Parkes Real Estate

Basement walls - Cracks & Shrinkage

Garry Parkes & Associates — Fri, 30 Jul 2010 08:25:11 -0700

Mike Holmes – Cracks and Shrinkage

So here’s a question for you, courtesy of dozens of emails: Dear Mike, I’ve got a crack in my foundation — is it a problem?

Yes, absolutely. And, not necessarily. There are different types of cracks, as well as different types of foundations. And, depending on where the crack is, it may or may not be a big deal.

I’m going to say it upfront: If you’ve noticed a crack in your basement floor or wall, you should call in a foundation specialist for an opinion. You aren’t qualified to assess if it’s serious, and I can’t see it from here. It may be a new crack, or it’s got bigger so you’ve just seen it for the first time. Neither of these is good news.

A lot of people are afraid of calling in specialists because they think it will cost more, or because they think there will be an upsell on the services required. But this is not something you should let slide, because the crack won’t fix itself.

In this case, “what I don’t know can’t hurt me” is 100% wrong. With a foundation crack, your house’s structure could be compromised, and that is serious.

Here are some things I do know: Small cracks can indicate big problems. Small cracks can let insects, vermin and water in. Small cracks can grow bigger, and the bigger the crack, the more expensive the repair.

Different cracks indicate different possible problems with your foundation, and they give clues to what the cause might be. Bulging and bowing walls, step cracks in blocks or bricks, vertical cracks, horizontal cracks,in walls, in floors — they all mean something.

The most common foundation cracks are caused by concrete shrinkage. Concrete is made with water, cement and aggregate — it will shrink as it cures and dries. It is affected by temperature. If its curing is interrupted by a drop in temperature — let’s say a cold freeze happens on the night your basement walls were poured — that will affect the final product. Or, if your basement pad was poured in intense heat and sun, it will dry too quickly. That will cause cracking.

Cracks caused by concrete shrinking aren’t usually a problem — at least not one that’s structural. But they can allow water or insects to get into your home, so they need to be dealt with.

Another reason might be settlement; your house is settling into the soil. That’s not so good, and there are a few things that may be causing it. For example, if your house’s footings aren’t adequate or are damaged, there might be settlement, which can cause cracks.

This settlement might be caused by something beyond your control. For example, if the soil around your home is saturated with water, or if your area has had a drought for a long time, you may find problems develop with your foundation. In the first case, the groundwater rises and exerts pressure against your house’s foundation walls and floor. In the case of extended dry periods, the soil actually shrinks as the water evaporates out and that can allow your foundation to settle. That settling may cause a part of your home to sink.

Concrete has a lot of compressive strength but not much tensile strength, so it’s prone to cracking if there is lateral pressure pushing against a wall. That’s why we add rebar or fibre to concrete in some situations to improve its tensile strength.

So where is that pressure coming from? There is a lot of pressure from the water that’s held in the soil around your home, and in the water table. The amount of this water will change, depending on seasonal rain and drought, especially on clay soil.

Think of your house as a boat, except instead of floating in water, it’s sort of floating in the soil that surrounds the basement. That soil is fluid; it’s in motion, and it’s shifting and exerting pressure at all times on your foundation.

Some wet soils can be almost 40% water. So, think about extremely dry conditions, when that soil will shrink, and how that can affect your home. In times when there is too much rainfall over a prolonged period of time, what’s that water pressure going to do? And, in winter when that water freezes, it will expand, putting more pressure against the wall of your foundation. That can cause a crack.

There are lots of other reasons for cracks in foundations, some as simple as backfilling around the house during construction. That can lead to cracking, either by equipment hitting the wall or dumping the load against the improperly supported wall.

Not all cracks should be taken lightly. A horizontal crack is one I’d pay attention to. Typically, it indicates your wall’s structural integrity has been undermined.

Horizontal cracking higher up on the wall is usually from frost damage, and the freeze-thaw cycle; water from your downspouts or sump pump saturates the area, it freezes and exerts pressure on the basement wall. Or it might be from vehicle damage or improper backfill.

When it comes to basement cracks, don’t be an ostrich and stick your head in the ground. If you’ve got a foundation crack, check it out. Call in a structural engineer or foundation specialist for an opinion.

Article supplied by National Post – July, 2010

Fixed vs Variable Rates

Garry Parkes & Associates — Fri, 30 Jul 2010 07:43:09 -0700

Fixed vs Variable

Economists are predicting the overnight lending rate (which controls bank prime) will increase by as much as 200 basis points (2%) within the next 24 months. Borrowers are agonizing over the decision – fixed or variable. The variable rate mortgage is so low today but those rates are not going to last. So do they lock into a 5 year fixed rate or take a chance? I have done some calculations and offer the following results.

If a borrower today mortgages $250,000 over a 25 year amortization with monthly payments and chose a 5 year fixed rate of 4.39%, their principal balance at the end of the 5 year term would be $219,089.

If the same borrower chose a VRM at prime less .50% and prime rose by 2.0% over the next 2 years and rose to 5.50% by year 5, their principal balance at the end of 5 years would be $208,845.

