Category: Real Estate

9 Ways to Unclog Your Kitchen Sink Drain | Home Matters

DIY home projects are great for saving money and enjoying a good challenge, but these household projects are better left for professionals.

It can be a helpless feeling when the kitchen sink won’t drain. With water backing up and a counter full of dirty dishes waiting to be cleaned, it may be tempting to reach for the phone and dial the plumber. Before you do, read these easy, do-it-yourself ways to unclog that drain.

1. Boiling water

This is the easiest and least expensive solution of all, which makes it the best one to try first. Place a kettle or pot of water on the stove and bring to a rolling boil. While you’re waiting for the water to heat, remove as much standing water from the sink as you can, using a mug or small pot to bail out the water. Then, pour the entire kettle of water into the sink and wait. If the water stands in the sink and the clog doesn’t move, give the water time to cool and remove it to try again. You may need to repeat the process several times to move the clog, but this often works on many types of stoppage.

2. Disposal

Check to make sure it’s not your garbage disposal that’s causing the problem. A clogged disposal can stop up the drain, so run the disposal to see if that clears the clog. Then inspect it to make sure it’s running correctly. If the disposal has overheated, you may need to flip the switch found on the side or bottom of the unit underneath the sink.

 

3. Salt and boiling water

After removing standing water from the sink, pour about ½ cup of table salt down the drain before you pour in the boiling water. Let it sit for a few minutes, and then flush with hot water to clear the mixture.

4. Vinegar and baking soda

 Again, remove standing water first. Pour about a cup or so of baking soda into the drain, followed by an equal amount of white or apple cider vinegar. The solution will bubble, but when they subside, put the stopper in and wait about 15 minutes. Next, run hot water to see if the clog clears. Repeat if needed.

5. Baking soda and salt

This is another combination that can work on sink clogs. Mix about a cup of baking soda with a half-cup of salt, and pour down the drain. Let the mixture sit for several hours, then flush with boiling water. You can repeat this process if it doesn’t work the first time.

Looking for an affordable home warranty plan, shop:
– Home Warranty Plans
– View Home Warranty Coverage
– Home Appliance Warranty Plans

6. Plunger

 If these combinations aren’t successful in unclogging your sink, reach for a common household plunger. If you have a double sink, first seal off the second side with a wet cloth or a stopper. You’ll need to create a tight seal around the plunger, so fill the side of the sink you intend to plunge with enough water to cover the bell of the plunger. Place the plunger firmly over the drain and plunge vigorously several times. When you hear the suction clear the clog, remove the plunger and flush the drain well with warm water.

7. P-trap

 It may be necessary to clean your kitchen drain’s P-trap to clear the clog. The P-trap is at the curve of the drainpipe under the sink, usually inside a cabinet. Place a pan or bucket underneath the drain to catch any water or debris that may fall out. Unfasten the P-trap from the drainpipe and clear out anything that is stuck. Then replace and run water through it.

Related: A Guide To Leaks, Clogs, And Other Plumbing Issues You Can Fix

8. Plumber’s snake

Sometimes called an auger, this handy tool can clear clogs that may be stuck further down the system. You’ll have to disassemble the drainpipe and P-trap that runs underneath the kitchen sink to expose the “stub pipe” or “stubout” that travels behind the cabinet wall. This is where you insert the snake into the pipe until you feel resistance to break up the clog.

9. Coat hanger

If you don’t have a plumber’s snake, you can use a wire coat hanger by straightening it. Of course, it won’t reach as far as a plumber’s snake would, but it may be long enough to reach some clogs. Insert it into the kitchen drain or stub pipe to push through or pull out the clog if you can reach it. Be careful not to scratch your sink with the wire.

To keep your sink smelling fresh and running clear, pour in equal parts of vinegar and baking soda on a regular basis. For routine cleaning, you’ll just need about one-half cup of each. Let the mixture sit for a few minutes before running some warm water down the drain. You can also use lemon juice for the same purpose.

