helppls's Profile
- Help Pls
- contact me at helpplsnyc@gmail.com
Author's Posts
November 12, 2008
Code reqs. for finished ceiling required over furnace area?
Is a finished ceiling required over the boiler/furnace for one-family homes?
There is a chance that the seller will allow his basement ceiling above the furnace area to be torn down for a thorough termite inspection. (The other 2/3rds of the basement has had extensive damage and beams/posts replaced so we are very wary.) We don’t intend to replace the ceiling right away, unless I find out that an inspector will cite it as a violation and not allow the house to close or something… I am a first time homebuyer so I am not sure who walks through now to look at stuff except the appraiser maybe?
My friend mentioned in passing that his mom’s house received a violation when they poked holes in the ceiling to thread some conduit and it has me thinking…
In addition, are there any mortgage stipulations that would require electrical violations, asbestos and termite issues to be resolved? The seller wants money in escrow to replace the ceiling in the event we cannot come to agreement with the damages if there is any... I am not liking this at all since any buyer would want the same verification...
Thanks!
October 29, 2008
What Mortgage rates are you seeing?
Our mortgage broker quoted us 6-3/8 yesterday.
I walked by a Countrywide office today. There was a sign on every associate's desk, "Today's Rate 3.9%."
Can it really be?
Perhaps its not for mortgages but a different kind of loan? I guess I could go back and ask about the details ...
October 22, 2008
TERMITE damage, shady structural work, cont'd
I am having trouble replying to threads for some reason - have lost already! The first part of my problem is here:
http://www.brownstoner.com/forum/archives/2008/10/termite_damage_1.php
or
http://tinyurl.com/5tonza
Thanks for the responses so far. Anyway there are two issues here, structural and termite, both of which has been done by the same person. oy. We called the exterminating guy today and he was curt, not really willing to go into details about anything. Oddly the inspection paper had a typed 2002 which was crossed out and replaced with a “8” by hand…. This guy also said he started treating the house in 2002 but only did the structural work this year 2008. Does that make any sense to anyone? If he was treating the problem since 2002, how did things get so bad during that 6yrs which would lead to this structural replacement?
The structural part, I’m posting a picture of structural work that was done. The house is 21wide and the picture you are seeing is at the junction of probably 19ft + 2ft. I don’t know why they had to split the span. They double up with two pieces of 3x8 but did not bolt them together. Now the inspector said the beams should be lag-bolted to each other. I kind of think a plate would be good too at the junction too, no?
Image here: http://tinyurl.com/6pvf26
The termite part, how are these test performed? Are they done just visually and banging a screwdriver into the wood? How are subsequent assessments made after treatment has occurred? Here is the ceiling above what is probably the most moist part of the basement.
Image here: http://tinyurl.com/63s25y
It looks like the old construction of lath and plaster. Obviously no one has taken it down so how can the exterminator be sure there are no longer any active termites?
Anyways does it sound prudent that we shell out the money to hire our own termite inspection? Assuming the owner will allow a more invasive inspection? If he does not, I should be prepared to walk away no?
Are we being overtly cautious? conscientious?
October 17, 2008
TERMITE damage, shady structural work?
We're looking to buy a 2-story rowhouse with a poured concrete basement and just had a home inspection done. Bad news, there looks like was extensive termite damage and three wood beams were removed and replaced along with a new steel post (poured into the concrete foundation.)
Now, structural post work like this, does this need to be signed an engineer, filed and inspected?
(I would guess this did not happen here as our home inspector says there were were no lag bolts sandwiching the beams together AND there was no plate to joint the beams where they were split right above the post plate.)
Anyway, we got 3 pieces of paper from the owner now as a disclosure. One is an inspection report date 5/19/08 with recommendations. One is a cost estimate for $10,000 from 5/22/08 which mentions removing ceiling tiles to get to certain rotted 3x8 beams. It lists treatment with Bora Care. AND ODDLY ENOUGH, it says “five year warranty on above structural repair work.” It does not elaborate anymore what the structural work is.
Does this sound super shady? Should a exterminator be doing structural work? To me the whole package reaks of trying to infer the right steps were taken to address what is/was a very serious problem.
