attorney will send a contract to your attorney. The contract should be accompanied by the building’s financials, rules and regulations. This will assure that you know what you are getting into. Review it with your attorney. When you are happy, sign the contract and put down your deposit. Your attorney will send it to the seller’s attorney and they will sign the contract and send it back to your attorney. You are now in contract.

9. Pass the board. Most co-ops require board approval. You now have to submit an application to the co-op board. They will likely charge you a fee to apply. It varies. Remember, the boards are representatives from the building. These are your neighbors and fellow owners who want to make sure that you can afford to buy into the corporation and that you will not default. You will submit an application, a copy of your contract, a commitment letter from your lender, your financial information, bank statements, tax returns etc. You will meet the board after you submit everything and they will notify you if you pass. If you do not pass, they are not required to tell you why. Most of the time, it’s a financial reason.

10. Time to close on your co-op. Once you pass the board, you are ready to close. You will do a walk through right before the closing. If you are financing the balance, speak to your lender before the closing to make sure they have your money ready. Have a photo ID.

At the closing table, the following people will be there: You, your attorney, your realtor, the Seller, the seller’s attorney, the seller’s realtor, the Management Company rep, the title rep, and the bank’s attorney. WHEW. All these people are there to make sure nobody pulls a fast one. Everyone has paperwork to sign. Your pen will put out more ink that day, then any other day. You will promise to pay your note. You will promise to abide by the rules and regulations of the building and the corporation. You will acknowledge that everyone told you all that you needed to know.

Congratulations. You are a shareholder. You own stock in the corporation. You have a proprietary lease. You can join the board. You have a marketable asset. You have a new life. Enjoy it. Make your payments on time. Make sure to invite your realtor to the party. If you would like a private co-op consultation and eligibility screening … AskRey.

10 People to Blame for the Financial Crisis

248906 — Sun, 22 Feb 2009 23:38:00 GMT

How did the world’s most powerful economy get so bad? TIME Magazine published their list of people their readers think should carry blame for the current financial crisis. The list was voted on by Time magazine readers and contains the top ten vote getters. Here are the worst offenders. Did these people make your list? I bet you hadn’t heard of number one.

10. Kathleen Corbet: She ran Standard & poor’s, the nation’s largest rating agency during much of this decade. How did some of our current bankrupted and bailed-out corporations receive continuous AAA seals of approval on large portions of even the riskiest pools of loans for all that time? Hummm. Rating agencies helped lure investors into loading on collateralized debt obligations (CDOs) that are now unsellable. Couldn’t she see the glaring conflict of interest? (Her company is paid for their ratings by the bond issuer.) As one S&P analyst wrote in an email, "[A bond] could be structured by cows and we would rate it."

9. Frank Raines: A former Clinton Administration Budget Director, Raines was the first African-American CEO of a Fortune 500 company when he took the helm of Fannie Mae in 1999. He left in 2004 with the company embroiled in an accounting scandal just as it was beginning to make big investments in subprime mortgage securities that would later tank. Last year Fannie and rival Freddie Mac were saved from insolvency by the tax-payers.

8. Ian McCarthy: The CEO of Beazer Homes has become an icon for bad builders. Why blame a home builder? An investigative series that ran in the Charlotte Observer in 2007 highlighted Beazer's aggressive sales tactics, including lying about borrowers' qualifications to help them get loans. The FBI, Department of Housing and Urban Development and IRS are all investigating Beazer. Beazer Homes has admitted that employees of its mortgage unit violated regulations as far back as 2000.

7. Joe Cassano: A credit-default swap (CDS) is an insurance contract — or, if you prefer, a bet — that a company will pay its debt. Cassano, a founding member of AIG's financial-products unit, ran the group until he stepped down in early 2008. AIG's gigantic CDS contracts turned out to be at the heart of AIG's downfall and subsequent rescue. You, the tax-payer have lent $150 billion to keep AIG afloat. Thanks Joe.