Of course, it’s always easier to avoid clogs in the first place. If you have a kitchen garbage disposal, don’t overload it. Feed items in a little at a time, and wait until they grind and run through completely before adding more. Never put bacon grease, coffee grounds or oils down your kitchen drain, and always make sure you run plenty of water down the drain after each use. It’s important to know how to maintain and care for your all your home’s plumbing components and systems to keep things running smoothly.

Mortgage Rates Fall for Third Straight Week | Realtor Magazine

 

 

© National Association of REALTORS®

 

Borrowers continued to get relief with mortgage rates this week, as the 30-year fixed-rate mortgage sank lower for the third consecutive week. Mortgage rates are now at their lowest level since mid-April.

“Backed by very strong consumer spending, the economy is red-hot this month, which is in turn rippling through the financial markets and driving equities higher,” says Sam Khater, Freddie Mac’s chief economist. “Unfortunately, the same cannot be said about the housing market, where it appears sales activity crested in late 2017. Existing-home sales have now stepped back annually for the fifth straight month, and purchase mortgage applications this week were barely above year ago levels.”

Khater notes that “it is clear affordability constraints” have cooled the housing market, particularly in expensive coastal markets. “Many metro areas desperately need more new and existing affordable inventory to break out of this slump,” he notes.

Freddie Mac reports the following national averages with mortgage rates for the week ending Aug. 23:

• 30-year fixed-rate mortgages: averaged 4.51 percent, with an average 0.5 point, falling from last week’s 4.53 percent average. Last year at this time, 30-year rates averaged 3.86 percent.
• 15-year fixed-rate mortgages: averaged 3.98 percent, with an average 0.5 point, falling from last week’s 4.01 percent average. A year ago, 15-year rates averaged 3.16 percent.
• 5-year hybrid adjustable-rate mortgages: averaged 3.82 percent, with an average 0.3 point, down from last week’s 3.87 percent average. A year ago, 5-year ARMs averaged 3.17 percent.

Jumbo Loans May Be More Practical for Average Buyers | Realtor Magazine

Large-balance mortgage loans called “jumbo” loans are becoming less expensive than conforming loans. Traditionally, jumbo loans have carried higher interest rates, but since mid-2013 that has been gradually changing. Jumbo loan rates have been less expensive to borrow than a conforming mortgage loan by an average of 33 basis points during the first quarter, according to CoreLogic, a real estate data firm, on its Insights Blog.

 

© alashi – DigitalVision Vectors/Getty Images

 

In response, jumbo loans have been growing. The share of jumbo loans has reached its highest rate since 2009 at about 15 percent of home-purchase originations, CoreLogic reports. For comparison, in 2009, the jumbo share was just 6 percent.

Jumbo loans are those that exceed the high-balance conforming loan limit, which the Federal Housing Finance Agency set at $453,100 for most of the U.S. in 2018. Areas designated as high-cost may stretch up to $679,650.

CoreLogic researchers say one of the reasons that the jumbo-to-conforming rate difference has seen the gap decline is the increase in guarantee fees, also known as g-fees. These are fees on loans bought by Fannie Mae and Freddie Mac for conforming and high-balance conforming loans. The average g-fee has nearly tripled since 2010, jumping from 22 basis points to 57 basis points in 2017.

“Since jumbo loans are too big to be purchased by Fannie Mae and Freddie Mac, those fees have little or no impact on the note rate of the jumbo loans,” CoreLogic notes on its Insights Blog. “Fannie Mae and Freddie Mac are pricing the credit risk of conforming loans, while banks are pricing the credit risk of jumbo loans. Thus, increase in guarantee fees has the effect of raising interest rates for conforming loans with little or no impact on the mortgage rates for jumbo loans.”

Researchers also note that lenders are requiring higher credit standards to get a jumbo loan, which has lowered the credit risk to lenders and given them more incentive to issue them. The average credit score for buyers with a 30-year fixed-rate jumbo loan is 18 points higher than for buyers with conforming loans.

Existing-Home Sales Reach Slowest Pace in 2 Years | Realtor Magazine

Existing-home sales slowed for the fourth consecutive month in July, reaching their most sluggish pace in more than two years, the National Association of REALTORS® reports. The West was the only major U.S. region to see an increase in sales last month.

