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How to Keep Toxic Mold Out of Your House

Vanessa Richardson — 2010-11-30T13:52:00 00:00

Mold can appear in any home, even those of the rich and famous. Take former CNN anchor Campbell Brown, for example. She had to flee her home and live in a hotel for months last year after finding mold on the wall of her New York apartment. The mold was so toxic that it woke her 14-month-old son at night with nasty coughing attacks. (She just moved last month to a new place, Tribeca, that cost her $4.65 million and is hopefully mold-free.)

Mold is a part of nature. In the great outdoors, molds are necessary for breaking down dead organic matter. "But mold can become a problem when it makes its way inside your home," says Susan Lilliard-Roberts, founder of the Mold Help Organization. If left unattended, mold can cause allergic reactions, asthma and respiratory infections

Here's what you need to know about mold, along with Lilliard-Robert's expert advice for keeping it out of your home.

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Where does mold grow?

Mold comes in all shapes, sizes and smells. Some is easily spotted--black, green or gray, with a powdery or shiny surface--while others are invisible to the eye, growing behind walls or ceilings and under floors. Humidity is a prime factor in mold creation; mold often grows on water-soaked materials, such as wallboard, fabric, and paper. Typically, buildings in naturally humid climates, such as the South and Northeast, experience more mold problems than in drier parts of the U.S., but mold can grow anywhere, as long as moisture is present.

How can you prevent mold from infiltrating your house?

The key to keeping mold at bay is controlling moisture in your home, says Lilliard-Roberts. "It's important to stop plumbing leaks, drips and water damage before they start." The Environmental Protection Agency has these recommendations for keeping excess moisture down and mold out:

Reduce indoor humidity by venting bathrooms and dryers to the outside of the house.
Use air conditioners and dehumidifiers to lower humidity levels.
Increase ventilation in the rooms by using ceiling fans and opening windows.
Use exhaust fans whenever cooking, dishwashing, and cleaning.
Prevent condensation by adding insulation to cold surfaces like windows, floors, exterior walls, the roof and pipes.
Don't install carpeting in areas of the home with perpetual moisture problems, or on concrete floors with leaks or frequent condensation.

If you find mold, how do you get rid of it?

Most mold is relatively harmless, but you should dry water-damaged areas and items within 24 to 48 hours to prevent mold growth. Usually, cleaning it by adding one cup of bleach per gallon of water will do the trick on hard surfaces and nonporous materials. Don't bother trying to do mold cleanup on absorbent materials, like ceiling tiles and carpet; you'll just have to consider them ruined and replace them.

Use gloves during mold cleanup and take frequent work breaks in a place with fresh air. If you feel any symptoms of illness, like nausea, dizziness or shortness of breath, it may be time to call in a professional.

Where to turn for professional mold help

Knowing whether the mold is toxic or not will determine how to do mold cleanup. You can purchase a do-it-yourself testing kit to see if you have a serious mold problem. The consumer group Home Owners Against Deficient Dwellings recommends a self-help test from MouldWorks@home. The $45 kit cost includes the lab analysis. If the results show a serious mold problem, MouldWorks will recommend mold inspectors and abatement contractors in your area.

Even if the mold problem is serious, if the area affected is small enough -- 10 square feet or less -- it's safe for you to remove the mold and clean up the area yourself. If the mold infiltration is more extensive, you'll need professional advice from a mold remediation expert, as more serious health risks and contamination may be involved. Be prepared to pay -- mold cleanup can be costly, starting at $500 to remove it from a house crawlspace to $10,000 and up for widespread structural damage.

Want to make your home a cleaner and greener place? Here are some AOL Real Estate guides to help:

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

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Dealing With Mold in a Rental Apartment

Vanessa Richardson — 2010-11-17T16:42:00 00:00

Mold and Other Rental Nightmares

Two months after Kim Johnson moved into her new rental apartment in Louisville, Kentucky, she started to have trouble breathing. She took herself to an allergist and discovered she was highly allergic to mold. Suspicious, Johnson started examining her apartment and discovered black mold on the walls beneath the kitchen cabinets.

Now she's got two problems to deal with. "I can't live with the mold because it makes me sick," she says, "but I signed a one-year lease. How can I get out of this situation without being penalized?"

Mold is an environmental problem in rental apartments nationwide. Tenants have suffered significant health effects, including rashes, asthma and chronic fatigue caused by exposure to toxic molds in their apartment buildings. Some have won legal cases against their landlords for neglecting mold cleanup.

"If you suspect mold could be an issue in your rental space, it's wise to learn when your landlord is liable or when the burden is on you," says Marcia Stewart, co-author of Every Tenant's Legal Guide. Here's some advice on how to handle mold in a rental apartment.