The savings is $10,244 over 5 years. This is pretty significant. The other advantage to a Variable Rate Mortgage is if the term is broken prior to the maturity date, the penalty is only 3 months interest. However, a variable rate mortgage is not for everyone. If you need the piece of mind a fixed rate offers, today’s rates are still very affordable.

Welcome to the July issue of the News & Rate Advisor.

Current Mortgage Rates

Variable Rate

1.90%

1 Year

2.60%

2 Year

3.10%

3 Year

3.49%

4 Year

3.99%

5 Year

4.19%

7 Year

4.90%

10 Year

5.49%

Prime Rate

2.50%

* Rates subject to change and OAC.

Canadian Qualifying Rate

Jul 2010

Rate

5.89%

Source: Bank of Canada

Current Mortgage Rates - 1/3/5 Year Rates

Jul 2010

Jul 2009

Jul 2008

1 Year

3.50%

3.75%

6.95%

3 Year

4.40%

4.55%

7.00%

5 Year

5.79%

5.85%

7.15%

Source: Bank of Canada

Nationwide Building Permits

May 2010

May 2009

May 2008

Residential

$3,661,371,000

$2,669,262,000

$3,727,245,000

Commercial

$2,322,123,000

$2,468,803,000

$2,948,191,000

Total

$5,983,494,000

$5,138,065,000

$6,675,436,000

Source: Stats Canada - preliminary figures

Current Bank & Prime Rates

Jul 2010

Jul 2009

Jul 2008

Bank Rate

0.75%

0.50%

3.25%

Prime Rate

2.50%

2.25%

4.75%

Source: Bank of Canada

Average House Prices by Province

May 2010

May 2009

May 2008

National

$346,881

$319,757

$318,761

Yukon

$311,778

$309,039

$304,871

Northwest Territories

$409,490

$337,577

$331,939

British Columbia

$497,371

$465,139

$477,448

Alberta

$364,303

$339,296

$360,284

Saskatchewan

$237,618

$242,829

$233,340

Manitoba

$229,813

$204,276

$203,671

Ontario

$352,523

$322,059

$316,103

Quebec

$252,558

$227,393

$219,886

New Brunswick

$166,057

$166,672

$152,823

Prince Edward Island

$145,113

$149,475

$126,661

Nova Scotia

$218,129

$207,135

$202,569

Newfoundland

$200,649

$200,649

$170,999

Source: CREA - Most Recent Month Reported

Average House Prices by City

May 2010

May 2009

May 2008

Yellowknife

$409,490

$337,577

$331,939

Vancouver

$661,745

$583,674

$624,639

Victoria

$515,126

$482,119

$514,100

Edmonton

$340,723

$326,332

$340,499

Calgary

$417,978

$382,632

$418,881

Saskatoon

$294,516

$279,477

$301,527

Regina

$252,053

$263,424

$235,458

Toronto

$446,593

$395,609

$398,148

Hamilton-Burlington

$315,647

$297,132

$293,927

Ottawa-Carleton

$334,360

$312,927

$296,580

Quebec City

$238,594

$211,501

n/a

Montreal

$300,807

$271,386

n/a

Fredericton

$177,822

$176,615

$168,893

Saint John

$173,872

$188,500

$168,158

Halifax-Dartmouth

$264,539

$248,209

$234,692

Winnipeg

$237,697

$208,806

n/a

Source: CREA - Most Recent Month Reported

Weekend Projects

Garry Parkes & Associates — Wed, 17 Feb 2010 14:21:07 -0800

Weekend Projects that add value to the home

Many value-enhancing home improvements can be accomplished in a weekend with minimal cost and effort. So if your weekend is free and you have the energy to put towards a series of small jobs, why not work on projects that will add value to your house? We’ve compiled suggested projects that add value to your home without breaking the bank.

Clean Up and Repair– The most useful chores to tackle first are basic maintenance and repairs. Clean windows and siding, stow away yard tools and equipment, and clear away dead branches and leaves. Also, make sure that fences, walkways, and the driveway are in good condition – a home that looks well taken care of is always more attractive to buyers.

Curb Appeal – Consider adding small flourishes that make a big impact. The front door is an important security feature and should also reflect the style of the home – and it doesn’t have to cost a lot. Other simple details such as shutters or a planter box can add distinction. Lend individually to a property by installing an interesting mailbox or door hardware.

The De-Clutter Weekend – Once you have identified your clutter hotspots, it’s time to pull everything out of that area and sort through what you really do and do not need. Once you’ve made a pile of things to be cleared, the final step is to make sure it gets out of your house! A yard sale is a good way to recycle usable items and bring in some extra cash! If putting together a sale is too much work for you, help others in need by donating your items to charity.

The Two Day Patch and Paint – Painting is one of the most noticeable ways to freshen up your home, and a fresh coat of paint on the interior can pay big dividends. Try tackling one room at a time and, experiment with colour to update a bathroom or bedroom.