Total existing-home sales, which include completed transactions for single-family homes, townhomes, condos, and co-ops, fell 0.7 percent month over month to a seasonally adjusted annual rate of 5.34 million in July. Sales are now 1.5 percent lower than a year ago.

Rising home prices may be prompting would-be home buyers to pull away, says NAR Chief Economist Lawrence Yun. “Led by a notable decrease in closings in the Northeast, existing-home sales trailed off again last month, sliding to their slowest pace since February 2016 at 5.21 million [units],” Yun says. “Too many would-be buyers are either being priced out or are deciding to postpone their search until more homes in their price range come onto the market.”

Yun notes that a steady climb in home prices over the past year—along with an uptick in mortgage rates this spring—is cooling sales. “This weakening in affordability has put the most pressure on would-be first-time buyers in recent months, who continue to represent only around a third of sales despite a very healthy economy and labor market,” he says. First-time buyers comprised 32 percent of sales in July, down from 33 percent a year ago.

Here’s a closer look at some key indicators from NAR’s July housing report:

• Home prices: The median existing-home price for all housing types was $296,600, a 4.5 percent increase from a year ago.
• Inventories: Total housing inventory fell 0.5 percent to 1.92 million existing homes available for sale, unchanged from a year ago. At the current sales pace, unsold inventory is at a 4.3-month supply.
• Days on the market: Fifty-five percent of homes sold were on the market for less than a month. Properties typically stayed on the market for 27 days, down from 30 days a year ago. “Listings continue to go under contract in under a month, which highlights the feedback from REALTORS® that buyers are swiftly snatching up moderately-priced properties,” Yun says. “Existing supply is still not at a healthy level, and new-home construction is not keeping up to meet demand.”
• All-cash sales: All-cash transactions compromised 20 percent of sales, up from 19 percent a year ago. Individual investors tend to account for the biggest bulk of cash sales. They purchased 13 percent of homes, unchanged from a year ago.
• Distressed sales: Foreclosures and short sales accounted for 3 percent of sales, down from 5 percent a year ago. Broken out, 2 percent of sales were foreclosures, and 1 percent were short sales.

California homeowners lead the U.S. in being home equity rich | The Sacramento Bee

Boosted by soaring home prices, California homeowners are now sitting on the richest vein of home equity in the nation, hundreds of thousands of dollars per home in most cases, an analysis shows.

More than 43 percent of Golden State homeowners with mortgages qualify as “equity rich,” meaning those owners’ homes are now worth at least twice their mortgage balance. And fewer than 4 percent are now deeply underwater on their mortgages, far lower than the national 10 percent average.

The message is twofold: California real estate has pulled well beyond the carnage of the 2007 to 2011 housing collapse. And it has done it in a big way compared to the rest of the United States, to the point of being slightly worrisome, some real estate watchers say.

“That’s is great news for homeowners who are becoming equity rich, but it is a sign of that excess we tend to see in the California market,” said Daren Blomquist, a vice president with Attom Data Solutions, an Irvine-based real estate data company that compiled the mortgage data.

Attom defines equity rich as those whose home is worth twice what they owe on their mortgage. A homeowner with a $200,000 mortgage is equity rich if the home value is $400,000 or more. Conversely, a homeowner is considered seriously underwater if his or her mortgage is 25 percent higher than the home value, such as a home that is worth $100,000, but carries a $125,000 mortgage.

 

 

In the Sacramento region, 34 percent of homeowners have hit the “equity rich” mark, not as many as in the state’s booming coastal economies, but easily above national averages. The region’s seriously underwater number is slightly more than 4 percent.

Attom collects the mortgage data from most homes to track the ripple effect of the mass housing recession that hit the nation a decade ago. The company does not collect data from ZIP codes with fewer than 2,500 homes with mortgages. It also does not include homes without a mortgage.

The data show the nation as a whole is recovering from the housing collapse, but the results are uneven.

 

 

“The share of seriously underwater properties has dropped well below 10 percent in bellwether housing markets such as California, Washington, Texas, Colorado and New York, but the underwater rate remains stubbornly high in markets where price appreciation has not been as strong during the housing recovery of the last six years,” Blomquist said.