Lastly, there is a section of the basement ceiling that still looks original – it’s a ugly wavy thing and hubby said its probably the old metal lath with plaster thrown up against it. My question is, how can a inspection report guareentee the treatment of all termites when in my opinion, they should have torn that old ceiling down and looked at the beams there too.
Thoughts?
August 18, 2008
Jack Post Column replacement
A temporary jack post is in the basement of the detached frame house we’re looking to buy. Structurally the house is very sound with no visible sagging but apparently a jack post is against building code. There is a concrete slab in the basement. The recommendation is to replace the jack post with steel pipe column. Is a steel pipe the same thing as a lally column? Do I have to break through the concrete slab to pour a new footing for this steel pipe column? Is this something I can do myself? Thanks!
August 13, 2008
Roofing repair - warranty, Is there such a thing?
Has anyone gotten their roof fixed and managed to get a warranty for the work? I was reading the archives and it was mentioned that no roofer would dare give a warranty for repair work since they would be taken ownership of the whole roof if they did. This seems to make sense to me. The house we're looking to buy is a sloped (barn-style looking, asphalt-single roof. The sellers claim repairs were done 9 months ago and it comes with a 5-year warranty. Visually our inspector seems to think the whole thing is on its last legs noting cracked, shifted, uplifting shingles with aging non-metal flashing.
I need to know if there is such a thing as a repair warranty before I go calling the seller's bluff.
August 12, 2008
Help me estimate expenses - First-time homebuyer
I've always lived in apartments and am now considering purchasing a detached 1930s frame house with clapboard siding, old single-pane windows, 2 floors with basement, approx 1700 SF, 1 full-bath and 1 half bath.
So far I have:
-Oil (heating and hot water)
-Elec
-Gas
-Water & Sewage
-Garbage
-Any more?
I am having a hard time getting info about the monthly costs to live in this house. (Its an estate sale.)
I'm hoping you guys can help me put some estimates to come up with a monthy expense total average (summer and winter.)
Does anyone live in a similar style how but with a gas boiler with a seperate hot water heater system?
August 8, 2008
Home Inspection - how carefully was the Electric Panel reviewed?
Hello, first time homebuyer here and am very nervous about everything. Our inspector just looked at the electrical panel and was able to tell us that while it had been updated in the 60s, the panel is completely maxed out and probably will need to be upgraded to more breakers given all the appliances in today's living. I was talking to a friend and she asked me if the inspector found any "re there any code violations in the panel? Like double tapped circuits?" She said perhaps if there was a code violation, we could also request the whole panel to be updated. I told her the inspector did not even take the panel off/apart. Is this the norm? What was your inspection process like?
Author's Comments
The way my broker has always put it to me (whenever we asked for his opinion on a price) is that the buyers dictate the market and in his words, there is always someone with deeper pockets... so, yes, he is free and clear because he has never ever offered an comments on something being overpriced or underpriced...
Posted by: helppls at November 12, 2008 4:17 PM in response to Pigs at the tough
This friday for an Agency Jumbo? this is not good news... Does this means our contract is signed and all the loan info plugged into the system?
If I am looking at a mortgage for around 570k, do you know what the rates will be? Does this mean they are starting the new program EARLY as a result of closing the Conforming/Agency Jumbo EARLY?
Posted by: helppls at November 12, 2008 4:07 PM in response to mortgage rates
Ok, I think you guys have help me clear it up. It seems by code a finished (maybe even rated gwb) ceiling is required above the boiler but there really isn't any way to enforce that if an inspector doesn't go in there, right?
Petebklyn, I also got clarification from the friend that their citation happened coz they were converting to a 3-family. Ours is a single-family house...
Has anyone seen termite treatment done from the top, ie, when floor boards were being replaced on the 1st floor so they don't rip out the basement ceiling above the furnace?
Posted by: helppls at November 12, 2008 3:52 PM in response to Code reqs. for finished ceiling required over furnace area?
Can someone tell me what a "Agency Jumbo" is exactly? How is this different from a regular conforming loan?
Also, I've been reading that the conforming limit will change (increase) come Jan 2009 and that this April's temporary rise to 712/729K will be gone. Is this true?
