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Condition is very good for 60 years old but we plan to have it refinished and possibly re-nailed to silence the squeaky areas. From what we can tell the sub-floor is also in good condition albeit squeaky in spots. It's 3/4 pine planks laid 90 degrees to the joists and the hardwood is 90 degrees to the subfloor.
You may want to re-nail the existing, but not to eliminate squeaks. In my experience with these floors, they do not seat as well when the subfloor is at 90 degrees to the hardwood.
You can test this easily after the first sanding—if you press the flooring between the nail rows with your index finger, you’ll see ‘give’ between the strips, in many different places. With the old finish in place, you wouldn’t notice this, but when the finish is gone, the looseness of the floor shows up.
You can also test it after putty has been troweled on the floor to fill up cracks. If we roll our sander over an area, just the weight of the sander will cause the filler to break out of the cracks behind it, when the floor is not properly fastened.
Some customers have us re-nail when these signs show up. I generally put the new nails between the existing rows, and I only put one new nail per strip, not two. This is enough nailing to correct the problem.
If we don’t re-nail, the floor generally stabilizes some when the new finish goes on. However, the troweled putty does not stay in the cracks, and we end up having to putty the cracks between coats of finish, which is a lot more time-consuming.
Most of the squeaks in your floor are coming from gaps between the subfloor and the joists, not the hardwood. If you have access to the joists, you can see this movement if someone jumps up and down on the floor.
Drive shims between the moving parts. It’s time-consuming, but you can do that yourself. If there is no access to the joists from below, then you’ll need to pull up strips of hardwood, and screw wood screws into the joists. Then you put the hardwood back down. These strips are not attached to each other, so it’s easy to remove them.