Mid-sized “rust belt” cities that lack jobs or growing populations have the highest underwater numbers, he said.

In some areas of California, the “equity rich” numbers dwarf the national average of 24 percent. Most of the wealthiest are in the Bay Area, including 72 percent in San Jose, the heart of Silicon Valley, and 61 percent in San Francisco.

 

 

The best-off homeowners in the Sacramento region are in the city of Davis, where 57 percent are equity rich, followed by South Lake Tahoe, at 42 percent, according to Attom data.

Should Listing Photos Be Removed After the Sale? | Realtor Magazine

Some home buyers express concern that photos of their properties continue to live on real estate websites after they’ve closed on the purchase, and they’re asking real estate professionals to help take them down, citing privacy and security issues. In a column in Chicago’s Pioneer Press, a buyer named “Deborah” wrote about her efforts to get the listing photos of her home removed after she bought it. Deborah says the seller’s agent refused her immediate request, saying other real estate companies like to see the photos and use them as comparables and for appraisals.
 

 

© pbombaert – Moment/Getty Images

 

But Deborah was concerned that the interior of her home was still viewable. In the column, she calls for the industry to launch a new provision for home buyers so that they can opt out of keeping listing photos online indefinitely—similar to a “Do Not Call” list.

Generally, secondary photos of sold properties can be “suppressed” from an MLS’s data feed to third parties at the listing agent or managing broker’s request. However, the primary listing photo—which most often is an exterior shot of the property—likely will remain available to view.

Lesley Muchow, deputy general counsel for the National Association of REALTORS®, says homeowners can request that third-party sites remove property photos that are still visible after closing. Homeowners also may want to ask their agent to intervene in getting photos suppressed from the MLS and its feeds.

Redfin: Bidding Wars Fuel Surge in Home Prices | Realtor Magazine

Home buyers are bidding up prices in some markets where inventories remain tight, particularly out West, according to a new report by real estate brokerage Redfin. Redfin found that California has four out of the top six cities with the hottest housing competition, while New Orleans has the least competitive market nationwide. The outbreak of bidding wars is what’s causing a home price surge in some markets, the brokerage says. 

 

© photocanal25 – DigitalVision Vectors/Getty Images

 

“For buyers, competition is challenging,” Rachel Musiker, Redfin spokeswoman, told CNBC. “To win, they will likely have to raise their offer price and waive contingencies, and it might take several months and several bidding wars before they find success.”

Places within commuting distance from busy hubs—such as Silicon Valley—are experiencing an increase in workers looking for affordable homes. Most selling homeowners receive multiple offers, which move within a week or less of going on sale, Musiker said to CNBC. Redfin evaluated which markets, with populations of at least 200,000, are seeing some of the most competition lately.

In the following markets, the majority of homes are being sold with multiple offers and sometimes with waived contingencies too:

• Fremont, Calif.
• San Jose, Calif.
• Seattle
• Oakland, Calif.
• Aurora, Colo.
• San Francisco

Water Heater Life Expectancy & Troubleshooting Tips | Home Matters | AHS

The average electric hot water heater can last between 8 to 12 years. Here are 6 signs to help extend your water heaters life expectancy.

Whether washing a load of clothes or taking a quick shower, we’re used to having plenty of hot water ready whenever we need it. You can expect the average electric hot water heater to last between 8 to 12 years.

Whether you have gas or electric, sometimes things can go wrong and that once overlooked modern luxury can suddenly become a major headache. The following early warning signs will help you identify if your hot water heater is in need of repair or replacement.   

6 Signs to Replace a Water Heater

Rusty Water

Your hot water heater is susceptible to corrosion. It’s true, that steel tank can and will eventually give way to rust. If you’re seeing rusty water, your hot water heater is sending you a clear sign that leaks could be on their way. Be aware – rusty water could also be a sign of corroded pipes. Either way, rusty water is a precursor to bigger problems and should be addressed immediately.

 

No Hot Water

While finding yourself in the middle of an ice-cold shower can be quite a wake-up call, there are other possibilities. First of all, your pilot light could be out. Second, your circuit breaker could be tripped. If both of those are fine, your heater could be at the end of its lifecycle.

