January is almost over but winter is still here to stay for a few more months. Excessive cold temps can leave homeowners with the possibility of their pipes freezing.  If this happens, pipes can burst and result in a major disaster.

An average of a quarter-million families have their homes ruined and their lives disrupted each winter, all because of water pipes that freeze and burst. By taking a few simple precautions, you can save yourself the mess, money and aggravation frozen pipes cause.

• During winter, don’t set your home’s thermostat lower than 55 degrees. If you plan to be gone for an extended period of time, drain the water system by shutting off the main valve and turning on all water fixtures until the water stops running.
• If the house isn't in use during the coldest months, drain the plumbing system before closing the house down. A drained system is the only foolproof way to avoid a freeze-up.
• Open cabinet doors to allow heat to get to uninsulated pipes under sinks and appliances near exterior walls
• Heat tape or thermostatically-controlled heat cables can be used to wrap pipes. Be sure to closely follow all manufacturers' installation and operation instructions.
• Always unhook your water hose from your outdoor spigot in the winter, or before the weather in your area starts to get below freezing. The water inside the hose can freeze, and the freezing continues back into the spigot until it reaches your piping. If you have PVC plastic piping leading to this spigot, it will burst.
• Use a product called ICE LOC which prevents pipes from rupturing by taking up the expansion of the frozen water. It's an elastomer that fits inside pipes that are in trouble area's

If a pipe does freeze, little or no water will come out of the faucet. You can try to thaw it with a hand-held hair dryer but NEVER try to thaw with a blow torch or open flame. If that does not work then leave the faucets turned on and call a plumber. If you detect that your water pipes have frozen and burst, turn off the water at the main shut-off valve in the house.

When purchasing a new home you will most likely be asked to make what is called a good faith deposit or earnest money deposit. This deposit lets the seller know that you are serious and, to some extent, has the financial capacity to follow through on the purchase. This deposit is separate from the down payment.

How much do you need to deposit?

There are various factors that will determine the actual amount of the deposit.  The larger the amount of the deposit the more the seller will consider the buyer's offer.  Deposits tend to be less during slow markets and more when the market is more geared towards sellers but can range anywhere from 1 to 3 percent of the sales price but, there is no set requirement. Keep in mind you want to make a large enough deposit so that the seller will take your offer seriously, but of course not so large that it will be a strain on your budget.

Who gets the money?

The earnest money deposit should always be made to a reputable third party such as a well known real estate brokerage, legal firm, escrow company or title company. Never give an earnest money deposit to the seller. It is vital that you also verify that the third party will deposit the funds into a separately maintained trust account. Always obtain a receipt.

Is the money refundable?

Be sure to review your real estate contract as it will indicate if your deposit is refundable. It is a good idea to consult a real estate attorney who can help ensure that your offer is written in a manner that protects your rights to the deposit.  Even if your money is refunded, you may not receive the entire amount. Often, third party fees are paid out of earnest money deposits. For example, if an appraisal has been completed on the property then the appraisal fee is going to have to be paid before money can be released to either of the parties. Check the laws in your state as some states have laws requiring the buyer and the seller to agree on the disbursement of these funds before they are refunded, which can lead to further problems and legal action.

The basic idea of an earnest money deposit is be an type of insurance option for a seller. It is important to remember that the escrow process can take 30 to 60 days, and during that time their property is off the market. The good faith deposit essentially compensates the seller for this time in the event the buyer is unable to follow through on the purchase of the property. This deposit helps reassure the seller you are serious about buying their home.

New homebuyers know that there are many expenses involved, from down payments to closing costs. The last thing a home buyer wants to worry about after buying their home is having to come up with additional funds to pay for anything that might break or malfunction in their new home. There is an option that can help to cover any problems that might occur. You may want to consider purchasing a home warranty. A home warranty is a service contract which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear.  

Each warranty varies but the typical cost for these warranties are fairly inexpensive, typically ranging from $250 to $600, depending on coverage.  There are many different plans with different requirements, most tend to operate the same way. If an  appliance or item covered breaks or stops working, the home owner calls the home warranty company. The home warranty company calls a provider with which it has an arrangement and they contact the homewoner to come out to fix the problem.  Typically if the problem can be fixed per the contract coverage than the warranty company pays the contractor directly.

Each company is different in what items they cover but below are some typical systems and appliances that are covered and what are not typically considered to be included.

Typically Covered

Air conditioner system/ Furnace / heating
Dishwashers
Doorbells
Water heater
Garbage disposal
Inside plumbing stoppages
Ceiling fans
Electrical systems
Range and oven

Typically not covered

Outdoor items such as sprinklers, or pool filters/spa systems
Not all plans pay for refrigerators, washers & dryers or garage door openers
Spa or pools, unless specific coverage requested

A home warranty is something to be considered, especially if you are a first-time home buyer with no experience maintaining a home. Your home is most likely one of your biggest investments and unexpected repair or replacement costs can easily drain a new home buyers savings. While part of homeownership requires dealing with unexpected breakdowns and repairs, having a home warranty can help to covered repairs or replacement easier and less costly.

