Tuesday, November 30, 2010

Title Insurance - What You Need to Know

Whether you are a first-time homebuyer or a seasoned veteran in homeownership, title insurance is often a mystery. This article explains the purpose and reasons for title insurance and provides insights for the next time when you are ready to buy (or refinance) a home.

The purpose of title insurance is to protect you, a property owner, from problems that could arise relating to the title of your home or land. You already realize the value of homeowner’s insurance, but probably wonder why you need to purchase yet another insurance policy.

Almost everyone who has a mortgage or plans to refinance a home is required to purchase title insurance. This is because the lender holds the title and stands to lose the most if a titling problem arises. Occasionally, when you purchase a brand-new home your lender may waive the title-insurance requirement. 

Why would a lender do this for a brand-new home, but not for a pre-owned home?
When you purchase a pre-owned home, it has had at least one ownership changeover. At any point during the home’s history, a lien could have been placed against the home or property and you may be unaware of it when you purchase or refinance. When that happens, the title holder has to cover legal fees and court costs and possibly settle the lien. This is where title insurance comes in.

Title insurance protects lender’s interests in the amount that has been mortgaged or refinanced. It does not protect the equity in your home, nor does it protect you. A different type of insurance, known as owner’s title insurance, is designed with the owner in mind. This is an optional purchase that can be added onto the lender’s title insurance policy.
Request that the seller provide an owner’s title policy add-on when purchasing a new home. In some areas, this is a standard part of the home-purchase negotiation process and is expected by the buyer. However, the seller may refuse. In such a situation, you would need to purchase the policy on your own if you nevertheless wanted it.

Owner’s title insurance is that it is the only type of insurance that offers coverage that ends on the date the policy is purchased. Title insurance covers only those losses that result from the actions of previous owners. The policy lasts for as long as the owner or his or her heirs have a claim in the insured property.

Title insurance covers only liens and title disputes that result from actions that occurred before the policy was purchased, regardless of how many years the home has been covered.
If your home’s value increases substantially, you may need to increase the amount of coverage. Many homeowners fail to upgrade their owner’s title insurance. Years after the date of purchase, they feel less vulnerable to titling disputes. However, this is a risk.

Many homeowners are choosing to refinance their mortgage to take advantage of favorable lending conditions. Remember to consider the cost of title insurance when refinancing. Your owner’s insurance policy will continue to be in effect for as long as you own your home, but the lender title insurance policy will become defunct once the original mortgage is paid off. 

Therefore, you will need to purchase new title insurance on behalf of your lender when you opt to refinance your home. Generally, the minimal additional expense is minimal does not dissuade owners from refinancing for more favorable terms.

Quick & Easy Holiday Punch
When time is short and guests arrive unexpectedly, serve this quick and easy punch that will make a nice match for cookies, cake or even a simple dinner.
• 4 cups cranberry juice cocktail, chilled
• 1 can (12 ounces) lemon juice concentrate
• 4 cups cold water
• 2 12-ounce cans chilled lemon-lime carbonated soda, or about 4 cups
Combine the cranberry juice, lemonade concentrate, and water. Refrigerate. Add ice cubes immediately before serving. Carefully pour carbonated soda down the sides of the bowl.

Saturday, November 27, 2010

Husky: An adoptable dog in Chester, MD- Just in time for Christmas


Size: Large
Age: Young
Sex: Female
entered 8/26/2010 Maya was adopted March 23, 2010. It was an act of kindness. A family was breaking up and Maya had to have a home. She was spayed April 23, 2010 and is up to date on all of her vaccines. Her vet is Chesapeake Veterinary Hospital. She is groomed at home on a weekly basis: brushed, nails trimmed, teeth brushed and ears cleaned. At home there is a 15 year old, a 7 year old and a newborn. Maya has learned to sit, lay down, give a paw, wait and say I love you. Also at home is a 60 pound Shepherd/Akita mix that Maya plays with every day. She plays with the neighbors dogs too, so she is socialized. The only challenge is that she soils her crate, even if only in there for a short time. As a result, Maya is bathed everyday and the crate is scrubbed each day. Sometimes bathing and scrubbing happens twice a day. Maya is now in need of a home with a family with more time to help her overcome what seems to be separation-anxiety. Maya lives on the Eastern Shore of Maryland, across the Chesapeake Bay from Annapolis. Maya is not an ARF dog. If interested in Maya please contact Wendy: wendyeierman@verizon.net for more information.

Maya is up-to-date with routine shots and spayed/neutered.
Animal Resource Foundation Inc
Chester, MD
(410) 643-8700 info@arfusa.org

Hot listings

Single Family-4 bedroom-2 Bath-Kent Island

Offered at $234,900

Chester, MD
Click Here for More Information
•  Single Family Home•  Unspecified lot•  4 bedrooms 
•  Built in Unspecified•   sq. ft. living area Area•  2 bathrooms 
•   Status: Active•  Type: Detached home, Fee simple•  Hardwood floors
•   County: QUEEN ANNES•  Kitchen•  MainFloorBedroom
•  Subdivision: HARBOR VIEW•  Parking features: Driveway/Off Street, Gravel Driveway•  MainFloorBathroom
•  Approximately 0.31 acre(s)•  Lot size is less than 1/2 acre•  LivingRoom
•  2 total full bath(s)•  Call agent for details on association fee info.•  Master Bedroom
•  1 stories•  Cooling features: Cooling,Electric

