A major challenge in 2006 was the number of foreclosures. There will always be foreclosures, but they spiked by over 100% prior to the crash. Foreclosures sold at a discount and, in many cases, lowered the values of adjacent homes. We are ending 2018 with foreclosures at historic pre-crash numbers – much fewer foreclosures than we ended 2006 with.
Ten years ago, many homeowners irrationally converted much, if not all, of their equity into cash with a cash-out refinance. When foreclosures rose and prices fell, they found themselves in a negative equity situation where their homes were worth less than their mortgage amounts. Many just walked away from their houses which led to even more foreclosures entering the market. Today is different. Over forty-eight percent of homeowners have at least 50% equity in their homes and they are not extracting their equity at the same rates they did in 2006.
One of the causes of the crash ten years ago was that lending standards were almost non-existent. NINJA loans (no income, no job, and no assets) no longer exist. ARMs (adjustable rate mortgages) still exist but only as a fraction of the number from a decade ago. Though mortgage standards have loosened somewhat during the last few years, we are nowhere near the standards that helped create the housing crisis ten years ago.
Though it is difficult to afford a home for many Americans, data shows that it is more affordable to purchase a home now than it was from 1985 to 2000. And, it requires much less of a percentage of your income today than it did in 2006.
The housing industry is facing some rough waters heading into 2019. However, the graphs above show that the market is much healthier than it was prior to the crash ten years ago.
Hurricane season is around the corner! Here are five ways to waterproof your home in one weekend:
Nobody likes to clean or repair gutters. However, there are a few ways to make the job easier. First, for clogged downspouts, try using barbecuetongs to reach in and pull the leaves out. This doesn't always work but considering the alternative -- using a hose to flush the clog out, getting wet and covered with gutter goop -- it's worth a try.
Second, to repair loose gutter nails try replacing them with extra-long lag screws. The lag screws tend to be stronger, hold better and can easily be installed with a cordless drill equipped with a nut driver bit.
Concrete always cracks, but that doesn't mean you have to live with it that way. For most cracks less than 1/4", applying concrete caulk is a good way to make repairs. Just clean the crack out with a high-pressure hose nozzle, let it dry and then apply the caulk into the crack.
For larger cracks, substitute concrete patch for caulk. Large cracks or small, repair is necessary because water that finds its way into cracks will soften the ground underneath and cause more cracking. The situation worsens if the water freezes.
With all the wet weather that spring brings, wooden windows and doors can't help but swell and stick. To repair a sticky door or window, first mark where it is sticking. Next, remove the door or window by taking out its hinge pins, prop it up securely and with a hand plane, carefully remove any excess material. Power planes will work, too, but there is a tendency to remove too much. When the wood shrinks back during the drier, warmer days of summer, the gap will be too wide.
For sliding windows, often the trim around them is the culprit and must be removed and reinstalled to allow for more movement. To do this, carefully remove the trim with a flat bar and pull the nails out backwards that is, grasp the nail point with pliers and pull. If the trim was installed properly with finishing nails, you should be able to do this without damaging the wood. When reinstalling, keep the fit snug but not as tight as it was. If you reinstall the trim too loosely, the windows will rattle when the wood shrinks again.
To keep windows and doors from sticking in the first place, make sure that they are sealed with a good coat of paint, including the tops and bottoms. But dont paint the channels where windows need to slide. Instead, use a light coat of linseed oil as a sealer.
The problem with water stains is that painting over them will not make them go away unless you use a primer-sealer first. When looking for a sealer, follow these basic guidelines: First, oil-based sealers usually work better than water-based. Second, choose a sealer that has a high amount of solids. Solids consist of pigments and other elements that do the actual covering of the stain. Paint, hardware and home centers carry primer-sealers (sometimes called sealer-primers) such as Kilz and Zinsser.
One other tip when using an oil-based sealer, consider using disposable brushes and rollers. Cleaning up after using oil-based products can be messy and often requires that you spend more on paint thinner than your brushes and rollers are worth.
It used to be that the only way to do a good paint job over rust was to get out the naval jelly or wire brush and remove the rust first. Thankfully, paint additives are now available to help paint stick to rust while also neutralizing the rust and stopping corrosion from continuing under the paint.
If left untreated, rust will eventually cause your fixtures to lock up. Prevent this by keeping fixtures well lubricated. One of the most common mistakes people make is trying to lubricate outdoor fixtures with light oil or silicon from spray cans. Because these oils are so light, they often evaporate and/or dilute existing lubrication thereby making the problem worse. For fixtures like gate hinges and latches, use heavy grease. It will not evaporate and its heavy viscosity is the best thing for heavy-duty parts. Most auto parts stores have heavy grease.Source: Realtor.com
"DYK if you throw away an aluminum can, it can remain in the form of a can for 500 years or more? Did you also know that aluminum cans can actually be recycled and reused over + over again… with almost no limit?