Inspect for mold before you move in
Before you sign a lease, check the premises carefully for mold. Some molds are easily spotted--black, green or gray patches, with a powdery or shiny surface. Typically, buildings in naturally humid climates, like the South and Northeast, experience more mold problems than in drier parts of the U.S., but mold can grow anywhere that moisture is present.

If you spot any signs of mold, ask the landlord to clean it up before you move in. If you can, contact the prior tenant and ask if there were any problems with moisture.

After moving in, Stewart recommends making sure rooms stay ventilated and cleaning humidity-prone areas, like the bathroom and kitchen, with anti-mold cleaning products. Keep an eye out for conditions that lead to mold, like plumbing leaks and weatherproofing problems, and immediately report signs of mold to your landlord.

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Know your landlord's responsibility for dealing with mold
There's no federal law regarding mold in buildings, and a landlord's responsibilities for dealing with mold are typically not covered on the state level. However, some states, including California, Texas, New Jersey, Indiana and Maryland, have passed laws to develop guidelines and regulations for mold abatement indoors. New York City requires its landlords to disclose any issues affecting indoor air quality. In San Francisco, mold is considered a nuisance for which landlords can be fined or even sued.

Even if there's no specific mold laws where you live, your landlord may still be liable for mold problems in your rental, says Stewart. Landlords are responsible for maintaining and repairing rental properties, which includes fixing leaky pipes, windows and roofs, which are the causes of most mold.

Bear in mind that the blame is reversed if it can be shown that the mold problem developed because of the tenant's behavior. For example, if mold grows because a renter fails to keep windows shut or allows water to soak walls or floors, the landlord won't be held responsible.

Call in a mold inspector if the problem is serious
If the mold problem is severe enough that you're considering suing your landlord, you'll first need to hire a certified mold inspector to test the mold and verify that it poses a health risk. You can buy a home test kit and test it yourself, but over-the-counter kits don't provide the same level of accuracy as professional test results.

If the affected area is small enough--10 square feet or less--you can safely clean up the mold yourself. Mixing one cup of bleach per gallon of water will do the trick on nonporous materials. (Don't bother trying to remove mold from fabrics like towels and carpet; you'll just have to consider them ruined.) Wear gloves while cleaning and take frequent work breaks in a place with fresh air. If you experience any symptoms, like nausea or dizziness, don't hesitate to call your landlord for help.

In Johnson's case, her landlord was understanding and let her out of her lease. But the best protection for renters is to examine for signs of mold up front, and to do your part to keep moisture problems at bay.

Want to make your home a cleaner and greener place? Here are some AOL Real Estate guides to help:

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

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Home Insurance: Tips for Choosing an Insurer

Vanessa Richardson — 2010-11-17T13:36:00 00:00

When Suzanne Patt went shopping for a home insurance policy, she ran into a problem: her daughter's trampoline. Some carriers refused to issue her a policy as long as the trampoline was in place; others were willing to include it, but at substantially higher rates. "That really limited my choices," says the Cranford, N.J., home owner.

Special features like trampolines and swimming pools are just two of the things that can make shopping for home insurance a challenging task for first-timers. The more prepared you are up front, the better you can compare different providers' offerings and rates.

If you're shopping around for a home insurance policy, here are some tips to help you get started.

1. Ask for recommendations

Harry Claussen, owner of Claussen Insurance Agency in Chester, N.J., recommends asking friends, relatives, co-workers and neighbors who they use for their home insurance. "Ask them why they use them and how they found them," he says. "Also -- and this is crucial -- ask them if they had a problem or accident at home and had to file a claim, how smoothly the claim process went, what was covered and what wasn't."

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2. Compare quotes

You can shop on your own to find home insurance and buy it direct from the company, or you can work with an insurance broker to help you find a policy. (As with insurers, it's wise to ask for referrals before you choose a broker). Brokers typically have access to multiple insurance companies and can act on your behalf to put together a home insurance policy that meets your specific needs. Brokers can be particularly helpful if your home has unusual features (or a big trampoline in the backyard), because a good broker will have a handle on what various carriers will and will not cover.

If you're buying directly from an insurance company, keep in mind that product selection and premiums vary from carrier to carrier, so it really pays to shop around. Get at least three price quotes from insurance companies, insurance agents and via Internet sites like InsureMe and NetQuote. Your state insurance department, as well as other state insurance organizations, can help you determine what insurers charge for homeowner policies in your area.

3. Check out the company's record

Because you buy home insurance to protect you financially, you want to buy it from a company that is financially sound and will be around to provide that protection. Check that stability by running companies through independent rating agencies. "Your top candidates should be rated A or better," says Claussen.

