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Buying a Home with an Older HVAC Unit?

Considering buying a home with a central air conditioning or a heat pump system now that another Northern Virginia summer is approaching? Well it is essential that you know that as of January 1, 2010, manufacturers aren’t going to build any new systems using R-22 refrigerant or any new spare parts for those existing systems using R-22. And, virtually all those old HVAC systems use R-22 to work their magic.

Eliminating a Greenhouse Gas at home

The 1992 Montreal Protocol was amended to phase out HCFCs (Hydro chlorofluorocarbons), commonly referred to as a Greenhouse Gas, which have been identified as causing damage to the ozone layer. The refrigerant known as R-22 is HCFC-22. The U.S. EPA implements Title VI of the Clean Air Act, and the 1st of January was an important phase-out date under the amended Montreal Protocol.

This situation came to light recently when a RE/MAX Presidential colleague was called out of town and his buyer client’s had a home inspection on a cute little Vienna, Virginia home. The home inspector must have pointed out that the Lennox system was from 1992 (yes, there is a manufacture date on the label) and that it would need replacement when it pooped out.

In the meantime, there are home buyer warranty programs that have coverage for existing R-22 systems in the first year which addressed the buyer’s concerns. This specific R-22 coverage is new, but like all types of insurance they have limits and fine print for pre-existing conditions. It is best for home sellers to provide this coverage (costs about $450 at closing) to the buyer in case service is needed in the first year.

Home Owners should budget now to replace R-22 heat pump systems

If you are a current home owner like me who has an R-22 heat pump system, then it may be time to start budgeting for a replacement heat pump or A/C system. Most systems now meet EPA Energy Star standards and qualifications using a replacement refrigerant like Puron® or SUVA 410A®. New Energy Star units use considerably less electricity and the savings are significant and almost pay for themselves over five years.

Only a licensed HVAC contractor can calculate what type of system you will need to install to properly heat or cool your home. Using the square footage of your home and other factors, they will determine the proper “tonnage” of your compressor unit. Too big and it won’t work properly. Today’s systems are quieter outside and have multi-speed air handlers for better air flow inside.  But remember, gget a few estimates and the highest SEER rating that fits your needs.

Make sure to get a few estimates of replacement systems, and make sure that your system qualifies for the $1,500.00 Energy Star Tax Credit.

The EPA has published consumer guidelines that may be helpful if you are concerned about this issue or are planning to replace your R-22 Air Conditioner or Heat Pump system this year.

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Vienna, Virginia | My Buyer’s Agent Advice of the Week

I had a home buyer Tweet me and ask if I had any words of wisdom to pass along. The funny thing is that I love giving advice, but 140 characters weren’t going to cut it because what I do really can’t be distilled down to a sound bite. It also raised an issue that many socialists have written dissertations on… the desire for a silver bullet or quick fix.

A picture and a paragraph won’t be enough

Buying real estate in Northern Virginia is going to be a complicated task that will require some planning and very hard work:

• You need to figure out how to pay for your home (and adjust if necessary)
• You need to figure out the best location (and adjust if necessary)
• You need to figure out what style of home you want (and adjust if necessary)
• You need to figure out a reasonable sales price (and adjust if necessary)
• You need to do some comparison shopping (and adjust if necessary)

Plus there really are distinct differences between living in Arlington, McLean, Vienna or Oakton, Virginia.

and now for Doug’s words of home buyer wisdom…

Right now, today, I can share some wisdom that is worth passing down and it will require you to do some serious soul searching. Did you ever read “What Color is My Parachute” when you were searching for a job or life purpose? In that book the author has his readers do some serious thinking to help them discover their individual strengths, and then organize and understand the importance of capitalizing on those strengths.

Where do you see yourself in five or ten years? Today you have opportunities to buy into a neighborhood for the long term, rather than starting with a first-timer home and then moving in five years to your “family” home. Today’s long-term mortgage interest rates are low and should be low for a while, and home prices have been knocked down too. I won’t bother you with equations, but as rates go up then your buying power goes down.

Right now, in Fairfax County, Virginia, I am not seeing builders building too many detached homes under $1,000,000. Understanding the basics of supply vs. demand proves that the supply of detached homes under $650,000 will remain unchanged (actually decrease) over the next ten years. And the population forecast is on the upswing too.

So, my buyer’s agent advice or words of a wisdom… this is the time to buy a home with the long-term in mind.

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Stillfield Place in Centreville, Virginia | just bought!

This fantastic four bedroom colonial in the Virginia Run community in Centreville, VA that backs to true parkland, has an oversize screened-in porch and was a really good house to buy for my buyer clients. Turn key and not a short-sale. Doug was the “buyer’s agent” in this transaction.

The home was built in 1993 and featured the expanded floor plan.

Shameless Home Buyer Agent Plug

As my client’s “ buyer agent”, I was able to keep this transaction together even though my clients were in California. Understanding their limited time on the ground here in Northern Virginia, I discovered what they wanted and showed them their options on a few of their cross country house hunting trips. When we discussed mortgages, I was able to uncover a unique solution to dealing with stringent new mortgage lender requirements. And when they decided on this home, put together a strategic offer that beat out a competitive offer.

After all that, there was not an extra fee charged by my company, the Sellers paid the real estate commissions, and my clients bought a great house that they are thrilled with!

If you want to consult with me, then shoot me an e-mail right now…

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Home Buyers on Google overload?

If you are looking to buy or sell a home, I’m sure you have used  Google to do most of your research. In a recent conversation with a REALTOR colleague in Falls Church, Virginia, she shared how home buyers walking into her Sunday open-house already knowing the tax assessment, local school scores, neighborhood comparables and much more. They were well versed in the subject matter (buying a home in that neighborhood) and had brought their A-game. Agents love buyers who are willing to make decisions quickly because our real estate market remains one of the most active in the country.

Home sellers have always reviewed recent comps…

now home buyers are getting well prepped

This change is good and going to get better. But there is something all the Google-ing can’t answer, and that is where a talented agent is going to shine. Knowing the Walkability Score, the school test scores, the Zestimate or the impact the power lines may have will not help understand the true motivations of the decision makers.

Here are some of my musings as I drive through the Wendover Community in Vienna, VA along Lawyers Road between Vienna and Reston.

Please contact me if you are interested in confidentially discussing your home buying options. Many of my clients are senior level technology people, established professionals, and transferees from around the country.

My e-mail address is doug@dougfrancis.com

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