Posted by: helppls at November 12, 2008 3:28 PM in response to mortgage rates
I am soo confused. Whilst Adam first mentioned that bond sell off will yield better rates in the future, JustinM says something to the opposite effect and Adam agrees with him.
So which is it? Should I have locked in my rate yesterday or wait a month? I'm sooo confused!
Posted by: helppls at October 29, 2008 9:42 PM in response to What Mortgage rates are you seeing?
Look, I am in a market for a 30 yr mortgage. I'm serious when I ask what are the very best 30-yr rates now for someone with very good credit (we are talking 800s.) Thanks.
Posted by: helppls at October 23, 2008 3:27 AM in response to 30 year jumbo
Yes, what are they?
Posted by: helppls at October 22, 2008 12:17 AM in response to 30 year jumbo
davieeng, I have no answers for you but I just wanted to chime in and say how much I wish there was a Queens equivalent to this website as well. Maybe people are not big DIYers out in Queens? Its really too bad!
Posted by: helppls at October 21, 2008 4:08 PM in response to Handyman Recommendation – Brooklyn/Queens?
I get the above message all the time, even when I try and reply to my own threads! I don't understand especially when what I took a lot of time typing out NEVER gets posted!
Posted by: helppls at October 21, 2008 4:05 PM in response to Why I can't post...
Is there already a finish concrete slab in the basement?
Even if you have a large lot, zoning will determine what your actual FAR would be.
Posted by: helppls at August 25, 2008 8:11 PM in response to 'Lifting' a House
I definitely do not trust ServiceMagic. They recommended a contractor who was only incorporated this year. I decided to meet them and judge for myself though from our short phone conversation he seemed to be a yes-man and I questioned his ability and true understanding of the task at hand. Well, the guy never called me back to confirm a tentative appointment we had set up for the day after the initial phonecall. I called and left two or maybe even three messages 30 minutes before our agreed meeting time. Its been a week and I still have not received a call back. Very unprofessional.
Posted by: helppls at August 25, 2008 2:18 PM in response to Nayci Contracting for Kitchen Renovation
A half bath you mean it has a shower? I actually thought that any shower or bathtub is against code in basements...
Posted by: helppls at August 25, 2008 2:15 PM in response to Duplex question
I just called Mark Hyman's # and was told they don't do residential work unless its a brownstone. So, does anyone know who will do work like this for one column and how much it will cost for everything?
Posted by: helppls at August 20, 2008 12:58 PM in response to Jack Post Column replacement
I am not sure I trust Service Magic. I just came across their website this morning, looking for a exterior siding person and they pulled up one name with an established date of 2008...
Posted by: helppls at August 18, 2008 1:21 PM in response to Nayci Contracting for Kitchen Renovation
How did you intervene exactly and what was the outcome? I've often thought people use their babystrollers as weapons in this city - not good and dangerous for the child. IMO, good parenting is a lost art.
Posted by: helppls at August 17, 2008 7:34 PM in response to Park Slope Baby Carriage Pushers Are on the Loose!
Do you at least have solid either concrete or cmu foundation walls? Would you be spraying the soil - is it how its done? I might be facing the same issue soon and I can't figure out how to insulate the floor effectively.
Posted by: helppls at August 14, 2008 12:35 PM in response to spraying ground around joists?
Hi denton, What is the difference between the home inspector I hired and getting an architect/engineer now to estimate repairs? I was under the impression the home inspector would be able to help with the estimation too. If I am mistaken, can anyone recommend an engineer for this? thx
Posted by: helppls at August 13, 2008 5:43 PM in response to Help me estimate expenses - First-time homebuyer
We're having a hard time negotiating anything due to the poor upkeep of this place despite our argument that yes, everything will likely be replace within the next five years. Any tips for this? It gets tricky to renovation a 1-family house since there isn't any place you can really occupy during the renovation. Aaaah, Freedom, how far away you seem to be...
Regarding our roof, the inspector said it was at the end of its lifetime. The sellers are saying they just had it "fixed" in May and it comes with a 5-year warranty.
Can anyone tell me if such a warranty is trustworthy, or better to get a guy to come look at it? Can anyone recommend a roofer?