Also, make sure that the insurer is licensed to operate in your state. That way, if there's ever a problem, you can contact your state insurance department for help. Every state's insurance department has a list of insurers that are licensed to do business there, so that should be your first stop when vetting a company.

4. Evaluate their customer service

Good customer service is crucial, especially if you ever file a claim -- when you'll have to keep in contact with the company until the matter is settled. Your insurance company and its representatives should answer your questions quickly, efficiently and in detail. Ask other policyholders whether they received good customer service. Check with your state's insurance department to see if the insurer has had many consumer complaints about its service. You can also check their standings by going online to the Better Business Bureau and the National Association of Insurance Commissioners.

Whether you buy your home insurance through a broker, over the phone or through the Internet, make sure that the company and its local agent is easy to reach if you have questions. It's important to have peace of mind before you sign any type of policy.

For more on home insurance and related topics see these AOL Real Estate guides:

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Time to Refinance? 4 Questions to Ask

Vanessa Richardson — 2010-10-28T16:07:00 00:00

Five years ago, New Jersey homeowner Bill Allard bought a house with a 30-year fixed mortgage at a rate of 5.75 percent. But with mortgage rates now below 5 percent, he's wondering if he should refinance his loan. "I could get a lower rate and my monthly payments will be less, but will I come out ahead in the long run?" he asks.

Mortgage rates are at rock-bottom lows these days, meaning it's a good time for many homeowners to refinance their mortgages. But it's not always the best financial decision. In some cases, you may be better off sticking with your current mortgage.

The best way to determine whether now is the right time to refinance is to first ask yourself these four questions.

1. Are interest rates headed up or down?

If you think interest rates are on the way up, refinancing now will allow you to lock in a lower rate. If you have an adjustable-rate mortgage (ARM), you can take the opportunity to switch to a fixed-rate loan. That way, you don't have to worry about your payments climbing if interest rates rise.

If, like Allard, you already have a fixed-rate mortgage at a higher rate, refinancing can lower your monthly payments. But that doesn't always make it the right move. You still need to ask more questions.

2. Will it save me money in the long run?

True, lowering your interest rate will reduce your monthly payments -- but it won't necessarily save you money in the long run. Let's say you have 20 years left on your current loan. If you refinance now into a new 30-year mortgage with a lower interest rate, you've just added 10 years of interest payments, which may end up costing you more over the life of the new loan.

Do the calculations to determine whether refinancing into another 30-year mortgage will reduce your overall loan balance. If not, you may want to consider a new 15-, 20- or 25-year loan instead of another 30-year loan.

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3. Has my income and/or credit rating improved?

If your financial standing has improved and you're able to increase the amount of your monthly payment, you can refinance in order to build your home equity faster. "Converting your loan from a 30-year to a 15-year loan, or changing your payments from monthly to bi-monthly, will pay off your loan much faster and save you thousands of dollars in interest payments," says J.J. Sims, owner of ABC Mortgage in Minneapolis.

However, if your income and your credit score aren't what they used to be, those factors could keep you from qualifying for a low enough interest rate to make refinancing a viable option. Having too many credit cards, maintaining balances that are too high and having too many other types of loans will make you a high risk in a lender's eyes, and refinancing could cost you more money instead of saving you some.

If you're currently underwater on your home, a refinance is difficult but not out of the question. You may be able to get help through the government's Home Affordable Refinance Program (HARP).

4. How long do I plan to stay in my house?

Typically, you have to live in your house for a while for refinancing to pay off. When you're deciding whether to refinance, you should consider how many months of lower payments it will take to recoup the closing costs of the new mortgage. Bankrate does an annual survey of closing costs; the national average this year on a $200,000 mortgage, including loan origination and title fees, is $3,741. (Fees not included are taxes, insurance and prepaid items like homeowner association dues.) So, for example, if your monthly payment goes down by $150, it would take 25 months of lower payments to recoup the average closing costs.

In the end, that's why Allard decided not to refinance. His job may require him to move within the next 12 months. "Refinancing does not make sense if I put the house back on the market," he says. However, for homeowners in good financial shape who are planning to remain in their home for a while, it may be a good time to take advantage of historic lows and refinance into a new loan.

For more insights about mortgages and refinancing see these AOL Real Estate guides:

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Terry McMillan: Single and Selling at $3.3M

Vanessa Richardson — 2010-10-21T15:35:00 00:00

Filed under: News,Lifestyle

Many divorced women in their fifties look forward to starting a new chapter in their lives. Terry McMillan is one of them. The famous author of über-chick books and the film adaptations, "Waiting to Exhale" and "How Stella Got Her Groove Back," is starting her new life by listing her Danville, Calif. home for sale at $3.3 million.