6. Hank Paulson: The ex-Goldman Sachs exec turned Treasury Secretary in 2006, ended up almost single-handedly running the country's economic policy for the last year of the Bush Administration. Love him or hate him, the three main gripes against Paulson are that he was late to the party in battling the financial crisis, letting Lehman Brothers fail was a big mistake and the big bailout bill he pushed through Congress has been a wasteful mess. I can’t really fault him, but he was all up in the kool-aid.

5. American Consumers: Yes, It’s all your fault. You’ve been borrowing, borrowing, borrowing — to live beyond your means. You invested in stocks (how did that go?) You bought real estate (I know how that went). Your household debt, the money you owe as individuals, ballooned to more than 130% of income in 2007. That’s borrowing to spend. China will be coming to collect soon.

4. Chris Cox: The ex-SEC chief's was supposed stop fraud and keep the market honest. How do you think he did? Under his watch we had the Madoff scandal plus a bunch of mini-Madoffs, poor disclosure on big investment banks like Lehman Brothers and Merrill Lynch. Cox says his agency lacked authority to limit the massive leveraging that set up last year's financial collapse. Really Chris? You oversaw dwindling SEC staff and a sharp drop in action against traders. Say it ain’t so.

3. Alan Greenspan: The Federal Reserve chairman — Washington’s wizard. He had some great successes in the 1990’s and became beyond reproach. He lands on the list for one reason. He admitted in a recent congressional hearing that he had "made a mistake in presuming" that financial firms could regulate themselves. Thanks for leaving the foxes in charge of the chickens.

2. Phil Gramm: As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's most prominent and outspoken champion of financial deregulation. He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street. He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission. No regulation = no protection for the public.

1. Angelo Mozilo: I didn’t know this guy’s name until recently. Mozilo co-founded Countrywide, which was the largest mortgage lender in the country. Countrywide championed the ownership society, whether you could afford it or not. The housing bust, which toppled Countrywide and Indy Mac Bank (another company Mozilo started), sent him packing with a golden parachute. Mozilo left Countrywide last summer after its rescue-sale to Bank of America. A few months later, Bank of America said it would spend up to $8.7 billion to settle predatory lending charges against Countrywide filed by 11 state attorneys general. Bottom line: Don’t sell mortgages to people that you know can’t afford them. Isn’t that why we’re in this mess?

If one of your top ten is not on this list, then… AskRey.

Pet Friendly Coops in Westchester

248906 — Sat, 20 Dec 2008 15:10:00 GMT

Are you looking for a coop that will love your dog or cat as much as you do? Well...maybe not as much as you do, but well enough. I have been getting many requests from buyers looking for pet friendly coops in Westchester. So I did a little homework in the Westchester MLS and came up with this list. The information provided is only for coops (condos later). Sorry renters... I don't have a full list for you yet.

Some of these buildings take all pets, some take restricted weight, some take only cats or smaller animals. You must contact the management company to get the real scoop. Some are very strict about their pet policy and others...well just just say they have poor vision.

AskRey.net has not verified these listings, therefore as a caring guardian, please undertake full research and verify information posted before entering into any agreement. If you would like full listings of coops or condos that are currently available for sale in these buildings... AskRey.

