Home Improvement for Women

You would have to have been living in a cave these past few months if you haven’t heard about the increase of bank foreclosures that have come on the market.  There are also government and tax foreclosures, and they have increased as well.  Some states, like California and Florida, seem flooded with them.  The tri-state area has its share too.  You can also buy a house in a “short sale,” which is when an owner cannot pay the mortgage and the lender accepts less than the total amount due on the mortgage from a buyer.  If you go this route, you must seek the advice of both a real estate professional, banker and tax accountant, as short sales do have tax ramifications.There are foreclosure bargains on the market, but you have to be prepared with information and cash if you are serious about buying one.  Don’t expect to get a house for free – banks want to make as much as they can, and even government foreclosures are not giveaways – although they can be cheaper than a bank owned home.  That said you could find great deals especially if you are willing to put in a little TLC (foreclosures may have problems, starting with general neglect, depending on long they have been on the market). Here are a few points to consider as you start your search of foreclosure listings:

Finding Foreclosures

Before you buy a foreclosure, you have to find the right one.  Government foreclosures, organized by state, can be found at hud.gov.  These homes must be purchased and lived in or held for two years by the purchaser.  Even the IRS holds property auctions for houses seized for tax reasons.  Bank foreclosures can be found through banks, obviously – just go in and ask to see their listings – and real estate agents. You can also use paid listing services that specialize in foreclosures, but in this market I don’t think it’s necessary to do this unless. I recommend starting with real estate agents, bankers, and lenders, HUD and the IRS – all offer free listings.

The Process

Each state has its own set of foreclosure laws. So don’t go it alone – even if you find a government listing consult a lawyer before you make a bid. And make sure you have the money to pay for it.  Most government foreclosures are sold on a cash basis. Bank foreclosures can be financed, but you need to be at the ready with pre-approval.  Getting pre-approved for a mortgage also forces you to determine exactly how much you can spend on a property.

Check Out Several Homes

Look at several foreclosures to get a sense of condition and price.  You will see a wild range of homes in various states of disrepair. Some foreclosures will be a great shape – many recently built homes have fallen into foreclosure or short sales.  You may also see homes in drastic states or neglect, disrepair or even those that have fallen victim to vandals (including angry homeowners).  So be prepared and keep an open mind.

Get an Inspection

The market is still sluggish so you do have time for this very important step: Hire a licensed home inspector to walk through the property to check the physical condition of the home’s foundation, roof, plumbing, electrical, appliances and structure. The inspector will provide you with a written report that details any issues and the cost to repair them.  Factor those costs into your bid. And don’t bite off more than you can handle – make sure you have a contractor lined up to make repairs and renovations if you decide to go forward.

Know the Rules

If you decide to terminate the purchase agreement for any reason, you could lose your initial deposit or down payment – or both. So always read the fine print of any contract you sign, discuss them with your real estate agent and lawyer and understand exactly what your getting into.And good luck – buying a foreclosure could be your ticket to a beautiful home at a great price!

Please visit me at www.barbarasway.com for more tips and home advice.

Whether you’re looking to create a spare bedroom, closet or home office, building a wall offers an opportunity for simple yet dramatic change. And it’s less complicated and cheaper than you might think.

Your supply list: metal or wood studs for framing (I recommend metal studs because they are fire-rated and easier to use); metal track (this runs along the floor and ceiling), drywall (5/8-inch Sheetrock/wallboard), screws (1?-inch drywall screws and metal self-drilling “zippy” screws); joint compound (spackle); and drywall tape. You may also want insulation for soundproofing.

For tools, you’ll need: a screw gun (with a No. 2 Phillips screw bit), tape measure, tin snips, utility knife, spackling/taping knife, sandpaper, a 4-foot level, a pencil or marker and a framing square.

You’ll need to make a means of access in your new partition. Options include a pre-hung door, sliding pocket door, curtains or simply creating an opening. For a 10-foot-long, 8-foot-high partition with a 30-inch-high pre-hung wood door, your cost for materials should be approximately $250. (Before you proceed, take into consideration the location of lighting and electrical components, including switches and outlets. Call a licensed electrician for this part of the job.)

You’ll need to install a track along the floor where your partition will be. Using a 4-foot level and a marker, draw a line from the corner of your base track to where your ceiling track will be. Attach your base track to the floor; use two or three screws to temporarily secure. Do the same with your ceiling track. You can install more screws once you are satisfied with the levelness.

Now you are ready to install studs, every 16 inches, between your ceiling and floor tracks. Use zippy screws to attach metal studs to both tracks.

If you decide to go with just an opening (no door), use drywall, corner bead, drywall tape and joint compound around it. If you want a door, you’ll likely need to install a header (which spans an opening for the door and creates support) and wood to screw the door jam into. Make sure you have the door on-site during the building of the partition so that you can check for proper installation. After you have installed the door, loosely screw the left and right sides into your new partition. (Put insulation between the studs if you want it.)

Leave the door shut as you begin Sheetrocking one side of the partition (this is important because it keeps the door level). Open the door, then shut it and Sheetrock the opposite side.

Once everything is secured, put drywall tape along the seam. Use a taping knife to apply a thin layer of spackle to the joints (do about 4 feet at a time to insure the spackle stays wet and workable). Then use a spackle knife to spread another thin layer of spackle over the tape. Wait until it dries, give it another coat, wait for it to dry again and then sand with a sanding block, or a wet sponge if you want to avoid dust. Spackling creates the finished look of your walls, so take your time with your masterpiece.

Finally, prime your wall with an interior latex and add some paint or wallpaper or purple leather. Voila, you have a new room

Need new furniture but Pottery Barn prices may put a hole in  your pocket?  Why not try Ready to Assemble Furniture (RTA)! It is becoming more popular in homes of today. You can’t put together furniture you say? Yes you can, and I will tell you how to do it Barbara’s Way!

First do your research and do price comparisons for the best deal. Make sure you are getting good sturdy wood, find out what kind of finish and make sure the item was not re-stocked. Once you get your purchase home do the following steps.

1. Read all of your directions first and keep the 800 no. or website on hand just in case you need help.

2. Lay out all of your parts in the order they are labeled and make sure everything that is supposed to be in the box was included.

3. Make sure to have on hand a pair of gloves and goggles.

4. Assemble the parts according to the directions on a rug or blanket for a softer surface and so as not to damage the pieces.  If the furniture is too heavy then assemble it in the area it will go. Don’t put it near a hot air vent because it will cause the furniture to warp.

5. A little tip. Have a tube of water based glue on hand. It added protection and works to lock in the pieces more securely. Just make sure you are assembling the pieces in the proper order and direction before you glue them together

And don’t forget putting furniture together is like anything else in life;  do it until you get it right!

Lastly, make it fun.  Invite some friends over for wine and pizza and do it together!