Thinking of Selling, Top 10 Home Improvements that Pay You Back!

If you're planning to sell your house any time soon, home improvements that build property value should be on your to-do list.  With the market picking up, more and more people are starting to get their homes on the market and the demand for new homes is still out there!   With so much competition out there it is always a good idea to stage your home well and have it in "move-in ready" condition.  It will be make it more appealing to those looking at your home and comparing it to the other homes on the market.

Planning home improvements that pay you back at the time of sale requires a strategic vision as well as design, finish and product selections that welcome the widest possible range of buyer tastes. Drawing on tips from real estate pros, along with Remodeling magazine's annual Cost vs. Value Report, here are 10 home improvements that pay you back when you sell.
  

Front entry doors: Curb appeal is the first step in a successful home sale, and installing a beautiful, high-quality entry door is a simple home improvement that delivers impact both in buyer drive-by's and online listings. A new entry door will also help lower home energy costs and stand up to weather extremes. 


Siding: A tight, tidy home contributes to curb appeal and takes major home improvement worries off a potential buyer's list. Spruce up your home's exterior by repairing or replacing siding for an eye-catching, protective finish.


Attic bedroom: Converting an attic into useful living space is a smart way to add value and attract those shopping for multi-generational family homes. "Parents are moving in with their kids and vice versa.


Decks: Building a deck is one of the least-expensive ways to extend your living space. Composite decking is a great low-maintenance option, and even building a deck from pressure-treated wood can bring a return on investment of up to 80 percent at the time of sale.


Kitchen: The kitchen is a major selling point for a home, and its appearance and layout can often be a deal-breaker. Improving your kitchen doesn't have to be a huge investment, however: just replacing counter tops, key appliances or cabinet hardware can transform a kitchen's look and impact.


Windows: Installing replacement windows is a pre-sale home improvement that pays for everyone, with the seller earning valuable energy tax credits and the buyer enjoying lower home energy bills. Especially in older homes, buyers always seem to appreciate when new, better windows have been put in. People like the energy efficiency aspect now more than ever.

Basement: Make the most of this bonus space by finishing it for use as an apartment, office or entertainment zone ─ more great ways to appeal to multi-generational households.

Bathroom: Along with kitchens, bathrooms tend to age easily, so neutralize potential design objections by replacing the vanity, installing efficient fixtures and choosing hardware that facilitates easy access for all. 

Backup power generator: With the aging electrical grid becoming less reliable, access to backup power is essential for a home. Gone are the days of bulky, smelly, portable gas-powered generators: You can now have a neat, compact standby generator installed right next to your outdoor AC unit that can repower most of your home within seconds of losing electricity from the utility.

Additions: If done wisely and in a way that won't price your home out of the local market, additions are valuable home improvements. Add a second story, expand into a master suite, enlarge the garage or create an extra bathroom for a busy household.

A final thought, of course your home is your castle, and you want to be pleased with the way your home looks while you're in it, but you don't want to put in things that are extremely personal. For instance, choose colors that are neutral, it doesn't mean that everything has to be beige and bland, but you don't want to pick colors that the average person isn't going to like.

And remember when someone is out looking for their new home and thinking about the cost of investing in a new home, the last thing they want to add to that list is a "to-do list."

House Prices Projected to Increase In The Next Year!!

  

Experts have projected that U.S. home prices will 
appreciate by 5.4% in 2013.
If we assume that prices will rise about the same 5% over the next twelve months, here is the difference a buyer will pay if they wait a year.

_____________________________

 

 

 The Mortgage Bankers Association,
Fannie Mae and the  National Association of Realtors have all projected that the 30-year mortgage rate will be at least 
4% by the end of 2013.  If we assume that rates will still be at 4% in twelve months, 

here is the difference a buyer will 

pay if they wait.

_______________________________________________________

 

If we assume that prices go up by approximately 5% in 2013 and interest rates will rise at least 4% by the end of 2013 as projected, here is the monthly difference a buyer may pay if they wait a year.

_______________________________________________________________________________

We know that the market today is great for both buyers and sellers!  However, What tomorrow brings no one really knows?  Experts can project but we still don't really know?

Take advantage of today's market and you could possibly come out ahead!

What Questions Should You Be Asking a Realtor before Entering into a Business Relationship?

Picking the right real estate agent to list your home could make the difference between selling quickly at a good profit and settling for a low-ball offer. Here are some questions you should ask to ensure you get the right person working for you.