Warm Water

Warm water is nice, but you didn’t buy a Warm Water Heater. If your water temperature is taking a dive, your heating element could be in danger of going out. Make sure your thermostat temperature is between 120 to 140 degrees, anything lower could provide warm, but not hot, water.

 

Noise

Banging, clanging, thumping – any loud, unexpected noise is a bad sign. As your hot water heater ages, you might hear slight noises as your hot water heater warms up, but pronounced sounds could be indicators of larger issues such as sediment build up in the bottom of the tank. As sediment builds up it can wear your heater down, causing inefficiency and accelerated wear and tear.

 

Leaks

As time moves on and your hot water heater reaches the end of its lifecycle, the odds are you’ll be looking at a leak. Or leaks. After thousands of heating cycles, the inner-body of the tank will succumb and begin to expand. While the initial cracks and fissures may be small, they will widen with each ensuing cycle, resulting in costly leaks.

If you do find yourself in a situation where a new hot water heater is needed, take a moment to review your options. Maybe this is a chance to upgrade to a new tankless heater?  This is also a good opportunity to review your water heater warranty coverage. When you invest in an American Home Shield you will ll enjoy robust coverage for your water heater. Many parts and components of your water heater are covered. By staying informed and aware of water heater issues, you can avoid nasty leaks and cringe-inducing cold showers. 

Mortgage Rates Ease for Second Consecutive Week | Realtor Magazine

Borrowers had slightly more relief with mortgage rates again this week. The 30-year fixed-rate mortgage rate dipped again, averaging 4.53 percent, Freddie Mac reports.

“The stability in borrowing costs comes despite the highest core inflation rates since 2008 and turbulence in the currency markets,” says Sam Khater, Freddie Mac’s chief economist. “Unfortunately, this pause in rates is not leading to increasing home sales.”

Last week, mortgage applications for home purchases once again trailed levels from last year. “It’s clear that in some markets the combination of ascending home prices, limited affordable inventory, and this year’s higher rates are curtailing home buyer demand,” Khater says.
Freddie Mac reports the following national averages with mortgage rates for the week ending Aug. 16:

• 30-year fixed-rate mortgages: averaged 4.53 percent, with an average 0.5 point, falling from last week’s 4.59 percent average. Last year at this time, 30-year rates averaged 3.89 percent.
• 15-year fixed-rate mortgages: averaged 4.01 percent, with an average 0.5 point, dropping from last week’s 4.05 percent average. A year ago, 15-year rates averaged 3.16 percent.
• 5-year hybrid adjustable-rate mortgages: averaged 3.87 percent, with an average 0.4 point, down from last week’s 3.90 percent average. A year ago, 5-year ARMs averaged 3.16 percent.

  

   

Millions of Consumers Getting a Credit Score Boost | Realtor Magazine

An overhaul in how several major credit reporting agencies factor in negative credit information is prompting millions of consumers’ credit scores to rise. Collection events were struck from 8 million consumers’ credit reports in the 12 months ending in June. The New York Federal Reserve reported Tuesday that consumers who had at least one collections account removed from their credit reports are seeing an 11-point increase to their scores. 
 

 

© alphaspirit – iStock / Getty Images Plus

 

Critics have long claimed such dings to scores are prone to errors or that they’ve unfairly kept many out of the borrowing market. Equifax, Experian PLC, and TransUnion have all agreed to revamp reports, which stems from a 2015 settlement with state attorneys general on the matter. In the settlement, the firms agreed to remove some non-loan related items that were sent to collection firms, such as gym memberships, library fines, and traffic tickets. They also agreed to strike medical-debt collections that have been paid by a patient’s insurance company.

The majority of consumers who benefited from the recent changes are those who had credit scores below 660 before the collection events were removed, according to the New York Fed.

This could be good news for potential home buyers, as better credit scores are a big factor lenders use in granting cheaper rates for mortgages. And relatively small shifts in scores can make a big difference on loan affordability. A recent study from LendingTree showed that consumers who can raise their credit scores from “fair” (580-669) to “very good” (740-799) could potentially save $29,106 in mortgage costs.