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How To Install A Water Heater Jacket

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Water heater savingsA simple way to save money is to improve your home’s energy efficiency rating.  For example, Minneapolis/St Paul homeowners can save up to 9 percent per year on water heating costs simply by installing a water heater jacket.

Water heater jackets are easy to install. Here’s how you do it :

First, before you go shopping, check whether your water heater is a gas model, or an electric one. Then, write down your water heater model number. Most water heater jackets list compatible water heater models on their respective packaging. Look for jackets with a value of “R-8”.

Then, as you start your project, be sure to turn the water heater off.

Water heater jackets are pre-cut to make installation simple. Remove the outer packaging and separate the jacket’s pre-cut pieces. There will likely be a top, a body and belts. You’ll want to have plenty of duct tape on hand, too.

Next, shape the top of the water heater jacket to fit your appliance.  Trim around the pipes which enter the water heater, then tape the areas closed. This will form a strong seal.

Tape the top edges down to the side(s) of the water heater.

Then, take the body of the water heater jacket and wrap it around your water heater’s mid-section. Have the belts ready and secure them, taking care that the belts don’t push the insulation down more than one-quarter of its thickness.

Lastly, outline the access plate with a pencil on the insulation exterior, and use scissors or a knife to cut the insulation out. Tape the edges to avoid fraying and set the water heater to a temperate no higher than 130 degrees.

Note that outfitting a gas water heaters with jackets can be more complicated than with electric water heaters because of construction. If your water heater is a gas model, consider hiring a professional to handle your installation.

Housing Starts, Building Permits Rising Into 2013

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Housing Starts November 2011Single-family housing starts took a small step back in November.

According to the monthly Housing Starts report from the U.S. Department of Commerce, single-family housing starts tallied 565,000 in November 2012 on a seasonally-adjusted, annualized basis. This marks a 4 percent decline from October, but is more than 100,000 higher than the count from 12 months ago.

Clearly, the nation’s new home construction market is expanding.

On a regional basis, single-family housing starts have been strongest in the Midwest; and Hurricane Sandy appears to have affected the number of starts across the Northeast.

As compared to one year ago:

  • Northeast Region : Housing starts down 19% on an annual basis
  • Midwest Region : Housing starts up 40% on an annual basis
  • South Region : Housing starts up 24% on an annual basis
  • West Region : Housing starts up 33% on an annual basis

It’s expected that new construction growth will continue into 2013, too. This is because the Department of Commerce report also showed Building Permits mostly unchanged for November at 565,000 units on a seasonally-adjusted annualized basis.

As compared to November 2011, this marks a 25% increase. Permits for multi-family homes are up 17%, too.

There are more building permits being issued today that at any time in the last 4 years.

For home buyers, this may be good news. Rising permits and housing starts suggests a more healthy U.S. economy, but it also means that home supplies may not be as tight throughout the next few months.

Overly-tight home supplies in some U.S. markets have contributed to rapidly rising home values. With more construction and larger home inventories, home prices may rise in 2013 less slowly.

The good news, though, is the mortgage rates in Minneapolis remain near all-time lows and low- and no-downpayment mortgage programs are abundant. For today’s home buyer, there are plenty of affordable ways to purchase a home.

Talk with your real estate agent and your loan officer to see which plan works best for you.

For Minnesota Real Estate

3 Ways To Purchase Foreclosed Properties

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Foreclosure signThe process of buying a foreclosed home is slightly different from the process of buying a non-foreclosure home.  If you want to invest in St Paul foreclosures, therefore, it is important to understand the different ways by which to purchase a foreclosed home.

There are three main ways to buy a foreclosed home.

Buying before the auction
Some delinquent homeowners may want to sell their homes before facing an actual foreclosure.In this instance, the homeowner, in agreement with the lender, agrees to sell the home for less than the amount owed on the mortgage.This is called a short sale. Short sales are “pre-foreclosures”, of sorts. By broadening your home search to include short sales, you can identify homes that may be sold at a discount.

Buying at the auction
Another way by which you can invest in foreclosure homes is by buying the home at auction. From area to area, the legal requirements for the sale of a foreclosed home at auction may differ. If you plan to buy at auction, you’ll want to be familiar with your area’s customary judicial proceedings.

Buying after the auction
Buying after the auction means buying bank-owned properties. This can be the most lucrative and safest means of investing foreclosure properties. This is because lenders often reduce the sales prices of their home inventory in order to “sell it quickly”. It can be expensive for banks to own foreclosed homes, and few banks are equipped for managing owned homes. Check with your local real estate agent to see what, if any, bank-owned homes are available for sale in your area.

The process of buying a distressed home is different from the process of buying a “traditional” one. Therefore, regardless of which path you follow to buy a foreclosed property, have an experienced real estate professional on your team.

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