Danville is an affluent neighborhood on the eastern (and sunniest) edge of the Bay Area. McMillan moved there 15 years ago to raise her son, and she enjoyed her time there but now, as McMillan recently told the Contra Costa Times, "for a 58-year-old single black woman, Danville's not exactly a rockin' place."
Another reason McMillan might be selling is because the home is where McMillan lived for six years with her now ex-husband -- a Jamaican 23 years her junior who inspired "How Stella Got Her Groove Back" -- until he announced that he was gay. That started a long, bitter and public divorce (the two appeared on Oprah for a rancorous he-said, she-said debate), though the two reportedly remain friends.

McMillan made another appearance just last month to describe how she was handling it five years later. Now McMillan plans to move to either New York or Los Angeles. She's currently adapting her "Waiting to Exhale" sequel, "Getting to Happy," into a screenplay that will start shooting next year with the four "Exhale" actresses, including Angela Bassett and Whitney Houston.

McMillan is leaving behind the 7,070-square-foot home (pictured below) that she built in 1995 on a private cul-de-sac at the foot of Mount Diablo.. With four-bedrooms and five-and-a-half baths, the house features vaulted ceilings, custom concrete interiors, and a 52-foot black-bottom pool and spa lined with slate. Listing agent Taso Tsakos of J. Rockliff Realtors told us the home is notable for its concrete interiors -- McMillan worked with Berkeley architect/interior designer Fu-Tung Cheng, noted for his concrete creations -- and its walls painted in a rainbow of colors.

"I wanted it to look like an art gallery," she told Architectural Digest when she the house was photographed for the magazine in 1999. McMillan said that her favorite room has been the game room because "it represents me more than any other -- rambunctious, colorful, a little wild but sedate."

While the kitchen and bathrooms still show off McMillan's flair for color, other rooms have been toned down to shades of beiges and creams. That seems more suited for the families who typically move to Danville, because it's not such a rockin' place.

See homes for sale in Danville, CA.
See rentals in Danville, CA.

For more on home selling and buying see these AOL Real Estate guides:

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Apple Gives Homeowners Deal of a Lifetime

Vanessa Richardson — 2010-10-08T13:06:00 00:00

Filed under: News,Lifestyle

Talk about price appreciation. Donnie and Kathy Fulbright bought a one-story house on less than an acre in Maiden, N.C., for $6,000 34 years ago, and they recently sold it for $1.7 million. The new owner? Apple Inc.

What does the Cupertino, Calif., maker of iPods and iPads need acreage in rural North Carolina for? The Fulbrights' property is adjacent to the plot where Apple is building a 500,000-square-foot warehouse that will store the servers and generators delivering the growing amount of songs, movies and apps downloaded daily to those iPods and iPads.

But it took a while for Apple to convince the Fulbrights to sell.
They had no interest in moving. When Apple came knocking, they declined an offer, then a second. Finally, "they told us to put a price on it, and we did," says Kathy Fulbright, 62. With the sale proceeds, the couple bought 49 acres nearby and built a 4,200-square-foot house with a Jacuzzi in the master bathroom, and a manmade pond stocked with catfish and bass.

Apple will finish its center by year's end. Stock analysts following Apple believe that

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the company will use it to let customers stream and store music and videos remotely, but Apple has not divulged its plans yet.

More rural homeowners, especially in North Carolina, Virginia and other Southern states, may also get the opportunity to cash out on their homes. Google already has a data center in a county that neighbors the location of the new Apple center. More states are offering tax breaks to woo tech companies data centers to their towns. Virginia and North Carolina are battling it out for Microsoft's newest data center. Facebook and Twitter also are looking for rural locations for their data centers.

States believe the tech companies' warehouses will add jobs. That's debatable, as well as whether they will improve property values. But one thing for sure, it might be wise to buy some rural property in the South and, like the Fulbrights, wait for a tech behemoth to come knocking a few times before cashing out for as much as you can.

For more on home buying and selling see these AOL Real Estate guides:

How to Shop for Your First Home

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Do I Really Need Flood Insurance?

Vanessa Richardson — 2010-10-04T14:07:00 00:00

Lou Andrews Smith is a homeowner in Sacramento who decided to let his flood insurance lapse for two reasons. "First, it just cost too much -- I had the standard policy and it's $1,400 a year now," he says. "Second, we've had years of drought and near-average rainfall. I don't live near a river or lake, so I don't feel that threatened."

Even if you don't live near the ocean or a river, that doesn't mean your home is flood-proof. And contrary to what people think -- that only people who live next to bodies of water are eligible for flood insurance -- anyone can buy flood insurance regardless of where they live.