Complex Location

Bronxville Ridge Bronx River Rd, Bronxville NY 10708

Kensington Bronxville Rd, Bronxville NY 10708

Bronxville Court Bronxville Rd, Bronxville NY 10708

Bronxville Gardens Louisiana Ave, Bronxville NY 10708

Haddon Hall Parkview Ave, Bronxville NY 10708

Mayflower Gardens Collins Ave, Mount Vernon NY 10552

Grand Gardens Grand Street, Mount Vernon NY 10552

Esplanade Garden E Lincoln Ave, Mount Vernon NY 10552

Fleetwood Chateau N Terrace Ave, Mount Vernon NY10552

Park Lane Park Lane, Mount Vernon NY 10552

Melissa Court Williams Street, Mount Vernon NY 10552

Marina’s Edge Davenport Ave, New Rochelle NY 10805

Lofts at New Roc New Roc City Pl, New Rochelle NY 10801

Dorchester Palmer Ave, New Rochelle NY 10801

Whitewood Gardens Pelham Road, New Rochelle NY 10805

Pelhamdale Manor Robins Crescent, New Rochelle NY 10801

The Biltmore Boston Post Rd, Pelham NY 10803

Heathcote Court Wiltshire Road, Scarsdale NY 10583

Caryl Ave. Carlyle Ave, Yonkers NY 10705

Riveredge David Lane, Yonkers NY 10701

Gateway Gateway Rd, Yonkers NY 10703

Hilltop Acres Hilltop Acres, Yonkers NY 10704

Kimberly Gardens Midland Ave, Yonkers NY 10704

Emerald Court Palisade Ave, Yonkers NY 10703

Valentine Manor Riverdale Ave, Yonkers NY 10705

Sadore Lane Gardens Sadore Lane, Yonkers NY 10705

Protect Your Home From Old Man Winter

248906 — Fri, 19 Dec 2008 14:43:00 GMT

It's time to winterproof your home before the cold weather sets in. Old man winter will be blowing hard this year, and you don't want him to blow the heat out of your house, or the money out of your pocket. There are a few simple things you could do now, to save yourself headaches and money. Here is a list of indoor and outdoor to-dos. The recommendations came from the Insurance Information Institute, courtesy of AskRey.net.

OUTSIDE YOUR HOME

Clean out gutters. Remove leaves, sticks and other debris from gutters, so melting snow and ice can flow freely. This can prevent ice damming—a condition where water is unable to drain through the gutters and instead seeps into the house causing water to drip from the ceilings and walls.
Install gutter guards. Available in most hardware and home stores, “gutter guards” prevent debris from entering the gutter and divert the flow of water away from the house and into the ground.
Trim trees and remove dead branches. Ice, snow and wind can cause weak trees or branches to break, causing damage to your home or car, as well as injury to people on your property.
Repair steps and handrails. Keeping steps and handrails in good condition can prevent someone from falling and being seriously injured. Broken stairs and banisters can become lethal when covered with snow and ice.
Seal cracks and holes in outside walls and foundations. Use caulking to protect water pipes and make sure that skylights and other roof openings have proper weather stripping to prevent snowmelt from seeping into your home.

INSIDE YOUR HOME

Keep the house warm. Set the thermostat for at least 65 degrees since the temperature inside the walls, where the pipes are located, is substantially colder—if the temperature is too low, the pipes can freeze and burst.
Add extra insulation to attics, basements and crawl spaces. If too much heat escapes through the attic, it can cause snow or ice to melt on the roof. Water can then refreeze, causing more snow and ice to build up. This can result in a collapsed roof, and can contribute to ice damming. The attic should ideally be 5 to 10 degrees warmer than the outside air. Well-insulated basements and crawl spaces will also help protect pipes from freezing. For the same reason, you may also want to consider insulating unfinished rooms.
Have the heating system serviced. Furnaces, boilers and chimneys should be serviced at least once a year to make sure they are working properly.
Check pipes. Look closely for cracks and leaks and have the pipes repaired immediately. Wrap exposed pipes with heating tape to insulate them.
Install an emergency pressure release valve in your plumbing system. This device will protect against the increased pressure caused by freezing pipes and can help prevent your pipes from bursting.
Make sure that smoke and fire alarms are working properly. Residential fires increase in the winter so it is important to protect your family with working alarm systems. Also, consider installing a carbon dioxide detector, since a well sealed home can trap this toxic gas.
Learn how to shut the water off and know where your pipes are located. If your pipes freeze, time is of the essence. The quicker you can shut off the water or direct your plumber to the problem, the better chance you have of preventing pipes from bursting.
Hire a licensed contractor to look for structural damage. If damage is discovered, you can have it repaired immediately rather than waiting for a more severe problem to occur. Also, ask about ways to prevent water damage resulting from snow-related flooding. Plastic coatings for internal basement walls, sump pumps and other methods can prevent flood damage to your home and belongings.

Source: Insurance Information Institute