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February 6th, 2012 
Mike Lynch
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Promise First Realty Inc., Brokerage
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Living with an older home.
Posted on Thu, 15 Sep 2011, 12:27:13 AM  in Home buying tips
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The charms of living in an older home can be many - history, style, craftsmanship, quirks. But there's no denying that living in such a home has its challenges. Maintenance can be tricky and expensive, especially if certain systems and features have been neglected over the years. Let's take a look at some common situations found in many older homes:

 

Basement leakage and water penetration is the number one problem with old homes and foundations.
Brick, block and stone foundations were not constructed with modern weeping tile systems.   If there was any tar on the foundation it is deteriorated.   Your best defence to reduce basement leakage is good grading near the foundation to drain water away and good eaves and downspout systems to drain water away.  The client needs to be educated that some leakage in an old foundation is likely to occur.

 

Out dated wiring is usually an issue in an old home.  Knob and tube wiring was used up until the 1940's.   The 1950's used ungrounded wiring and from the mid 1960's to late 1970's aluminum wiring was very common.   If the panel has been upgraded look for the Electrical Safety Authority sticker on the panel.   We have seen 100 amp panels installed on the old 60 amp service leads.  Wiring issues can lead to insurance problems for the purchaser.
Energy inefficiency has been very topical the past few years.  Most older homes were constructed with single-pane windows that can be quite drafty and lead to condensation problems.  Older homes usually have little  insulation in the attic, walls and basement and the heating systems can be quite old.    Thankfully the government has re instated the Eco Energy program to assist with improving the energy efficiency in older homes.
Many times the old homes that were on oil have now been converted to gas.The question is were was the old oil tank?  Was it in the home, outside or buried in the ground?
If your home has older water pipes, have them checked to identify the material and determine if they need to be replaced. Some older materials such as galvanized steel, iron, and even lead are subject to are still in use today even though new construction does not allow them. Replacement options include copper and CPVC piping.
Old fireplaces rarely meet current standards. A pre listing inspection when listing an old home is a good investment to help the deal proceed smoothly.  If there is vermiculite in the attic or mold in the basement we can provide information on testing and cleanup  as needed.
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Stocks Or Real-estate
Friday, 12 August 2011, 07:31:15 PM

It"s only a few days after the downgrading of the U.S. credit rating and the stock market is (dont say "crashing" thats taboo) shall we say, uhumm, a little worse than a "correction" in the market. Whatever the terminology that they want to use, It is STILL and always will be better to invest in REAL-ESTATE over the stock market. That is only if you want to see sunnier days aheadCool .

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accessing info on homes for sale from my website
Monday, 01 February 2010, 12:37:02 PM
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Hello Everyone! I"m noticing alot more activity and web inquires from my website lately than ever before. It's not just the market heating up but It's also many more users accessing info on homes for sale on the net.
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Advice for home buyers
Posted on Sun, 31 Jan 2010, 07:57:12 PM  in Home buying tips
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The real estate market is changing very quickly once again. As interest rates are on the verge of increasing, buyers are getting off the fence and taking advantage of record breaking low interest rates. This trend coupled with the economy picking up steam and confidence that the storm has past we are seeing record number of sales which ultimately drives prices up with it, which in turn will create more buyers in the market as so they don't miss the bus. Good advice for buyers is to buy now, we do not know when we will see real estate opporitunities like this again.
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