"In fact, everyone lives in a flood zone," says Norm Ashford, a flood insurance specialist for the FEMA government agency. "The only difference is whether your home is located in a low-risk or high-risk flood zone." In Sacramento, where Smith lives, only residents in special flood hazard areas are required to carry flood insurance, but in fact, any area protected by a levee is considered to be in a floodplain, and that includes most of the city.

Even if you live in the driest part of the Southwest, you should at least consider it because, according to Ashford, the risk of flooding is 26 times greater than that of having a fire destroy your home. "It's the greatest single cause of property loss."

So if you're considering skipping the flood insurance, maybe you should first be familiar with how it might protect you.

How to Get Flood Insurance

Flood damage is not covered under your regular home insurance policy. (See "Home Insurance: What's Covered and What's Not.") And private insurance companies won't write flood insurance policies because they're considered too risky and not profitable. The only place that offers it is the National Flood Insurance Program (NFIP), run by FEMA, but you can obtain a policy through the same licensed insurance agent that helps you with homeowner's insurance.

How You Stand to Gain

Nationally, the average flood insurance claim is about $28,000, and a quarter of total claims filed by people in low-to-moderate risk zones. Flood insurance is mandatory in high-risk zones, but optional otherwise. You can find out if you're in a low- or high-risk zone by going to FloodSmart.gov to find out your risk level and get a general price range for flood insurance for your home.

What's Covered, What's Not

However, there are a few elements of the NFIP program that you should be aware of before you buy:

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First, its definition of a flood is very specific. It is:

"(a) general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from: overflow of inland or tidal waters" and "unusual and rapid accumulation or runoff of surface water from any source," among other factors.

The term "surface water" is an important one, because NFIP covers flooding that occurs on the surface of the land, like heavy rains, but not ground saturation from other sources that may seep into a home, such as sewer backups.

Secondly, the flood insurance does not give full-replacement coverage, unlike most home insurance policies, which would pay to restore a home to its original condition. Contents coverage must be purchased separately, which pays to clean clothes and replace furniture, electronics, carpets and curtains. A standard flood insurance policy includes only limited basement coverage. So while flood insurance will restore your basement to the state of an unfinished basement (cement floor, new wall framing and bare drywall), it won't replace carpet, furnishings and other water-damaged possessions. However, the policy will replace furnaces, plumbing, electrical fixtures, freezers and other equipment that makes your home function.

What to Do After a Flood

As with a home insurance policy, you should take quick action after disaster strikes by taking pictures to record the extent of the flooding and damage.

FEMA's Ashford says the cost of flood insurance is affordable. Those in low-to-moderate risk areas can get a preferred risk policy ranging from $119 to $395 a year to cover the home and its contents. High-risk area rates can go up to $2,633 a year. Lou Smith of Sacramento could switch from his standard policy of $1,400 to a preferred-risk policy of just $355 a year. If you're a renter, you can still get flood insurance to cover the contents in your rental apartment or home.

Deductibles start at $1,000 for residential policies and can be raised to obtain a lower premium. However, rates can change, as when FEMA updates its maps that assess the flood risk in various parts of the country.

Looking for more home insurance information? Here are some AOL Real Estate guides that might help:

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Secrets to Lower Home Insurance Premiums

Vanessa Richardson — 2010-09-22T14:00:00 00:00

Filed under: Buying

When you're hunting for a house, the cost of home insurance is probably at the bottom of your shopping list. But you should probably move it up a few notches. Sue and Joe Davis learned this when they went house hunting recently. While Sue loves old Victorian homes, he loves new, freshly built ones. Obviously, maintenance and renovations are cheaper on the latter, but the Davis' Realtor told them that buying a newer home could also save them money on home insurance.

Why? For starters, insurance policies are cheaper if a home's electrical, heating and plumbing systems are less than 10 years old. The Davises are looking in California, so buying a wood-frame home in that earthquake-prone area could also save them money. Factors like that could lower their insurance premiums by 10 percent, according to the Realtor.

Here are more ways to lower your home insurance premiums:

1. Consider the costs before buying a home

As mentioned above, think about the cost of insuring that dream home before you buy it. For example, the material it's built of is a significant factor in a homeowner's policy -- and it varies depending on where the house is. In the East, a brick house can have a lower premium because it's more wind resistant, while in an earthquake-prone area, a wood-framed house is more likely to stand. You may also pay less if you buy a house close to a fire hydrant, or in a community with a professional fire department instead of a volunteer one.

