How To Read Your Florida Power & Light Bill

The Bermuda High, an area of high pressure in the Atlantic, does not extend as far west as it did last year. That means storms likely would be steered around its edge to the north of South Florida.  So far, this pattern has held for eight weeks, and it is common for these type of patterns to go on for two to three months. Everybody here in Weston FL will be grateful for a mild season.  This will stabilize property values.

Eight out of 10 Americans believe that home builders should offer solar power as an option for all new home construction, according to a recent survey by Roper commissioned by Sharp Electronics Corporation.

Conducted in May 2005, among 1,004 adults to measure their perceptions of solar power, the survey showed that two-thirds of Americans, when told that solar homes have a proven higher resale value, are willing to pay a premium for homes that have solar power systems installed. One-half of those surveyed would spend up to 10 percent more for a solar-equipped house, indicating that the cost of solar power will not prevent Americans from embracing forms of clean, renewable energy. Many homeowners in Weston FL have embraced the use of solar power for their water heaters and to heat their swimming pools.

July is when drywood-termites usually swarm in Florida. Florida state’s commissioner of agriculture and consumer services announced new rules July 6th for termite contracts, giving Florida what one expert said are the toughest guidelines in the nation.
 
Perhaps the most far-reaching rule change involves what happens when a home sustains termite damage while covered by a termite contract. Pest-control companies are now prohibited under the new rules from denying treatments or repairs if they were aware of conditions “conducive” to termite infestation. 
 
In the past, pest-control companies frequently refused to make repairs by arguing that “conducive conditions” such as moisture had led to termite damage — even if they had been inspecting the home for years.
 
These new rules will change the way the pest-control industry does business, because it will improve annual inspections, which is good for the consumer in Broward County, FL.

What is a home warranty and what is the value?
Home warranties protect against the normal wear and tear of major mechanical systems and appliances.  New homeowners may be stretched financially and may not have the funds immediately available to cover the replacement costs if something does break.  When covered with a home warranty and a problem occurs with a covered item, a service technician repairs or replaces the item using brand-new, top-quality parts and appliances.

But home warranties do not cover everything.  Look at the level of service offered, pricing, and the warranty options.  Most home warranty companies cover almost any age, make or model of covered systems or appliances designed by the original manufacturer for residential use.
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Typical home warranty contracts are one-year or 13-month contracts which cover a home’s mechanical systems (the plumbing, heating/furnace, electrical, water heater, and cooling system) and the appliances (washer and dryer, refrigerator, and built-in microwave).  Optional coverage for an additional fee may be offered to cover a pool/spa, well pump, or septic tank. 
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When a claim is made by the homeowner, a repair company is assigned the service cal by the warranty company.  The service person will come to the consumer’s home to inspect the broken system or appliance. The homeowner is required to pay a service call fee to the technician at the time of service. 
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The fee is set at the time the contract is executed  and can range from $45-$100 - depending upon what program and which warranty company was selected. The service call fee goes directly to the repair company.
It’s also important to ask questions regarding the level of customer service that the home warranty company provides. Some questions to ask are:
       “Will I have a single point of contact to go to?” 
       “Will the warranty company’s sales rep come to my office and give presentations on the programs?”
       “Is the company accessible 24 hours a day on the web and by phone?”
       “Can I order policies through the web site and can I receive immediate confirmations and invoicing?”
       “Can I make changes to the policies as they arise?” 
A home warranty is an asset to the homeowner.  It will protect them from the high costs of repair and replacement of covered items.  Ask Courtney Silverman about her experience with home warranty programs and if it is right for you.    

Mortgage rates are rising, home prices are stalling in portions of Weston FL, people are taking out alternative home loans that barely existed five years ago and inflation seems to be picking up. Guess which of the following scenarios is happening to homeowners in South Florida:  
A.      Homeowners are falling behind in their mortgage payments. The delinquency rate — in other words, the proportion of homeowners who are at least 30 days past due on their house payments — is skyrocketing. Foreclosures are going up, too, but not as rapidly.   
B.      B. Homeowners actually are making fewer late payments than they were at the end of 2005. They’re making more late payments than a year ago, but only because of Hurricane Katrina.   
You probably didn’t think delinquencies and foreclosures were declining in number. A lot of news coverage has speculated that the combination of rising interest rates, alternative loans and falling home prices could force homeowners into foreclosure. But spikes in delinquencies and foreclosures haven’t happened.
The correct answer is B, according to the Mortgage Bankers Association. The proportion of homeowners making late payments fell in the first three months of this year, compared to the last three months of 2005. The foreclosure rate dropped a teensy bit.

SENIORS AND VACATION PROPERTIES
A profile about second homeowners by the National Association of REALTORS^® offers some interesting statistics to keep in mind as you’re marketing second homes and reaching out to senior vacation buyers.
  “…In the second-home market, favorable demographics are providing a solid fundamental demand in this sector for the next decade,” according to David Lareah, NAR’s chief economist.
Here are some key findings:
The typical vacation-home owner is 59 years old and earned $120,600 last year.
Minorities have become more active in the market, accounting for 11% of vacation home purchases between 2003 and 2005 in contrast with six percent of purchases in 2002 or earlier.
Eight out ten vacation homeowners drive to their property, and half of vacation homes are located within the same state as the owner’s primary residence.
The median size of a vacation property is 1,480 square feet.
Desirable attributes: Two-thirds want to be close to an ocean, river or lake; 39 % close to recreational or sporting activities; 38 % close to vacation or resort  areas; and 31% close to mountains or other natural attractions.
Leisure activities of interest for vacation-home owners include beach, lake or water sports - 57%; boating - 38%; hunting or fishing - 32%; golf - 21%; biking, hiking or horseback riding, 20%; ski or winter recreation – 17%; and tennis - 9%.
For more information about relocation to South East Florida from a Senior Real Estate Specialist, Contact Courtney Silverman 954-292-0743

Congress recently passed legislation that will require Manufacturers of Heating and Air Conditioning systems to “increase the efficiency” of the newly manufactured air conditioning units.  The efficiency is rated utilizing a term called SEER.  Currently, most existing air conditioning units have a 10 SEER rating (some 8 SEER and some 12 SEER).  All units manufactured on or after January 23, 2006 must have a 13 SEER or higher rating. The 13 SEER central air conditioner standard is predicted to save the nation 4.2 quads (quadrillion British Thermal Units) of energy over the next 25 years. This is equivalent to the energy consumed by nearly 26 million American households annually. The standard is expected to save consumers $1 billion over the same period.  
Manufacturers will continue to sell 10 and 12 SEER units until their sizable inventories are depleted, and will continue to manufacture and sell parts to service the existing 8, 10 and 12 SEER units for the foreseeable future.  However, during the 2006 calendar year, the lower SEER inventories will deplete and manufacturers and distributors will then only be selling the new 13 SEER air conditioning units, which will be larger and more expensive.  There may also be additional costs associated with incorporating 13 SEER units with existing systems. A home warranty will help homeowners subsidize the high cost of upgrading their HVAC system to a 13 SEER.
 
Since the future costs of replacement of existing air conditioning systems will inevitably increase more than the usual cost of living, the home buyers and sellers need to be informed.