Cape Coral Real Estate News

Pros and cons of 9 bathtub materials

By Paul Bianchina
Inman News

Last month, we discussed some of the many options available when replacing a bathtub or a tub/shower combo.

But what we didn't look at were the many different material choices you have, and since that time I've gotten several questions from homeowners looking change out their bathtub, all with a similar dilemma -- "I'm not sure what material it should be constructed of."

Let's look at some of the different choices, and try to clear up a bit of the confusion.

To begin with, you might be surprised to find that you have more options than you would have thought. Which one you ultimately choose is going to come down to a combination of looks, comfort, ease of maintenance, and, of course, cost. Let's start with some of the more common options:

Fiberglass

Also known as FRP, or fiberglass-reinforced plastic, this is typically going to be the least expensive bathtub material. A fiberglass bathtub is made by forming layers of fiberglass into the desired shape, then coating it with Gelcoat resin.

The advantages are low cost, light weight, ease of installation, and a finish that can be repaired. On the negative side, fiberglass tubs are thin; they flex and don't have a stable feel; they're not very durable; and the finish is prone to fading, scratching and cracking. Personally, it's one of my least favorite materials.

Porcelain on steel

Also sometimes called enameled steel, this is another inexpensive and very common bathtub material. The tub is stamped from a thin sheet of steel, then finished with a layer of porcelain enamel. These tubs are durable and easy to clean. The finish is resistant to most common chemicals, and retains its gloss for a long time. They're also especially useful when replacing fiberglass or acrylic tub/shower units, as they fit in the same 5-foot opening and can be finished off nicely with a ceramic tile surround.

On the downside, they're heavier than fiberglass or acrylic; the surface can rust and chip under impact; and you're very limited in the number of shapes and sizes available.

Acrylic

Acrylic tubs use fiberglass sheets for reinforcement underneath vacuum-formed sheets of colored acrylic. The advantages are pretty much the same as for fiberglass, although acrylic tubs are more expensive.

Disadvantages are that the finish can scratch or discolor over time, although the better grades of tub finishes have now reduced that problem to a minimum. You also have a lot of choices of shapes, sizes and colors.

Acrylic is a good all-around choice, although it may lack a certain high-end appeal for some people.

Cast iron

If you're looking for a material that will last, this would be it. Cast iron tubs are made by pouring molten iron into a mold of the desired shape, then smoothing it and coating it with a thick layer of enamel.

It's probably the most durable tub available, and the finish is resistant to chipping, scratching and denting, as well as most types of chemicals. There are a number of different colors available, and there's a richness to cast iron that's hard to match. The heavy material also tends to retain the water's heat.

On the downside, these tubs are extremely heavy and require extra labor -- and often extra floor reinforcement -- to install. They're also typically going to be among the most expensive tubs on the market.

And now for some less common material options:

Solid-surface materials

Solid-surface materials are relative newcomers to the bathtub market. They're durable; they retain heat well; there are a variety of subtle, natural-looking colors available; and the finish can be repaired if needed. They can also be made in a variety of shapes and sizes.

On the downside, they're somewhat heavy and relatively expensive, and may require a long lead time to get.

Cultured marble

These tubs are made from crushed limestone mixed with resin, then finished with Gelcoat. You have a lot of options for color, size and style, and the Gelcoat finish used with cultured marble is more durable than that used with fiberglass. The cost typically falls somewhere between acrylic and cast iron.

Ceramic tile

Ceramic tile tubs can be made on site to whatever size and shape you desire. You have more design options with this material than any other. However, you'll have to deal with the maintenance of all that grout, and the irregular interior surface may not be the most comfortable to relax on with bare skin.

Stone and wood

You can custom order a bathtub from a variety of natural stone materials, including granite, marble, onyx, travertine, basalt, sandstone and other materials. These tubs are extremely heavy, and require special structural framing to support their weight.

You can also custom-order a bathtub made from teak and certain other woods. As you'd imagine, with any of these true one-of-a-kind pieces you get an unbeatable "wow factor," but it comes with a pretty high price tag.

And, in the case of wood and some of the stones, it's going to require a lot of maintenance in order to retain the tub's original beauty.

