over 3/4 of new homes include 2-car garage or larger.
Source: National Association of Home Builders,
Housing Facts, Figures & Trends – May 2007
When a home owner owes the bank more than they can obtain in the sale of their home under the current market conditions, and, they do not have the funds to bring to closing in order to sell the house; the home owner and the bank may agree on a sale price that is short of the amount owed to the bank in conjunction with a loan for the unpaid balance.
If you (or someone you know) are considering this type of transaction, you ought to hire a REALTOR® who specializes in these types of transactions, as they are not simple.
In addition, you ought to consult an attorney, as these transactions can carry enormous liability if not done right, and a CPA who can clarify any tax disadvantages inherent in the transaction.
Life Expectancy of Home Components
Component |
Life in Years |
Component |
Life in Years |
DECKS |
|
PLUMBING |
|
In dry areas |
20-25 |
Cast Iron Waste Pipe |
100 |
In South |
10-15 |
Concrete Waste Pipe |
100 |
In North |
20-30 |
|
|
|
|
ROOFING Adhesive |
7 |
DOWNSPOUTS |
|
|
|
Aluminum |
30 |
ROOFING Material |
|
Copper |
100 |
Asphalt |
20 |
|
|
Clay/Concrete |
50+ |
FLOORING |
|
Coal & Tar |
30 |
Carpet |
8-10 |
Copper |
50+ |
Linoleum |
25 |
Fiber Cement |
25 |
Natural Wood |
100+ |
Simulated Slate |
50 |
Marble/Slate/Granite |
100 |
Slate |
50+ |
Vinyl |
50 |
Wood |
30 |
|
|
|
|
GUTTERS |
|
SIDING |
|
Aluminum |
20 |
Brick |
Lifetime |
Copper |
50+ |
EngineeredWood |
Lifetime |
Galvanized Steel |
20 |
Fiber Cement |
Lifetime |
|
|
Manufactured Stone |
Lifetime |
HVAC |
|
Stone |
Lifetime |
Air Conditioners |
10-15 |
Stucco |
50-100 |
Electric |
15 |
Vinyl |
Lifetime |
Furnaces |
15-20 |
|
|
Heat Pumps |
16 |
WINDOWS |
|
Hot Water Heaters |
15+ |
Aluminum |
15-20 |
|
|
Wooden |
30 |
Source: Study of Life Expectancy of Home Components by National Association of Home Builders and Bank of America Home Equity
Top 10 Reasons to Hire a REALTOR®
- We price & market your property accurately so you won’t miss out on the most important first wave of buyers.
- We work only with pre-qualified buyers.
- We have knowledge of local real estate laws and regulations.
- We take the “personal and emotional” out of the negotiation.
- We help educate you on what you actually know, what you might think you know, and what you don’t know you don’t know.
- We help you obtain a better return on your investment.
- We help you obtain a faster sale.
- We manage the sale of your property so that there is less inconveniences to you.
- We provide you with increased safety as we manage or conduct the showings and open houses.
- We follow a strict code of ethics for the protection of our clients, customers, general public and other REALTORS®.
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