Jeanne Salvatore, spokeswoman for the Insurance Information Institute, recommends checking the CLUE (Comprehensive Loss Underwriting Exchange) report of the home that you are thinking of buying. It lists the insurance claim history of the property and can help you judge what problems the house may have that could boost home insurance premiums. You can order a CLUE report online at LexisNexis.

2. Shop around

First, do some online price comparisons. Get rate quotes from several insurance companies using websites like InsWeb or NetQuote. But don't settle on the cheapest quote. Make sure the insurer that you ultimately decide on is above board. Contact your state's insurance department to see if any complaints have been filed against the company, and check with rating companies like A.M. Best and Standard & Poor's to see if it's financially solid.

3. Raise your deductible

Like most other insurance plans, the higher your deductible, the more money you'll save on your premiums. Jeanne Salvatore says that most insurance companies now recommend a deductible of at least $500. If you can afford to raise it to $1,000, you can save as much as 25 percent.

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4. Buy your insurance policies from the same company

"Bundling your auto and home insurance policies with the same company can cut your bill by 15 percent," says Jean Chatzky, the "Today" show financial advisor and contributor to AOL's personal finance blog WalletPop. Just double check that the combined price is lower than buying different coverages from different companies.

5. Insure the house, not the land

Your home is at risk from theft, fire and other perils, but the land it sits on is not. So don't include the land's value when you're deciding how much home insurance you need to buy.

6. Make your home more safe and secure

Find out from the insurance company what you can do to make your home more disaster-proof. By adding storm shutters, reinforcing your roof or upgrading your electrical system, you could save on premiums. Also, your insurer could offer discounts if you burglar-proof your home, from 5 percent each for deadbolt locks and smoke detectors to up to 20 percent for a sophisticated security system.

7. Check your policy once a year

Don't spend money for coverage that you don't need. If you just sold a valuable painting, you won't need the same coverage amount. On the other hand, you'll need to increase coverage after you add an extra room to the house.

8. Keep your credit clean

These days, insurers are creating an "insurance score," says Salvatore." An insurance company uses credit information, together with your insurance history, to predict whether you are more or less likely to file a homeowner's claim. This allows them to provide insurance to more people and to offer it at a lower cost to those who qualify." That means a solid credit history can definitely cut your home insurance costs. So pay your bills on time, keep your credit card balances as low as possible and check your credit record regularly to make sure that all the information is accurate and up to date.

For more home-insurance tips see these AOL Real Estate guides:

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Real Estate Agents Grab for Rental Listings as Sales Stagnate

Vanessa Richardson — 2010-07-26T11:07:00 00:00

Filed under: News,Economy,Lifestyle

I've lived in three apartments in San Francisco over the past decade. For each one, my landlord has always been a "mom and pop" team, an older married couple who bought the house or building as income property or kept it after they moved elsewhere, and decided to handle the renting and tenant management duties themselves. Now brokers and agents have taken control of much of the city's apartment rental market, and the same thing is happening in many American cities since home sales have slowed down.

I've had a good relationship with all of my landlords -- one woke up at 2 a.m. after my frantic call and rushed over to fix a gushing sink pipe; another stopped by with homemade chicken soup when I had the flu. But that type of renter-landlord relationship is quickly becoming a thing of the past.
It's a new turn for a city known for rent control protection and strong tenants' rights. And it's a concept that could be more expensive and less friendly to renters. Bay Citizen real estate columnist Scott James looked at Craigslist on June 19 and saw that of the 591 housing rental listings in San Francisco, 315 of them, or 53 percent, were clearly identified as represented by brokers or agents. Brokers had a virtual lock on some neighborhoods -- they controlled 72 percent of listings in North Beach and 82 percent in the South of Market area. Both areas are popular for young people who want to live near their downtown jobs, and both have far more apartments than houses. James interviewed other brokers and real estate experts in the area who all confirmed the shift to broker representation.

In New York City, this is nothing new. Brokers have had a lock on the tight rental market there for decades, and it's not unusual for them to charge renters hefty fees of 6 to 15 percent of an entire year's rent. San Francisco landlords still pay the brokers their fees, and leasing agents here are not as powerful as in NYC, but that probably will change, and renters will have to adjust.

So is this just the way things work in two cities noted for their high rents, or will the trend spread nationwide? When I called Gail S. Phillips, executive director of the National Association of Residential Property Managers, she said that I was the second journalist that day to call with that question. She had just gotten a story request from the Chicago Tribune, asking why the rise in property management in that city. "We are seeing a shift in more metropolitan areas," Phillips told me. "It could be the economy. With properties not selling, people want to rent them but don't want to shoulder all the management tasks."