Posted by: helppls at August 13, 2008 1:31 PM in response to Help me estimate expenses - First-time homebuyer
Master Plumber, when re-using these radiators, is size an issue? Are they all comparable even though they come in different sizes?
Posted by: helppls at August 13, 2008 12:10 PM in response to Victorian Radiator for Sale
Oh and the inspector had mentioned something about if your current gas line is not big enough (or something,) they need to dig out to the street to replace that. But that would be an extra 10k. Maybe someone here can explain this better as I was overwhelmed with info during the inspection.
Posted by: helppls at August 13, 2008 12:04 PM in response to Replacing Oil Tank
You're talking about a complete conversion from a oil system to a gas heating system right?
Just yesterday, I was quoted 5500-7000. If you need a hot water boiler too that would be an extra 700. This includes carting away the gas tank too and a discounted boiler from Keyspan. It doesn't include asbestos removal if you have that stuff on your pipes which you need to have taken care of before anyone will work on your heating system.
Posted by: helppls at August 13, 2008 11:58 AM in response to Replacing Oil Tank
Hey premadas, do you mind answering some questions? I think if this goes through I will be needing a lot of similar work esp. a new roof so I'll be interested in all/any references.
Please email if possible: helpplsnyc@gmail.com
Much appreciated!
Both real estate taxes and home insurance is included in the mortgage payments, right?
Posted by: helppls at August 13, 2008 2:19 AM in response to Help me estimate expenses - First-time homebuyer
Hi denton,
I'm considering upgrading the current oil boiler to gas if we decide to buy the house so I'm trying to weigh everything. We might have to do one winter of oil before affording the gas overhaul. The inspector warned us that oil boiler are guaranteed to breakdown at least once a year. (Is this true?) The current boiler is by Peerless and probably from the 90s. I'm a bit terrified by what the winter holds for us since given the house's age and condition since it is probably not insulated properly in addition to the inefficient windows.
Posted by: helppls at August 12, 2008 5:30 PM in response to Help me estimate expenses - First-time homebuyer
This happens so much in the NYC market. I wish it was illegal to "fish." Isn't that essentially what the inital price did - fish for higher/highest offers?
@ wasder 1:01pm - that is a big difference/drop of 1.5 versus 1.3 mil. Do you really think it would take 20 years to recover to our current prices?
Posted by: helppls at August 12, 2008 1:12 PM in response to Shenanigans at 279 Clermont Avenue?
I posted a long response that said it was being "quarentined" but its still not showing up here. Anyways thank you all for our input. One thing that did happen was we found out mechanically we have an OIL-burner combo unit that works 24-7, 365 days to make hot water for the house and heat in the winter. The listing said GAS/steam unit. So the oil tank that looked abandoned in the basement was fact was still functioning. Does anyone have any idea how much it would cost to install a GAS unit with a separate boiler? We are rather upset with this. They must have laughed to themselves when we requested the removal of the oil tank as part of our counteroffer.
Amanda, we’re talking about a 1930s detached frame house actually.
Posted by: helppls at August 11, 2008 11:11 AM in response to Home Inspection - how carefully was the Electric Panel reviewed?
Steve, I'm in awe of what you've managed to accomplish yourself! I do think the stain glass might be better suited somewhere else instead of these cabinets as the carvings in the wood already make it quite ornate.
Posted by: helppls at August 10, 2008 2:04 PM in response to Opinions please
Also, after getting the report and the list of deficiencies/recommendations of things that need to be address/fixed, how did you go about using the report to re-negotiate with the seller? Did you contact each trade( roofing, termite, asbestos removal, MEP specialist etc.) for estimates of the work required? and then hopefully show these estimates to the seller and hope it listen?
Posted by: helppls at August 8, 2008 9:48 PM in response to Home Inspection - how carefully was the Electric Panel reviewed?
Responses to Author's Forum Comments
3. Make sure that Asshats like Wasder can stay on the Habitrail and make mortgage payments. Still being a debt slave!
Hey What--my habitrail is feeling pretty good right about now. In re this conversation our loan is for 800G at 6.00%. Don't know if it is still a possibility to get such a loan at this point but we didn't take this out that long ago.
Posted by: wasder at October 30, 2008 4:41 PM in response to What Mortgage rates are you seeing?
