Radon Advisory: Buying or Selling You Home

Radon has always been a hot topic in NH since there is so much granite bedrock in the State.

Radon is a colorless, odorless and tasteless gas that occurs naturally.  It is a radioactive gas that is normally found in bedrock.  NH home wells are often drilled into the bedrock so it is very common to test for radon levels at the time of buying a home.  Dug wells normally aren’t a problem and have very little to no radon.  36% of NH residences have a private well.  Radon released from building materials is usually inconsequential.  Radon can seep into a basement through cracks in the foundation if the house is built above granite ledge.  Radon can move to the air from the water source in your home through showers, humidifiers, etc.

According to the DES, “Radon is the leading environmental cause of cancer deaths in the U.S. and the leading cause of lung cancer in non-smokers.”  There is also an increase in stomach cancer from radon in drinking water.

Formerly, the Department of Environmental Services recommends that homeowners and buyers test the indoor air for Radon and consult with radon mitigation companies when radon exceeds 2,000 picocuries per liter in well water, the lowest advisory level in the U.S. 

Now, as of 3/14/16, the DES advises to look into treatment if there is more than 10,000 picocuries of radon per liter in well water. 

“There are no federal or state standards for radon in drinking water. However, there are public health advisories for radon in drinking water, including that issued by USEPA. NHDES recommends the following:

·         For private wells with radon concentrations at or above 10,000 pCi/L, the treatment of water is recommended in conjunction with mitigation of indoor air radon. Homeowners should consult with radon mitigation and water treatment providers.

·         For private wells with radon concentrations between 2,000 and 10,000 pCi/L, the treatment of water may be advisable if air concentrations in the home exceed 4 pCi/L.

·         When radon in well water is below 4,000 pCi/L, you should retest air and water every three to five years.”

For more information visit http://des.nh.gov/organization/commissioner/pip/factsheets/dwgb/documents/dwgb-3-12.pdf .

Sandy LeRette – Realtor® ABR – Better Homes & Garden Real Estate / The Masiello Group (Licensed Agent in NH) – 436 Amherst Street, Nashua, NH  03063  cell: (603) 661-7301 email: slerette@masiello.com

Bob LeRette – Better Homes & Garden Real Estate / The Masiello Group (Licensed Agent in MA & NH) - 436 Amherst Street, Nashua, NH  03063  cell:  603-438-2550  email:  ralerette@comcast.net

Solar Panels: Buying or Selling a Home through Fannie Mae

Who doesn’t want to save some money and help save the planet too?

Solar panels are hot right now (pun intended).  They are designed to absorb the sun's rays as a source of energy for generating electricity or heating.  One solar panel only produces a limited amount of energy, so most homes have multiple modules.  Solar panels can now be purchased or leased, but all, or at least most, are installed on your homes roof.  That’s where you have to think about what is right for you.

Are you planning on living in your home for the long-term or will you be selling five years down the road?  Fannie Mae mortgages will purchase or scrutinize a mortgage loan on a property with solar panels.  If the property owner owns the panels then standard eligibility requirements apply.  If the panels are leased there is a lot more to be aware of.

• Your investment in solar power will not be included in the appraised value of the property.
• The monthly lease must be part of the debt-to-income ratio.
• The lease agreement must include that all damage caused by the installation, malfunction, manufacturing defect and removal of the equipment is the responsibility of the owner of the equipment and are obligated to repair damage.

For more information, as always, your Real Estate Agent can guide you in the right direction to get all the information you need.

Sandy LeRette – Realtor® ABR – Licensed Agent in NH - Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH  03063  cell: (603) 661-7301 email: slerette@masiello.com
Bob LeRette - Realtor® Licensed Agent in NH & MA – Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH  03063  cell: (603) 438-2550 email: ralerette@comcast.net

Update on Government Shutdown and Real Estate

Update on Government Shutdown and Real Estate

Despite prior reports to the contrary, the Federal Housing Administration will not stop processing loan applications as a result of the government shutdown that began earlier this week. Instead, the U.S. Department of Housing and Urban Development (HUD)’s Office of Single Family Housing will continue to endorse new loans “in order to support the health and stability of the U.S. mortgage market,” according to its latest contingency plan.

Internal Revenue Service (IRS)

The IRS is closed and has suspended the processing of all forms, including requests for tax return transcripts (Form 4506T). While FHA and VA do not require these transcripts, they are required by many lenders for many kinds of loans, including FHA and VA, so delays can be expected if the shutdown is protracted. We have received indications that many loan originators are adopting revised policies during the shutdown, such as allowing for processing and closings with income verification to follow, as long as the borrower has signed a Form 4506T requesting IRS tax transcripts. On loans requiring a Form 4506T Fannie Mae and Freddie Mac have also adopted relaxed provisions allowing closings but subject to tax transcript verification before the GSE’s purchase the loans.

Source:  GBAR

Sandy LeRette – Realtor® ABR – Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH  03063  cell: (603) 661-7301 email: slerette@masiello.com

Bob LeRette – Div. Sales Manager/ Real Estate – Boston.com & The Boston Globe,  617-929-2104  email:  robert.lerette@globe.com

"The early bird gets the worm" applies to Real Estate too

"The early bird gets the worm" applies to Real Estate too - just not the worm part.

The number of homes and condos for sale across Southern NH is the lowest in recent history.  Any new listing that is priced right will be pounced on by perspective buyers.  If you're wait to see new listings online or in the newspaper, they will certainly be gone by the time you react. Forget about Open Houses - right now that's reserved for difficult properties or, worse yet, over priced.  Our property listings are under agreement within two weeks this year.

Serious buyers need an agent that will tell them what is "coming on the market".  This information allows you to do a drive-by before anyone else gets to see it.  Sandy has had cases where her clients have been able to avoid bidding wars and multiple showings, by Sandy knowing which agents have buyers and what towns and price range they are looking in.  The same holds true for buyers, not just sellers, working with Sandy.  Just this weekend, she had a client see a house coming on the market before anyone else.

In this market, working with an experienced agent is more important than ever.

Sandy LeRette – Realtor® ABR – Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH  03063  cell: (603) 661-7301 email: slerette@masiello.com

Bob LeRette – Div. Sales Manager/ Real Estate – Boston.com & The Boston Globe,  617-929-2104 em