Agents are also affected by a slow home-sales market: Looking to make up lost revenue, they're getting into managing apartment rentals. The fringe benefit: Making relationships with prospective homebuyers. In bigger cities, the new housing being built is condos and apartments, and the owners are not mom-and-pop landlords but corporations and business investors who outsource the management duties.

But are those duties really worth paying 6 percent-and-up in fees? Tony Drost, a property manager in Boise, Idaho, says yes. "Being a landlord has gotten a lot more complicated," he told me. "Too many have gotten burned by smiling tenants holding cash, and they look at a professional property manager to protect them."

He says property managers are better able to run background checks and screen for suitable tenants, know fair housing laws and how to follow them, advertise the property in all the right venues, and they actually save the owners time and money by taking the load off their shoulders. And as incoming president of the National Association of Residential Property Managers, Drost says property owners are replying on professional managers more than ever.

What does that mean for you renters? Possibly higher rents (landlords have to come up with the money to pay management fees somewhere) and likely a higher risk of having to defend your rights as a tenant. Ted Gullickson, director of the San Francisco Tenants Union, says property managers are more aggressive at enforcing lease provisions. When it comes to long-term tenants in rent-controlled apartments, they're actively searching for lease violations. He tells me that a third of the complaints he gets are from renters dealing with property management companies.

If the apartment you want is managed by an agent or broker, Gullickson recommends that you have a second pair of eyes (preferably a real estate attorney's pair) look over the contract. "It's not uncommon these days for tenants to receive 25- to 30-page rental agreements," he says. "In general, it favors the lease -- favors the landlord. And some agreements are full of stuff that's not enforceable, but it's put in there anyway in the hopes that the tenant might believe it is. So it's very important to understand the agreement."

On the upside, you can still negotiate with a property manager before you sign, and get some concessions. "Property management has spawned a printing industry of rental agreements, and it may not have been personally drafted up, so there may be 'no this' or 'no that' clauses that the owner doesn't care about," Gullickson says. "So if there's a 'no pets' clause and you have one or want one, ask how flexible it is. Can you get a cat in the future? Do fish count? What about a small dog?" Also try bargaining on amenities. A building manager might give you a free health club membership, new carpeting, fresh paint and wallpaper, if you simply ask about them.

While professionally run buildings may be less willing to negotiate discounts on the monthly rent, there are some rent-reducing options you can ask about to save money. If you want to stay put for a few years, try negotiating a longer lease term for two or three years. You might not get a lower rent price, but you could save money by locking in at your current rate.

At smaller apartment complexes or a stand-alone rental, offer to perform routine maintenance work, like mowing the lawn, vaccuming the hallways, or tending the building exteriors, in exchange for a price cut. Think of things you can do that saves the landlord time, money and headaches. You probably won't get chicken soup when you're sick, but as long as you have a lease that protects you from eviction and extra fees, that's saying something as corporate middlemen take over as landlords from Mom and Pop.

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Are Bill and Hillary Clinton Moving On Up?

Vanessa Richardson — 2010-07-15T15:05:00 00:00

Filed under: News

It's still a rumor, but it seems the Clintons are planning a move. The former first couple would still be staying in Westchester County, N.Y., but moving nine miles north, from upscale Chappaqua to even more upscale Bedford Hills. Apparently, they're eyeing Clover Hill Farm, a 7,000-square-foot estate on 20 acres in an area known for rich horse lovers and low-key celebrities.

According to the Coldwell Banker listing, Clover Hill Farm, priced at $10.9 million, boasts five bedrooms; a fireplace in the master bedroom; a wood-paneled library; stone patios; a wine cellar; his-and-her bathrooms and dressing rooms (hers is two stories); a heated pool and poolhouse; two guesthouses; an artist studio; stables, pastures and a dressage ring; and a koi pond.

The agent is Mady Wengrover in Coldwell Banker's Bedford, N.Y., office.

It's been 11 years since the Clintons moved to 15 Old House Lane in Chappaqua, when Hillary was eyeing a U.S. Senate seat from New York.

Also with five bedrooms, their Dutch Colonial is no dump (Zillow.com estimates it at $1.3 million), but it only has one acre and is a frustrating place for the Secret Service to secure -- you can drive within 60 feet of the Clintons' front door.

The Clintons initially got flack for buying the Chappaqua home. They were accused of using it as a suitable site for Hillary to start her political career, as a resident of a nice-but-not-too-ritzy part of New York State, and that it would only be a part- or -quarter-time residence.

But in fact, the Clintons make good neighbors. The New York Times' Peter Applebome writes that they got very involved in the community, marching in Memorial Day parades, walking the dog at the local high school track, buying egg sandwiches and Starbucks coffees downtown, even attending neighbors' Super Bowl parties.

