RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Are You Using Your Credit Card Responsibly?

October 23, 2015 12:45 am

There are several myths surrounding the use of credit cards – in fact, the majority of credit card users surveyed recently by CompareCards wrongly believe they use their cards responsibly.

"Even though more than half of respondents don't fully pay off their credit cards on a monthly basis, they believe they are using them responsibly," says Chris Mettler, founder of CompareCards. "This is concerning, as it reveals that many consumers may not be aware of just how much their spending habits impact their credit and long-term debt."

The results of the survey indicate credit card users vary in how often they fully pay their monthly credit card bill – just 35 percent always pay in full. The survey also found nearly a third of respondents have four or more credit card cards, and an equal amount use their credit cards very often for purchases.

Additionally, over 20 percent of respondents have $5,000 or more in total debt.

Credit card habits affect a person’s credit score, which can determine whether he or she qualifies for a loan to purchase a home, among other decisions.

Source: CompareCards.com

Published with permission from RISMedia.


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HVAC Testing Necessary for Off-Season Homebuyers

October 23, 2015 12:45 am

Did you know colder climates can make it harder to determine the functionality of a home’s systems? If you’re purchasing a home at a time when temperatures are falling, it’s important to enlist the services of a seasoned home inspector, says the National Home Service Contract Association (NHSCA), especially when assessing the HVAC system.

When temperatures fall below 65 degrees Fahrenheit, a home inspection report can only verify that a unit will turn on, not if it actually cools. In winter, the coldest spot in a refrigeration circuit is in the compressor crankcase, located outside the home. Because refrigerant naturally migrates to the coldest spot in the unit, if the system is tested, the refrigerant may travel into the compressor, causing damage.

Ensure your home inspector pays special attention to the testing of the HVAC unit, and request the seller provide a home service contract as part of the transaction to help insulate yourself from costly repairs or replacements for undetected problems. In addition to HVAC systems, home service contracts generally provide service, repair or replacement for items such as dishwashers, ovens, disposers, and electrical and plumbing systems, but do not cover pre-existing conditions. Paying particular attention to the contract’s terms and conditions can help avoid confusion when a service call is needed.

To offer reassurance that the system is operating properly, real estate agents representing the buyer will generally ask the seller to sign a form stating the date of the last time the air conditioning system was fully functioning. If a home has been on the market for an extended period of time, however, this statement may not provide accurate information on the current condition of the unit.

“If a house has been sitting empty and an undetected leak has slowly depleted the refrigerant, the new owner will have no idea until they turn the air conditioning on in the summer,” says Jeff Powell, NHSCA chairman. “At that point, a service call to get the refrigerant level back up and the unit running will likely cost upwards of $250 to $300. They also need to understand that low levels would indicate a leak in the line that will continue to deplete refrigerant until it is located and fixed. That translates into more repair dollars for the homeowner.”

In the past, some homeowners have opted for a temporary fix by simply having refrigerant added to their systems to keep them operational. However, a dramatic increase in the cost of refrigerant can make this approach as costly as a repair.

Source: NHSCA

Published with permission from RISMedia.


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