Remodeling and repair questions? Email Paul at paulbianchina@inman.com. All product reviews are based on the author's actual testing of free review samples provided by the manufacturers.

A very good friend of mine has a son that has been diagnosed with a rare tumor.  The tumor is so rare it is one of only about 100 known cases.  They are blessed in that tests reveal that it is not malignant, however, it is growing fast, is between the carotid artery and the jugular vein which will require very specialized surgery to remove.  Their son is in college and due to the high cost is not on his parents medical insurance and therefore is not covered for any medical bills, surgery or follow up treatments.

I know that times are really tough for many people but I am asking all that follow me, if at all possible, to donate whatever they can to help this family.  I'm also asking that you pass this on to everyone in your circle.  My circle isn’t huge but I know that you all can help take this viral.

Donations can be sent to:

The Brett Fund
c/o Pearsall Properties
1507 SE 47th Terrace
Cape Coral, FL 33993

Please, if you can do anything, anything at all, words cannot express what it would mean to them.

One last thing, please keep them in your prayers or add them to your prayer wheel or prayer list.

Buying after relocating may not be best financial move

By Dian Hymer
Inman News®

Some homeowners have been waiting for years for a better housing market and a good time to sell. Is it better to wait a few more years and see if you can realize a higher sale price, or sell now and move on with your life?

The motivation for selling is a key factor. Are you commuting to work several hours a day and the commute is killing you? Are your children grown and your home is now too big, in addition to being a burden to maintain? Is your home too small? Have you taken a job out of the area? Can you no longer afford to own your home? Or do you no longer want to pay the price it costs to own your home?

These are all good reasons for considering making a move. Not only do current market conditions enter into the equation, but making a move like this is usually more complicated than it was the first time you bought a home.

HOUSE HUNTING TIP: First, you need to find out the probable sale price of your home and access the state of the current home-sale market in your area. You also need to know what you can do to maximize the salability of your home. Then you should consider where you'll live next and how much that will cost.

If you don't already have one, find an experienced real estate agent who specializes in your area. Friends whose opinion you trust are the best source of agent referrals. Meet with your agent at your home and ask for a comparative market analysis. This will give you information about what homes like yours have been selling for in the current market.

You'll also want to know how long you can expect it to take to sell your home. How many homes like yours have sold recently? Are homes like yours in high demand? Or, is it located in a less desirable area that could mean a longer marketing time and, perhaps, a lower price than you were expecting?

Ask your agent to walk through your home with you and point out what should be done to make your home marketable. Homes that sell today are priced right for the market and are in move-in condition.

You want to make cost-effective improvements. If the kitchen and bathrooms are outdated, consider a cosmetic redo. Update paint, hardware, light fixtures and floor coverings, if necessary. Don't do a complete remodel unless you plan to stay in your home for years; otherwise, you won't recoup your investment.

Deciding where to move -- and when -- can be difficult. Some buyers can afford to buy a new home before selling, and prefer to make the move that way. Most repeat buyers can't afford to buy first. Others who can won't buy first due to market uncertainty and the stress of owning two homes at once.

The most prudent approach to making a move from one home to another is to sell first and rent if necessary until you find the right home to buy. By selling first, you will know exactly how much money you have to apply to a new home. Today's housing market is volatile. A dip in the market could shave tens of thousands of dollars, or more, off your selling price.

The other benefit of renting before buying is that you're under no pressure to buy the first listing you see. Interest rates are low and are expected to stay low through 2012. Prices are also low and aren't expected to move up much for the next several years.

THE CLOSING: This gives you time to find the home that will suit you for the long term.

Dian Hymer, a real estate broker with more than 30 years' experience, is a nationally syndicated real estate columnist and author of "House Hunting: The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide."

Copyright 2012 Dian Hymer

According to SWFLREIA here are the outstanding foreclsoure cases for Lee County Florida.  You can see that we have had an uptick since May of this year.  We are well below the '08 and '09 levels and even less the 2010 but this uptick means we have not seen the end.  We are closer now but the economy will still pay a huge part in our recovery.