Adam is right. people are still getting loans. the world hasn't ended. the sky didn't fall. get over it. still not seeing the predicted massive forclosures and people huddled in masses in the streets. Although if you believe the Obama infomercial we are the walking dead. the hyperbole detracts from a serious examination of the facts. it only serves to aggrandize the vacuous space between the ears of some posters here.
Posted by: Legion at October 30, 2008 7:30 PM in response to What Mortgage rates are you seeing?
Hay What, who are are you voting for and why?
Posted by: IronBalls at October 31, 2008 1:32 AM in response to What Mortgage rates are you seeing?
What- You just shot yourself in the foot on this one.
DU/LP does not handle loans that are non-conforming. DU is Fannie Mae's underwriting engine and LP is Freddie Mac's. loan of 1.5 million is not Fannie/Freddie elligible so why would you run it through either underwriting engine?
75% LTV is agressive for a loan of this size in this climate. This is what LTV's should have been all along. Once you go into the million dollar range you should be able to put more than 20% down as a hedge against risk. This is responsible lending.
Hard Money? Are you an idiot? or do you just play on on the internet? Hard money rates start at 13% and cost anywher from 2-3pts at no more than a 65% LTV.
You should know this if you are really a mortgage broker. But I guess all you did was sell subprime 100% loans to minorities.
People like you are the real reason that we are in this mess.
Posted by: Adam Dahill at October 31, 2008 12:45 PM in response to What Mortgage rates are you seeing?
Oh that fico was 720 for the 1.5 million loan you dolt.
Posted by: Adam Dahill at October 31, 2008 12:46 PM in response to What Mortgage rates are you seeing?
A conforming loan basically means that it falls within Fannie/Freddie's guideline, thus considered less risky for lenders. You will get better rates and application process is not quite so harsh. The opposite of this is non-conforming loan or Jumbo loan. The Jumbo term probably came from the idea that non conforming begins at anything higher than $417k.
Conforming loan is $417K and below. There are other requirements that you need to check with your lender.
Posted by: crimsonson at November 12, 2008 3:42 PM in response to mortgage rates
The Conforming Jumbo or Agency Jumbo is basically gone already. Fannie Mae had it set to expire Dec 31st which means that they have to have the file by then. Lenders have decided to cut the program earlier so they have time to do post closing reviews and package these loans to sell to Fannie. Most lenders need to have the loan closed Dec 1st some Dec 15th and the last day for locking these loans is this Friday.
That said they are going to have new limits coming out within the next week that are slightly stepped down from the 729k amount. On 1 unit properties in the 5 Boroughs, North Jersey and Westchester we are "expecting" the amount to be around 650k for 1 unit and 800k for 2 units and larger amounts for 3 & 4 units.
-Adam
Posted by: Adam Dahill at November 12, 2008 3:56 PM in response to mortgage rates
This friday for an Agency Jumbo? this is not good news... Does this means our contract is signed and all the loan info plugged into the system?
If I am looking at a mortgage for around 570k, do you know what the rates will be? Does this mean they are starting the new program EARLY as a result of closing the Conforming/Agency Jumbo EARLY?
Posted by: helppls at November 12, 2008 4:07 PM in response to mortgage rates
I'm getting a bulletin forwarded to me from Fannie Mae any minute now and I'll translate and post for all to see.
No details on what the rates will be but we are "expecting" them to be actually more attractive than the 729k rates that we currently have.
Give me about 15 mins.
Posted by: Adam Dahill at November 12, 2008 4:15 PM in response to mortgage rates
Ok. These are the new limits.
1 unit - $625,500
2 unit - $800,775
3 unit - $967,950
4 unit - $1,202,925
Still to be determined how the institutions/banks/lenders are going to digest this but I'll do my best to keep everyone updated as it comes down the pipe.
Posted by: Adam Dahill at November 12, 2008 4:21 PM in response to mortgage rates
Adam, much appreciated! I wonder what the rationale is to splitting the limits according to unit-size... Since I am no where near contract, nothing I can do about chasing a agency jumbo now... Will there be changes to debt-to-earnings or any other qualification issues, you think for these new limits?
Posted by: helppls at November 12, 2008 4:26 PM in response to mortgage rates