Dina Baxter
Rosendale Realty
605 Main St. Suite 100
Maryland 21666
(410) 643-2166

   Posted: November 24, 2010

Monday, November 22, 2010

Chester River Beach

Offered at $524,500

Grasonville, MD

Click Here for More Information
Single Family HomeUnspecified lot3 bedrooms
Built in Unspecified3837 sq ft sq. ft. living area Area4 bathrooms
Status: ActiveKitchen2 car garage(s)
County: QUEEN ANNESRiver viewCooling features: Electric, Heat Pump(s)
Subdivision: CHESTER RIVER BEACHWater viewFireplace
Approximately 0.22 acre(s)Parking features: Concrete Driveway, Driveway/Off Street, Garage Door Opener, PDining room
3 total full bath(s)Attached parkingDen
1 total half bathCommunity boat facilitiesLaundry room
3 storiesCommunity security featuresHardwood floors
Type: Detached home, Fee simpleLot size is less than 1/2 acreHandicap features
Family roomCall agent for details on association fee info.MainFloorBathroom

Dina Baxter
Rosendale Realty
605 Main St. Suite 100
Maryland 21666
(410) 643-2166

Posted: November 21, 2010

Sunday, November 14, 2010

Could Facebook become a Bank?

A very interesting idea on how social networking sites could develop NEW innovative business models that could disrupt or displace the way we conduct business.

Friday, November 12, 2010

Dancing Babies- Roller Style

This has nothing to do with Real Estate but I thought it was a nice way to bring in the weekend!!!!

Tuesday, November 9, 2010

Homeowners Battle Rising Utility Costs

Homeowners Battle Rising Utility Costs

Savvy homeowners are battling all-time-high energy costs by incorporating building techniques to make their homes more energy efficient. As more people begin to struggle to meet rising utility costs, these practices are expected to grow in popularity.

Just as current owners are renovating with energy savings in mind, new home builders are seeing increased demand for green buildings and energy-efficient homes.

Here are some ideas for how you can reduce your energy consumption – and costs – by selecting building materials and appliances that promise to improve your home’s energy efficiency.

Use Highly Rated Energy-Star Appliances: This is not a new idea, but as costs rise, buyers are looking at the yellow energy-consumption tags on new appliances more seriously. Retailers know that buyers are paying more attention to the higher-rated appliances, and this could lead to more advertising and discounts for such products.

Consider How You Heat Your Water: Most homes have a traditional tank-style water heater. However, with rising heating costs, this practice may change. Other options for heating water in your home include solar heating and tankless water heaters.

Solar water heating requires a significant upfront investment, but once it is installed you no longer need to pay for heating the water. Installation includes a pump, plumbing through which the water circulates for exposure to the sun, and possibly large glass tanks for storing the hot water.

A tankless water heater has no storage tank and the water is heated as you need it. Heating water on demand is much less expensive than heating water and storing it until it is needed.

Supplement Your Electricity: Installing photovoltaic roof shingles instead of standard asphalt shingles lets you use the sun’s energy to generate supplemental electricity for your home. A wire is pulled from each shingle and connected to the home’s power grid. You might not be able to generate enough electricity to meet all your needs, but with rising costs, every bit of savings can be a huge help to homeowners.

If you are considering a new roof or you are building a home, consider using this roofing material to decrease your utility bills.

Consider Your Home’s Placement: If your home was built 50 or more years ago, it probably is already more energy efficient than most new homes. This is because central air-conditioning was not prevalent in the past. To keep homes cool in the summer, windows were located strategically for cross-drafts. Also, the largest windows were designed to receive the morning sun, thereby helping to heat the home.

As energy prices declined, many homes were built without these considerations. However, today’s builders are beginning to return to traditional building practices in order to have more energy-efficient homes.

Consider Your Window Treatments: Whether you live in a new or old home, or are building your home, you can control your window treatments. What you put on your windows can make a serious different in your home’s heating and cooling costs. Light- and heat-filtering blinds and heavy draperies may significantly reduce the need for continuous air-conditioning.

Hopefully, this information has given you some ideas for countering rising energy costs. By using one or more of these suggestions, you can make your home more energy efficient. If you decide to sell your home in the future, these updates may make your home more attractive to buyers.
This is an excellent window cleaner that costs about a quarter per bottle. Use it with newspaper for a clean you won’t believe!
Window Cleaner Recipe (Compliments of Heloise)
12 to 16 ounces water
1/2 cup white or apple cider vinegar
1/4 cup rubbing alcohol (70%)
1-2 drops blue or green food coloring, if desired
1-2 drops lavender, cinnamon, clove or orange essential oil. Combine the ingredients and pour into a labeled spray bottle.

1. Spray the newspaper.
2. Wipe down the window to avoid drips.
3. Wipe one side of the window vertically, and the other horizontally, so you will know which side a streak is on!
This bottle of nice-smelling window cleaner can cost as little as 25 cents. The solution also works well on mirrors and glass shower doors.

Tuesday, November 2, 2010