In some areas, home prices could fall another 10%

By Dian Hymer
Inman News®

It wasn't long ago that some economic forecasters anticipated a turnaround in the home-sale market by 2012. When the economic recovery stalled and the housing market showed no sign of turning around quickly, projections for a housing recovery were pushed out two, three and even seven years.

Ken Rosen, chairman of the Fisher Center for Real Estate & Urban Economics at the University of California, Berkeley, believes that home prices have bottomed and are increasing in areas powered by strong job growth. However, even in places where prices are rising, they are not rebounding.

Not all economists agree that home prices have hit bottom; many anticipate another 5 percent price decline over the next two years.

Rosen gives a 65 percent probability that the recovery will be choppy. He forecasts a 5 percent chance of a strong recovery and a 30 percent chance of a double-dip recession. Factors holding a recovery back: a general sense of uncertainty that undermines consumer confidence; millions of unsold foreclosure properties; high unemployment; cutbacks in services; and tight credit conditions.

In some urban areas of the country, like Atlanta, Chicago, Miami and Phoenix, it may be more advantageous to buy than to rent. Apartment rents have been rising due to increased demand for rentals from people who have lost their homes in foreclosure, empty nesters trading down, people with jobs who have decided not to buy, and people who would like to buy but who can't qualify.

The same lenders who gave risky mortgages to buyers who couldn't afford them in 2005 and 2006 are now making it difficult for qualified buyers to get financing. It used to take a credit score of 620 or more to qualify for a conventional mortgage. In those days, loans to buyers with 5 to 10 percent cash down were readily available.

Today's buyers need a credit score of 760. Some conventional lenders require a 20 percent cash down payment. If the buyers are self-employed it can be more difficult to qualify. It's a great time to trade up, but most buyers can't qualify to buy the new home without first selling their current home.

One of the best things that could happen to the housing market at this point would be an easing of credit-qualifying standards -- not to the ridiculously low level of several years ago, but to a level that would enable more creditworthy buyers to take advantage of today's low interest rates and relatively low home prices.

Good news lately bodes well for the future, but you should anticipate continued volatility. The jobless rate dropped to 8.6 percent nationally in November, the lowest level in 2 1/2 years. The consumer confidence index rose 15 points in November, to 56. Although encouraging, if the economy were on solid ground we would expect a reading of 90.

HOUSE HUNTING TIP: It's a good time to buy a home in many areas of the country. However, it's only a good time if you buy for the long term and you have realistic expectations about what buying a home will entail. It will require maintenance, which costs money and takes time.

Your home is unlikely to be the cash cow that most buyers expected -- and many achieved -- during the bubble years. According to Robert Shiller, Yale University economist, home prices track, on average, with the inflation rate over long periods.

Renters with good incomes and good credit who are tired of moving could benefit from buying a home now. Just be aware that if we go into a double-dip recession, prices could drop another 10 percent in some areas. That's why you don't want to buy for the short run.

THE CLOSING: Buyers having trouble amassing 20 percent for a down payment should check with independent banks that have more flexibility in their qualifying criteria.

Dian Hymer, a real estate broker with more than 30 years' experience, is a nationally syndicated real estate columnist and author of "House Hunting: The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide."

Happy New Year to all of my Clients, Customers, Family, Friends, Followers and everyone that sees this.

I hope 2012 brings peace, joy and happiness to your life!

5 truths about mortgage shopping

By Jack Guttentag
Inman News®

Anyone completing a course in microeconomics would find great difficulty applying what he or she learned about competition to the home mortgage market. The market meets the major requirement of a competitive market in having many buyers and many sellers, but the benefits associated with competitive markets are conspicuously lacking. Instead of the expected single price that barely covers the sellers' costs and is available to all buyers, mortgage prices are all over the lot. Some borrowers pay competitive prices, but many pay more.

Why competition doesn't work

The core reason that competition in the home mortgage market doesn't generate the benefits that the textbooks lead us to expect is that most mortgage borrowers are required to select a lender before they know the price. No market will function well under that condition.

Some mortgage borrowers are not aware of this condition, and shop different lenders as if they could make a selection based on price. Most mortgage borrowers, however, don't try to shop; they select or are selected by a single lender, to the dismay of many observers. But the nonshoppers may instinctively realize what many experts have not fully grasped, which is that shopping in this market is largely futile.

