The 7 Best Cities for Bargain Hunters

Find out where a home buyer’s dollars can stretch the furthest.

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VA Program Sparks ‘Loan Churning’ Concerns

Ginnie Mae officials recently testified to lawmakers that “loan churning” within the veterans program is putting vet borrowers at…

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What Your Broker Is Worried About

Real estate companies nationwide reveal the most pressing issues they face in 2018.

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Home Laundry: To Vent or Not to Vent

I once believed it was a forgone conclusion that when adding certain laundry appliances to a home, it would mean installing exhaust ducting and cutting a hole to the outside for venting.

However, a recent report from Michele Weaver at Design Basics, LLC highlighted a growing trend in ventless dryers that can be easily located and relocated within a home because vent piping, exhaust holes and venting to the outside are not needed.

The mechanics of a home dryer can cause energy and safety problems if lint becomes trapped in the vent. This demands more energy use and frequent cleaning. Weaver believes one of the major trends consumers will be seeing in these key appliances will be the further refinement of ductless technology.

She says vent hoses snaking through a home’s framing have become a leading cause of the 2,900 (average) home clothes dryer fires reported annually, according to the U.S. Fire Administration.

J.D. Wollf at HomeSteady.com recently explained that a ventless or condenser dryer— also known as a Heat Pump Clothes Dryer (HPCD)—doesn’t need a vent because instead of expelling the hot, moist air, a heat exchanger removes the moisture from the hot air and “recycles” it, passing it back through the drying clothes. The excess water is then drained away or caught in a container that is later emptied.

The trade-off for energy savings and safety is a requirement for slightly more maintenance than vented dryers. Wollf says the condensing unit must be cleaned about once a month to remove any lint.

A study at the Florida Solar Energy Center at the University of Central Florida states that while an unvented HPCD uses less electricity than a standard resistance dryer, it was found to release significantly more heat than a conventional dryer during operation, demanding additional cooling energy that may compromise overall savings.

However, the study points out that with a current retail cost of $948, there is only a small premium on the HPCD dryers, making them cost-effective when chosen at time of replacement.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Home Laundry: To Vent or Not to Vent appeared first on RISMedia.

Continue Reading →

Home Laundry: To Vent or Not to Vent

I once believed it was a forgone conclusion that when adding certain laundry appliances to a home, it would mean installing exhaust ducting and cutting a hole to the outside for venting.

However, a recent report from Michele Weaver at Design Basics, LLC highlighted a growing trend in ventless dryers that can be easily located and relocated within a home because vent piping, exhaust holes and venting to the outside are not needed.

The mechanics of a home dryer can cause energy and safety problems if lint becomes trapped in the vent. This demands more energy use and frequent cleaning. Weaver believes one of the major trends consumers will be seeing in these key appliances will be the further refinement of ductless technology.

She says vent hoses snaking through a home’s framing have become a leading cause of the 2,900 (average) home clothes dryer fires reported annually, according to the U.S. Fire Administration.

J.D. Wollf at HomeSteady.com recently explained that a ventless or condenser dryer— also known as a Heat Pump Clothes Dryer (HPCD)—doesn’t need a vent because instead of expelling the hot, moist air, a heat exchanger removes the moisture from the hot air and “recycles” it, passing it back through the drying clothes. The excess water is then drained away or caught in a container that is later emptied.

The trade-off for energy savings and safety is a requirement for slightly more maintenance than vented dryers. Wollf says the condensing unit must be cleaned about once a month to remove any lint.

A study at the Florida Solar Energy Center at the University of Central Florida states that while an unvented HPCD uses less electricity than a standard resistance dryer, it was found to release significantly more heat than a conventional dryer during operation, demanding additional cooling energy that may compromise overall savings.

However, the study points out that with a current retail cost of $948, there is only a small premium on the HPCD dryers, making them cost-effective when chosen at time of replacement.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Home Laundry: To Vent or Not to Vent appeared first on RISMedia.

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4 Ways Brokerages Can Be More Client-Centric

Retain customers and increase referral business this year with these tips.

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NAR Restructures to Improve Member Service

CEO Bob Goldberg announces that many NAR groups have been reorganized to make the association’s internal structure run more…

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Owners Get Real About Home Values

A chart shows the difference between homeowners and appraisers’ perceptions on the value of properties, as seen in the nation…

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How to Cancel a Check

(TNS)—Do you have a checking account? What should you do if you sent a check to someone and it hasn’t arrived weeks later? If you’re worried that it may have been lost or stolen, it’s critical you cancel it, or stop payment, as soon as possible.

Here are the steps to cancel a check—and what it may cost you.

Personal Checks vs. Cashier’s Checks
Your personal check contains your name, your account number, a bank routing number, a check number, the payee’s name and the amount payable. When the payee’s bank receives the check, your signature authorizes the bank to transfer funds from your account to the recipient’s account. Usually it takes a couple of business days for a check to clear once it’s been deposited. If a check hasn’t cleared, you can stop payment on it.

A cashier’s check, on the other hand, is drawn directly on the bank that issued the check and not on your account. You may need to use a cashier’s check when you are making a large payment, such as a security deposit on an apartment. You pay the bank the sum needed and a small service fee of $10 or so, and the bank guarantees the funds to the payee. In most cases, banks must honor a cashier’s check when it is presented, and a stop payment is not available.

How to Cancel a Check
If you made an error when writing a personal check—such as making it out for the wrong amount—or if you think the check may have gotten lost in the mail, the first thing you should do is review your account’s transaction history online or call the bank’s 800 number to find out if the check has already cleared.

If the check has not been posted, contact your bank to stop payment. You’ll need a few pieces of information to do this:

  • Your account number
  • The exact amount of the check and who it was made payable to
  • The check number

If you are enrolled in online banking, you can stop payment on a check from your mobile device or computer. Otherwise, you’ll need to call the bank or visit your branch office.

If you make your stop-payment request in time and in writing, your bank won’t be able to cash the check for six months. After that, your stop payment request expires and the check could be paid. Many banks, however, don’t honor checks after six months have passed (but be sure to ask your bank). If you make a stop payment request by phone and do not follow up in writing, the bank can cash the check after 14 days. That’s why it is important to renew your request in writing.

If your check has already been cashed and you suspect fraud, contact you bank so it can initiate an investigation. By law you are generally not responsible for a check if someone forged the signature of the person to whom you made out the check.

Cost of Canceling a Check
Depending on your bank and the type of account you have, you may have to pay a fee of between $15 and $30 to stop payment on a check. If you have an interest-bearing checking account with a fairly high monthly minimum balance, the fee may be waived altogether. Contact your bank to find out exactly what you can expect.

Visit Bankrate online at www.bankrate.com.

©2018 Bankrate.com
Distributed by Tribune Content Agency, LLC

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Infographic: How Recent Buyers Purchased Their Home

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Demand and home prices are increasing, but that has yet to keep homebuyers out of the market. Here is how they did it:

For more information, please visit www.nar.realtor.

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