At Clover Hill Farm, their new neighbors would include Glenn Close, Richard Gere, Martha Stewart and other rich folks who probably own more than one horse.

But Bedford Hills is considered a rung down the ritzy scale than Bedford Village next door, due to two prisons in the area -- one of which is the state's only maximum-security prison for women.

"Does it make sense," asks Chappaqua resident Lawrence Otis Graham in the Daily Beast,"to leave a home five blocks from the bucolic Reader's Digest 114-acre campus to move into a house that sits on the same street as two infamous state prisons? The rooftop of the Harris Road mansion is as visible to a local pedestrian's eye as the glistening coils of barbed wire that loop near the yellow sign and walls down the street...."

But while a suburban cul-de-sac is perfect for a junior senator, it's not needed, politically, when you're secretary of state. The Clintons probably want more privacy and space, which Clover Hill Farm has. And it's not a given that they'll buy it. They've reportedly been looking at other Westchester locales, and even as far north as Woodstock near the Catskills.

One thing's for sure, buying a new house is not at the top of their immediate to-do list -- Chelsea's wedding is July 31.

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NFL's Joe Montana Selling Wine Country Mansion For $49M

Vanessa Richardson — 2010-07-14T18:39:00 00:00

Filed under: News,Lifestyle

Seventeen years after he left San Francisco as the iconic quarterback of its 49ers football team, Joe Montana is back in town -- this time as an empty-nester renter. The reason for the switch? All four kids have moved out, so "Joe Cool" and his wife, Jennifer, are scaling back to a smaller (relatively speaking) in-town rental and selling off their California residences.

The crown jewel of those homes is Villa Montana, an expansive wine country ranch, currently on the market for $49 million.

But is it worth its pro-league price tag?
Believe it or not, the answer is probably yes. The 500-acre retreat is officially located in Calistoga, but the property sprawls from Napa County northward into Sonoma County. The 9,700-square-foot Tuscan-style house, which took three years to build, boasts a bell tower and baronial details, but also has those football-player essentials: a beer tap, pizza oven and multiple hidden flat-screen TVs.

Montana, a food and wine aficionado, imported a lot of furnishings bought on European shopping sprees, including a hanging tapestry in the 22-foot-high great room, a Montana family crest painted by a French artist set over a marble fireplace, tall iron gates from the 16th century, and a marble bathtub so heavy it needed to be moved by crane. "But the fish are local," Montana said about his 45-foot-deep pond stocked with bass, during an interview with the Wall Street Journal in November 2009, when he first put Villa Montana on the market.

Besides football and fishing, Montana also has a love of horseriding. Riding trails zigzag the property and the equestrian stable has an indoor arena and 17 horse stalls, each one with its own heat lamp, fan and video camera. There's also a swimming pool, basketball court and skeet-shooting range. The gym is in a separate building, and it's where Montana kept his Sports Illustrated covers and three Super Bowl MVP trophies (probably not included in the sale).

The Montanas didn't live there much -- once their two boys were of school (and football-playing) age, the family moved east of San Francisco Bay, then down to Thousand Oaks in Southern California. The moves for good high school football playing paid off -- the eldest son, Nathaniel plays quarterback at Notre Dame, Montana's alma mater, and the youngest, Nicholas, just started at the University of Washington.

Montana's new digs are a leased two-bedroom on the 41st floor of the high-rise Millennium Tower in San Francisco.

So why back to San Francisco? Montana told the Chronicle that when he came to the city for an event, "we came to look at the building and got a tour and just fell in love with it, the views and the location." At 58 stories, the Millenium Tower is the fourth-tallest building in the city. The Montanas live in the Grand Residences section, floors 26 to 60, which get special access to a wine cellar and tasting room, the Sports Club L.A.-run fitness center and a private bar and dining room serviced by the new restaurant owned by S.F. chef extraordinaire Michael Mina.

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The Grand Residences' for-sale prices run from $600,000 to $5 million, and monthly rentals are $4,000 to $20,000. The pads feature 10-foot ceilings, kitchens with Wolf appliances and Sub-Zero refrigerators, and of course sweeping views of the city and the bay. Montana can even see his old workplace, Candlestick Park, from his window, but he says has nothing to do with the 49ers anymore.

Instead, he plans to be a true empty-nester and hang out in his favorite spots, the nearby Ferry Building and Union Square, when he's not flying off to his sons' football games. And even though Montana has had multiple surgeries and is now suffering from a bad back, arthritic knee and a damaged eye nerve, he intends to get around by public transit and on foot. He's not worried about being mobbed by locals who remember him as the great god of 49ers football. "The more you're around, the more people get used to seeing you around."

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