Landscaping – Your yard, especially in front, should look neat and well maintained. Trim any overgrown shrubs, remove weeds, and tidy up planting areas. If the season is right, add some colourful flowering plants to brighten up areas around walkways and the front entrance. It’s an easy and inexpensive way to create an instant welcoming feeling.
Article supplied by Pillar to Post - June 2010

Tricks to make your home look bigger

Garry Parkes & Associates — Wed, 17 Feb 2010 14:20:12 -0800

Setting the Stage:

Tricks to make your home look huge!

Have you ever watched a home staging show on TV and wished your home could appear clean and decluttered, too? Here are some suggestions to help you get started:

Lightening up your furniture.   Going neutral isn’t just good for walls – its good for sofas, too. Beiges and ivories reflect light instead of absorbing it as darker colours do. The result: a sense of airiness and peace that makes people want to stay.

Enlarging a cramped bedroom. How? A small lamp and a large mirror can do it. Just hang the mirror on one wall and plug in the lamp directly across from it. The light will bounce off the mirror and reflect back, immediately make the room appear larger.

Expanding shelf space.   Store half of all personal items and prized possessions in the basement or garage. Too many knick-knacks can make a room look crowded; plus they make it harder for a buyer to imagine what his or hers items will look like in the space!

Article supplied by Pillar to Post – Postnotes Vol. 9 #6

Battle against nasty odours in your home

Garry Parkes & Associates — Wed, 17 Feb 2010 14:19:23 -0800

How to win the battle against nasty odours

Antique wood furniture, drawers, cupboards and coffee table: Newly stained wood with a lingering odour can be remedied by rubbing the surface with a deodorant stick. Polish with a soft cloth. Freshen up furniture by soaking a slice of white bread in vinegar. Put the bread into a dish and place inside the furniture. Kitty litter, charcoal and coffee grounds are also effective!

Microwave: Food burnt in the microwave i.e. popcorn has an odour that lingers. Combine lemon slices, vinegar or baking soda in water and heat in the microwave until the liquid boils over. Wipe the surface.   Tip: Store a box or bowl of baking soda in the microwave when not in use.

Planes, trains and automobiles: Spray with “Outstanding Homemade Air Freshner” (see below). Sprinkle baking soda in car ashtrays; tuck fabric softener sheets under seats and pads of newspaper beneath car mats.

Refrigerators: Clean fridges with baking soda or vinegar and water. Set out charcoal or a raw potato cut in half to absorb odours. Coffee grounds placed in a bowl or sprinkled along the bottom of the fridge is effective; this also works for musty areas such as old boxes.

Extreme fridge and sports bag nightmare; Remove all contents and stuff, stuff, STUFF the unit with crumpled up newspaper. Leave for a week before removing paper. Tip: Also works in large plastic containers.

Books:   After storing books for a long period they tend to have a musty odour. Freeze books for 24 hours, take them out and position them standing up and fanned open. Also, slide a fabric softener sheet or old newspaper between a few pages.

Cutting boards:   Sprinkle lemon juice or vinegar on cutting boards and scrub with an abrasive cloth. Rinse.

Pet odours on carpet: Spray area with one-part vinegar to 2 parts water. Put cotton balls soaked with your favourite fragrance into the vacuum cleaner bag.

Fabric/mattress: Combat textile smells by combining one-part vodka with one-part water. Or sprinkle a generous amount of borax or baking soda on mattresses to kill odour. Also, place three or four dryer sheets under bed sheets.

Sink: Into the drain pour half-cup baking soda, chase this with half-cup vinegar. Fill the sink with water and leave overnight. Release water and pour in boiling water. Tip: Give your garbage disposal a left by grinding up lemon rinds or orange peels every few days.

Plastic storage containers: In the container, mix vanilla and water and leave for 12 hours (also works inside fridge). Tip: To remove tomato related stains in plastic containers, leave in the sun for a couple of hours.

Fingers: Strong smells such as automotive degreaser, WD-40, turpentine, bleach or nail polish remover can be tamed by rubbing a deodorant stick or toothpaste onto fingers.

Recipe for Outstanding Homemade Air Freshner:   This inexpensive, easy-to-make mixture will give you the same yummy smell as commercial sprays. In a spray bottle combine 2 cups of your favourite liquid fabric softener with four cups water. The amount of fabric softener may be greatly reduced depending on your desire for fragrance strength.

Smelly-Jelly: Heat one cup concentrated potpourri liquid until almost boiling. Remove from heat.   Mix together 4 envelopes Knox gelatine and 1 tablespoon salt or vodka (to prevent moulding). Combine with potpourri liquid. Add food colouring and pour into clean glass jars. Position jars in bathrooms, kitchens, cars, etc. Tip: Scented candles are also a delightful touch.

Cooking odours: Fill a pot of water half-full and set on stove. Add cloves, cinnamon sticks and orange peels. Simmer for 30-minutes after cooking to mask food odours. Tip: Great for kitchens lacking a window or fan.

Article supplied by Winnipeg Free Press