I confess that it took awhile before I realized this myself. Over the years, I wrote several articles on "how to shop for a mortgage," which I am now in the process of revising. The corrected title will be more like "how to minimize the loss from having to select a lender without knowing that lender's price."

Why mortgage borrowers can't shop price

Multiple prices: The microeconomics textbooks assume that there is only one price that covers the buyer's payment obligation to the seller in full. In the case of mortgages, however, there are at least two prices: the interest rate and total lender fees. On adjustable-rate mortgages (ARMs) there are also rate caps, the rate index used, and the margin over the index. An interest rate all by itself means very little.

While multiple prices complicate shopping by borrowers, the difficulties would be surmountable if not for the additional problems noted below.

Changeable product: The textbook analysis of competition assumes that the product or service being sold can be precisely defined and doesn't change. If you price a horse but deliver a mule, as in "Fiddler on the Roof," the price doesn't mean anything.

In the case of mortgages, two critical factors affecting the price are not known with certainty until the borrower has selected the lender and applied for the mortgage. These are the credit score and loan-to-value (LTV) ratio, which are determined by the lender based on a credit report and property appraisal ordered by them.

While a preliminary price quote may be based on estimates provided by the borrower, that price is subject to change. Since the financial crisis, such changes have occurred with increasing frequency, and have been larger, in some cases leading to outright rejection.

Uncommitted price quotes: The textbook analysis of competition assumes that buyers can buy at the prices quoted by sellers. In the mortgage market, however, lenders have no obligation to lend at the price they quote until they lock, which may take days or even weeks. In the meantime, the quoted price is very likely to change with the market, which is very volatile. Quoted prices are reset every day and sometimes during the day.

Unsavory lender practices

The inability of borrowers to shop effectively is exploited by some lenders using a variety of unsavory practices.

Lowball scamming is the practice of quoting a price to a borrower below the price the lender is actually willing to accept. The purpose is to be selected by borrowers who believe they can shop price. Lowballing is endemic on Internet-based referral sites, which display price quotes by dozens or hundreds of lenders.

Market-volatility scamming exploits borrowers already onboard but not yet locked by taking advantage of changes in the market. If market prices increase, the borrower is charged the higher price, but if market prices decrease, the borrower is charged the price quoted earlier. In the second case, most borrowers are content to receive the price they were quoted earlier.

Property-valuation scamming exploits borrowers whose loans have been locked before their home appraisal has been received. If the appraisal comes in lower by enough to raise the loan-to-value ratio past a notch point where the price increases, the lender increases the price accordingly. But if the appraisal comes in higher by enough to reduce the loan-to-value ratio past a notch point where the price should decrease, the original lock price is retained.

Next week: Regulatory and market-based approaches to eliminating unsavory lender practices.

The writer is professor of finance emeritus at the Wharton School of the University of Pennsylvania. Comments and questions can be left at www.mtgprofessor.com.

Contact Jack Guttentag:
Email	Letter to the Editor

This appeared in the Daily News on Friday, November 5, 1949

ODE TO THE WELFARE STATE

Mr. Truman’s St. Paul, Minn., pie-for-everybody speech last night reminded us that, at the tail-end of the recent session of Congress, Representative Clarence J. Brown (R-Ohio) jammed into the Congressional Record the following poem, describing its author only as “a prominent Democrat of the State of Georgia”.

DEMOCRATIC DIALOG

Father, must I go to work?

No, my lucky Son.

We’re living now on East Street

On dough from Washington

We’ve left it up to Uncle Sam,

So don’t get exercised.

Nobody has to give a damn-

We’ve all been subsidized

But if Sam treats us all so well

And feeds us milk and honey,

Please, Daddy, tell me what the hell

He’s going to use for money.

Don’t worry, Bub, there’s not a hitch

In this here noble plan-

He simply soaks the filthy rich

And helps the common man.

But, Father, won’t there come a time

When they run out of cash

And we have left them not a dime

When things will go to smash?