Many homeowners decide to add a fence to their property for various reasons. Privacy is usually the top reason as well as keeping children and pets safe. Fences also add value and appeal to a home. There are many different types of fences to choose from to best suit your budget and situation. Visit the fence project estimator to get an idea of cost and how to find a quality fence company in your area.

Types Of Fences

Wood Fences. A popular and cost effective choice, wood fences can be made out of Western red cedar, cypress, or treated pine. When maintained properly, wood fences can endure the harshest weather and provide you with several years of serviceability. Wood fences can come in privacy, picket or rail style. 

Vinyl (PVC) Fencing. Vinyl fences are strong and highly durable - retaining their shape, color and structural integrity. In addition to their attractive appearance, this style of fencing offers many benefits. They wont rust or rot, are termite resistant and is virtually maintenance free. While this type of fencing is more costly than wood, you will not need to replace the fence in a few years, they are built to last a lifetime. There are many styles of vinyl fencing available to suit your needs from privacy to picket and now come in more color options than just white.

Chain Link Fencing. Chain link fences are an economical way to provide years of maintenance-free security and access control. These types of fences are extremely versatile; they can be made in a variety of heights, and can handle anything from a simple boundary marker for a homeowner to perimeter security. You can also get vinyl coated chain link fences in different colors for added versatility.

Wrought Iron Fences. This style of fencing is extremely durable and has a classic look. They are available in different colors, patterns and heights. This style of fencing can be used for walkways, porches, and perimeter and driveway gates as well.

Adding a fence is an investment and as with any large purchase, it is wise to shop around and consider all your options. Some things to consider: what is the primary purpose your fence? Will it provide security, satisfy municipal codes, retain children or pets, secure a pool or spa? There as many reasons for investing in a fence as there are options!

If you are planning to purchase a new home or even refinance it is more important than ever to have good credit. Many lenders are restricting loans and requiring higher credit scores.  Experts recommend that a credit score of around 700 is the minimum you need in order to get a loan with decent rates.

Even if you have had some problems in your credit in the past, you  can start right now with steps to help improve your credit and get you on the right road so you can purchase that dream home!

1. The first step is to know where you stand.  If you haven't already seen your credit report, it is vital that you obtain it now. You can get a free copy from annualcreditreport.com from each of the three credit bureaus -- Equifax, Experian and TransUnion.

2. If you do find mistakes on your credit report it is vital that you dispute them immediately. The process in which you dispute these errors is not a quick one, it can take up to 45 days for claims to be investigated. Disputing the errors may be time consuming but if you have incorrect information on your report if could be costing you important points on your credit score.

3. Work to lower your debts. While this may be easier said then done, if you lower the ratio of your outstanding debt to your credit limit it will help tremendously. If you're a long-standing customer with a good history, ask your current credit-card issuers to raise your limits. A good rule of thumb is to keep your balance below 30% of your limit on each card.

4. Be aware that paying off a collection account will not remove it from your credit report.It will stay on your report for seven years. If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor.This won't improve your credit score immediately, but if you can begin to manage your credit and pay on time, your score will get better over time.

5. Pay balances in full each month. If you can that is your best bet, if you are unable to pay off the balance each month try to pay a little more than the required minimum. Late payments will lower your credit score, and typically opens up the possibility that your lender will charge you a higher rate.Lenders look at your payment history and if it shows that you are consistently late they may choose to deny you new or additional credit.

The final walk through is an inspection of the property shortly before the closing to verify that the real estate you are buying has not been altered since you executed a contract to buy the property. Many times your agent will accompany you to help you inspect the house to to verify that everything has been addressed that was agreed upon.

You should closely look for anything that may have changed since the last time you were at the home ? especially if the seller has already moved out. The final walk through is your opportunity to discover any last minute issues before the date of the final closing. So knowing what's important and what to look out for during the final walk through can save you a good deal of grief later on. 

It is a good idea to make a list of things to look for and take your time when you are doing your walk through inspection. It is also a good idea to have your Sales Contract with you so that you can review any items that should be included with the house.

Here is a list of items to check on a final walk-through:

• Did the movers bang up the walls, rip the rugs or scratch the wooden floors? Also watch for areas where furniture or rugs may have been when you originally looked at the house. Many times defects in carpeting or floors that were covered are now visible.
• Did the moldings around the doors get damaged when they moved an appliance from a room?
• Does the heating and air conditioning system still work?
• Don't forget the inspect the exterior. Check the condition of windows, doors, sprinklers, gutters, and landscaping.
• Are all of the appliances still working?
• Have all the items that the seller agreed to remove from the home out of the home?
• Turn on and off every light fixture
• Run water & look under sinks for leaks
• Open and close all doors and doors
• Flush toilets
• Inspect ceilings, wall and floors
• Make sure any repairs that were agreed upon have been made

Unfortunately, things don't always go as planned and you may find that there are some issues that have not been taken care of as agreed. You do have options in case this happens. It is a good idea to work with an attorney to come to a satisfactory arrangement.