If you have carpenter bees, hang that nest up under the eaves of your house. Believe it or not carpenter bees are scared of paper wasps, and seeing that nest will run off the carpenter bees.
I have a fake wasp nest. It is a paper bag stuffed with paper and about the size and shape of a paper wasp nest. I just hung it up 3 days ago, now that it is carpenter bee season, and believe it or not it runs off 90 percent of the carpenter bees.