My faith in you is shrinking, son,

You nosy little brat;

You do too damn much thinking, son,

To be a Democrat

9 ways to keep lid on energy bills

By Paul Bianchina
Inman News™

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No one likes wasting money, especially in these tough economic times. So it certainly makes sense -- dollars and cents -- to make a small investment of time and supplies to close up those heat-wasting air leaks around your home. It'll pay back big dividends in reduced energy bills and a warmer, more comfortable house this winter. So let's look at some of the areas where those drafts may be lurking, and see how to take care of them.

1. Doors and windows: This should be an obvious one. If you can see gaps between your siding and your windows or exterior doors, close them up with a bead of clear or paintable acrylic latex caulk. Larger gaps can be filled with foam backer rod before applying the caulking.

2. Exterior penetrations: Some of these areas are going to be obvious, while some may take a little bit of searching. Some examples of exterior penetrations where air can leak into the house include exterior faucets, dryer vents, exterior electrical outlets, exterior light fixtures, holes that have been drilled for phone and TV cables, conduit penetrations, exit points for plumbing drains, and penetrations for air conditioning lines. Closing these penetrations may require a variety of different techniques, including caulk, expanding spray foam, or, in the case of electrical boxes and fixtures, specific gaskets that are designed to fit the boxes.

3. Exhaust-vent covers: Dryer vents, range hood vents, bath fan vents, and other interior ventilation equipment typically terminate outside the house in a plastic or metal cover that has one or more louvers on it. The louvers are designed to be in the closed position whenever the fan is not in use, so that outside air doesn't leak in. Check all of these louvers to be sure they're closing completely, with no air leaks. If they aren't, you can adjust the spring tension to hold them closed more tightly; add foam weatherstripping tape for a more air-tight seal; or replace the entire vent cap with a new one.

4. Gaps around interior vents and recessed lights: Inside your home, heated air can be leaking out around that same ventilation equipment, where vent pipes pass through the walls or ceiling, or where vent covers meet wall and ceiling surfaces. Recessed light fixtures can also be real air-leakers. Around the vent pipes and recessed light cans, seal any gaps with caulking. For the vent covers and recessed light covers, remove the covers, then adjust the springs and/or add foam weatherstripping tape to create a tight seal between the cover and the ceiling.

5. Heat-duct penetrations: Gaps around heating-duct cans where they pass through the floor or wall allow cold air to enter from the crawl space, while gaps around ceiling-duct cans allow heated air to escape into the attic. To close those drafts, first remove the register, then use a combination of caulking and/or metallic duct sealant tape to close any gaps between the sheet metal cans and the floor, wall or ceiling surface.

6. Fireplaces and woodstoves: Lots of gaps can occur around these appliances. With a conventional fireplace, keep the damper closed except when burning a fire to prevent heated air from escaping up the chimney. Consider investing in a set of air-tight doors, which close off the air leaks and also make your fires more efficient. Look for gaps around woodstove and gas fireplace flue pipes, and air leaks around masonry chimneys. Use a metal collar if necessary around flue pipe penetrations, and seal gaps with heat-resistant sealant specially formulated for this application.

7. Attic and crawl space hatches: These can be real air losers if they're not weatherstripped, so take care of that with some foam tape. Make sure the hatches are insulated as well.

8. Interior doors to unheated spaces: If you have any interior doors that lead to unheated spaces, including basements, garages or attics, be sure the doors are weatherstripped to prevent air leakage. If possible, replace older, hollow-core doors with solid-core or, better yet, insulated metal doors.

9. Sill plates and penetrations: This one's not as easy to deal with, but it's well worth the effort to try to do whatever you can with it. Air can leak both into and out of the house through gaps where the sill plate meets the foundation or the siding, and around plumbing and wiring penetrations drilled through wall plates in various areas. If you have a gap between your siding and the bottom of your exterior wall, especially in older homes where the use of sill sealers was not a common practice, consider closing up this big air gap with a bead of caulking or expanding foam. In the basement, crawl space and attic, if you can access any of the pipes and wires that pass through the wall plates, seal the penetrations with expanding foam.

Remodeling and repair questions? Email Paul at paulbianchina@inman.com. All product reviews are based on the author's actual testing of free review samples provided by the manufacturers.

Contact Paul Bianchina:
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