According to a news release on November 8th, The Appraisal Institute says that now is the time to winterize homes and why not do it with improvements that can benefit the quality, comfort and value of your property. Well that certainly makes a lot of sense to me.

The article goes on to say that according to Remodeling magazines 2018 Cost vs Value Report (https://www.remodeling.hw.net/cost-vs-value/2018/) the projects with the highest expected return on investment are:

· Garage door replacements (98.3% cost recouped)

· Manufactured stone veneer installation (97.1% cost recouped)

· Entry door replacements (91.3% cost recouped)

By the way cost vs repair value website above has national, regional and city data which list the various common projects, the cost, resale value, cost recouped and even changes from 2017. It’s a really handy website for investors and consumers.

Other considerations should be protections for:

· Lawns

· Decks

· Roofs

Sealing air leaks, according to the Energy Saver Guide (https://www.energy.gov/sites/prod/files/2017/10/f37/Energy_Saver_Guide-2017-en.pdf)can save a consumer 10-20 percent on heating and cooling bills.

How does this pertain to real estate and note investors?

Here are a couple of what if scenarios for you:

· If you are a landlord it could make sense to do these repairs now before winter sets in and prices and inconveniences go up.

· If you own an unoccupied home, you will want to, of course, fully winterize it to prevent frozen pipes etc.

· If you own a Land Contract (an arrangement where the note owner has legal title property and the borrower has equitable title) on a borrower occupied home, such maintenance is not really your issue but perhapsit may be in your best interest to send a letter or report reminding them that it may a good idea to think about winterizing. Remember, if code violations go on the property, as the Land Contract owner, those fines are ultimately on you.

· If you own a note and security agreement on a vacanthome, you do have the right to secure that property even though you do not own it. That property is your collateral and you have the right to protect it.

· If you own a Non-performing note and security agreement on an occupied property (non-paying borrower or unauthorized tenants), you will want to consider that it may be better to leave unpaying occupants in the house through the winter to prevent freezing pipes etc.

Kevin Shortle

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