January 2010 - MLS Codes
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I am thinking of buying another house; it's hard not to pass the 6,500 credit/cash in the down market. Realtor sends me a daily update on properties that meets my criteria. The listing is full of codes that I don't understand.
These are interesting codes to know;
One can make offer under these codes
____ NEW (I think it stays new for 10 days); then
____ ACT (active listing);
____ PCH (price change - up or down? who knows, new code lasts for 10 days? then back to ACT)
____ BOM (back on market; house not sold per previous contract;
new code lasts for 10 days, then back to ACT
Want to make a good deal?? Look for
____ DOM Days on market; either the seller lowering listing price or you can drive for a bargain
When status changes to these codes, then it's either "stand by" or going "bye-bye"
____ AO (active option); agreement has reached; but not finalized
____ PDB (pending backups); seller still accepts offers while agreement is being finalized;
Just in case the original contract falls apart.
____ PND (Pending); agreement is finalize and working out the payment and transfer of ownership
The typical sequence ACT, AO and PND, then SOLD
____ ACT RFR (Right to first refusal); to me- it's same as Pending Backups;
Just in case the original contract falls apart.
When status changes to these codes, no one knows what's going on; it can be either "stand by" or going "bye-bye"
____ WDN - Listing withdrawn
____ CAN - Listing is cancelled (same as WDN)??
____ EXP - Listing has expired;
February 2010 - Hidden costs of owning a house
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It's
wonderful to own a newly constructed house, it typically implies fewer
items going bad and less maintenance tasks. But, it's a bid shocking
that after lived 15 years in a new house, the repairs starts to shows up
in the monthly expense log.
My
guess on budgeting home maintenance activities runs about $1800 a year,
or add $150 on to your monthly mortgage payment and property
tax/insurances.
$550 Outside (Roofing, Fencing)
$620 Plumbing, Heating & Cooling
$240 Appliances
$330 Inside
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$1740 Yearly
Outside: $550/yr
- $2400 Paint job (15 years)- for a 2400 sq ft house ($160/yr)
- $6000 Roofing (25 years) - ($240/yr)
- $1800 Fence Repairs (20 years) - assuming your neighbors will share costs ($90/yr)
- $60 Sprinkler fixes (1 year) it happens all the time ($60/yr)
Inside (heating cooling, plumbing) $620/yr
- $6000 Air conditioning, condenser & evaporator (15 years) - it's best to repair them in pairs to maximize the energy efficiency. ($400/yr)
- $3000 Heater element & blower unit (30 years) - these two goes out about the same time ($100/yr)
- $600 Water Heater (20 years) - It's expensive to have these installed by the pro ($30/yr)
- $400 Facet/Toilet Repairs (20 years) - it wears out too ($20/yr)
- $500 Toilets (25 years) - I don't know why, but it seems we all get tired of using same toilet ($20/yr)
- $1250 Plumbing drain lines (25 years) - as the house gets older, so as the draining system ($50/yr)
Inside (appliances) $240/yr
- $1200 Refrigerator (20 years) - Even though some of the problems can be repaired, but the improvement in energy efficiency out weights the repairs ($60/yr)
- $600 Dishwasher (15 years) - It doesn't matter whether the dishwasher see any action or not, it seems to go out on the clock ($40/yr)
- $900 Washer & Dryer (15 years) - . The older w/d like Kenmore seems to last a lot longer the newer . ($60/yr)
- $800 Cooktop/range/oven-Microwave oven (20 years) - replacing switches or fixing control panels are expensive ($40/yr)
- $300 Range hood (30 years) Once they get old, the performance goes down ($10/yr)
- $150 Garbage Disposal (15 years) - it's like dishwashers, it goes out on the clock ($10/yr)
- $400 Water softener (20 years) - it's also expensive to run the equipment ($20/yr)
Inside (non-appliances) $330/yr
- $3750 Flooring/Carpet (15 years) - the wood floor or other surfaces may be more durable, but they also cost more to replace ($250/yr)
- $1600 Attic Insulation (20 years) - it seems like the blow-in type of insulation loose it's performance over time ($80/yr)