Recycling gurus, such as Peppa Pig + Rocko (from Rocko’s Modern Life) teach kids about the importance of recycling. But as adults, sometimes it can be “easier” to just throw away a can instead of rinsing it out to properly recycle– am I right?
In 2019, Charleston + Berkeley counties will both open new multi-million dollar recycling facilities. Those facilities will bring an innovative approach to recycling coupled by state of the art equipment.
But what about the things we can do as individuals to champion renewable energy + environmental conservation in our community right now?
If you threw away recycled the guide your county mailed out to you earlier this year, don’t worry– we’re covering the recycling ground rules.
Recycling isn’t all about cans + newspapers. You can also recycle clothes, blankets, k-cups, electronics, cooking oil, food… even water. The key is knowing how to properly recycle each item.
Below is a short list of examples to keep in mind when recycling. For full lists on what can be recycled, be sure to check with your county’s recycling guide (more on that below).
Cooking Oil/Grease– We all love our Southern-fried cooking, but it’s very important that you do not dump cooking oil into the woods or water. Chemicals from the oil are harmful to the environment, run into waterways, + stick to pipes. Charleston County, Dorchester County, + Berkeley County all have convenience centers to properly dispose of oils.
Electronics– Charleston County, Dorchester County, + Berkeley County will accept items such as: computers, printers, gaming consoles, christmas lights, small appliances, and TV’s. These items cannot be disposed of in your recycling bin. Be sure to check with the convenience center nearest you prior to dropping off– each location accepts different things.
Clothing + Shoes– Before you throw those adorable shoes you only wore once– give them to someone in need. There are countless donation sites around the Lowcountry, including the always-accessible parking lot donation bins (many near churches + daycares). Local organizations such as Charleston Habitat for Humanity, Palmetto Goodwill, Lowcountry Orphan Relief, Dress for Success Charleston, + Children’s Cancer Society Thrift Store will also accept items in good condition– and will even provide a tax write off the receipt. Do good + get money back = win-win.
Food– DYK about 30% of your trash could actually be composted? Yard trimmings + food waste often end up in S.C.’s landfills, but adding them to a compost pile means they can naturally decompose (thanks, tiny microorganisms). If an outdoor compost pile is implausible for your current living situation, or the smell of the indoor bin has you feeling less than pro-compost, we have a company right here in Charleston who will do the dirty work for you. Smart Recycling U.S. will haul away your food scraps, assisting in the reduction of your waste bill.
Water– Collected rainwater can be used to water plants, wash cars, + help prevent rivers from runoff pollution. Through the end of May, Charleston residents can save $61 off the price of a rain barrel by purchasing here.
Paper/CardboardWhat you can recycle: Magazines, newspaper, office paper, junk mail, greeting cards, wrapping paper, books, soda boxes, shoe boxes, clean food boxes (such as cereal boxes), paper towel rolls, + egg cartons.What you cannot recycle: Pizza boxes + other dirty food containers.
MetalWhat you can recycle: Aluminum cans, caps + lids, empty aerosol spray cans, steel cans or tins.What you cannot recycle: Medical waste (i.e. syringes), propane tanks, aluminum foil or trays.
Plastic– The key to recycling plastic is to read the number on the bottom of the container. Numbers 1, 2, 4, + 5, are picked up by most curbside recycling programs.What you can recycle: Clean milk jugs, soda bottles, detergent bottles, (many) food containers, clean K-cups (with the filter and grounds removed), + empty motor oil containers.What you cannot recycle: Dirty food, detergent, or motor oil containers; sunglasses, iPhone cases, computer cases, meat trays; disposable plates, cups, or silverware; + medical equipment.
GlassWhat you can recycle: Clean, unbroken, jars + glass bottles with the lids removed.What you cannot recycle: Broken glass, windows, mirrors, household decor, ceramics, Pyrex dishes, crystal, + light bulbs.
Batteries/Bulbs– Certain batteries, such as car batteries, + fluorescent bulbs can be recycled. Household batteries (like the ones in your remote) can be recycled here
Paint– Charleston County residents can recycle paint at any of the county’s nine convenience centers.The Bees Ferry Convenience Center also re-sales paint at a cost of $10 per five-gallon bucket. If yourcounty does not have a paint recycling program, you can donate the paint or harden the paint using kitty litter(trust us, it works) before disposing of it in the regular trash.
For specific details on what can and cannot be recycled in your county-provided bin, and/or at your local convenience center, make sure you contact your local municipality or visit the links below.
Charleston County Recycling Guide Berkeley County Recycling Guide Dorchester County Recycling Guide
I know I am guilty of tossing the occasional sparkling water can into the into the trash every now + then. But, if we all work to be a little less trashy, + take small steps to recycle, we can have a major impact on the Lowcountry’s environment.
BTW– today is National Moscato Day. So drink up + recycle those wine bottles, y’all.
– Justine"Source: @chstoday #chstoday