What are your professional qualifications for listing my home?
Look for someone who works as a full-time REALTOR® and a licensed real estate agent. REALTORS® are real estate professionals who belong to the National Association of Realtors. They subscribe to a strict code of ethics and are committed to ongoing education in the real estate industry. If your home has special features, look for an agent with experience in selling homes that are similar to yours.


What’s your track record for selling homes like mine?

• How many homes have you listed over the past six months? A good REALTOR® typically lists one or two homes a month.
• How many of the homes you’ve listed over the past six months have sold? It’s a good sign if a REALTOR® sells all or most of the homes he or she lists.
• What’s the average length of time the homes you’ve listed have been on the market? It’s reasonable to take 90 to 120 days to sell a home. Much longer than that, and the home was probably overpriced.
• What’s the average difference between the asking and the selling price of the homes you list? They should be close.
• How much of your business is repeat or referral business? Successful agents have satisfied past customers and are therefore more likely to satisfy you. 

Is this the area of the city or region where you normally work?
Look for an agent who knows your area well. He or she will have a good idea of the best price you can get for your home and should have a network of other agents who are searching for homes in your region.

Do you have suggestions on ways to increase my home’s value?
A good listing agent should be able to tell you how to “stage” your home so it’s more appealing to potential buyers. Repainting in neutral tones, placing fresh flowers in the living room and home-baked cookies on the kitchen counter can speed up the sale of your home and put thousands of extra dollars in your pocket.

How often will you keep in touch with me?
Your REALTOR® should keep you regularly informed about potential buyers or real estate agents who have visited your home or expressed an interest in it, feedback from people who have viewed your home and all marketing activities. It’s not unreasonable to expect a daily telephone call, fax or e-mail with an update. Some offices have software that automatically notifies you, via e-mail or fax, every time someone tours your home.

Will I be working with you alone, or a member of your team?
An agent with many listings may hire employees to handle some aspects of the business, such as administrative work. There’s nothing wrong with a team effort to help you sell your home. But make sure that your agent is the one who will show your home, negotiate the sale and handle every other detail of the transaction. If your agent is taking a vacation in the near future, make sure you meet and are happy with the agent who will be filling in while he or she is away.

How will you price my home?
You don’t want to screen out potential buyers with an inflated price, or sell your home for less that market value. Your agent should be able to recommend a listing price based on a recent market analysis of your area that includes the recent selling price of homes similar in size, condition and amenities to yours.

How will you market my home?
An agent should list your home with the local and national Multiple Listing Service (MLS), share details of the listing with other REALTORS®, and market it on the Web. In addition, he or she should arrange an open house for real estate agents, regular open houses on weekends for the public, plus individual open houses for prospective buyers by appointment. This includes creating a detailed property fact sheet that can be passed out containing specific information on your home’s features and any home improvements you have made.

What will be included in the listing agreement?
Most contracts specify that you can work with only one listing agent. They also spell out the beginning and ending dates, which should be negotiable. It’s reasonable to allow an agent three to six months to sell your home. Agents cannot, however, provide a written guarantee that they will sell your house within that period of time. The length of time it takes to sell a home depends on many factors (such as market forces) that are out of your agent’s control.
It’s in your best interest to also specify in the listing agreement that your agent can accept offers only from buyers who have been pre-approved for a loan.

How are you paid?
Most agents are paid entirely by commission -- usually four to six percent of the selling price. And in most areas of the country, the person who is selling the house pays that commission from the proceeds of the sale. Find out whether there are any other fees, such as administrative costs.

Can you provide me with references?
A good REALTOR® should be able to provide you with references from satisfied clients who have sold homes in a similar price range in the area where you live.

Why Should You Work With A Realtor?

You and your family need a skilled negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible re-negotiation of that off after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.
Here is a list of some of the people with whom your agent will potentially negotiate on your behalf:

• The buyer
• The buyer’s agent
• The buyer’s attorney
• The home inspection company
• The termite company
• The buyer’s lender
• The appraiser
• The title company
• The town or municipality
• The buyer’s buyer
• Your bank (in the case of a short sale)

How do you know if an agent negotiates well?

Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family? If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer in your deal.

Bottom Line

You need a great negotiator. We believe that famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.

Just Like you would do with anyone else you are hiring for a job, you should always interview your real estate agent!  What questions should you ask him or her?  Stay tuned and find out....... 

Selling Your Home, How should you stage it to make more desireable?

Housing prices are on the rise and the good news gets even better if you are ready to sell learn how to stage your home so that  it attracts the most buyer interest!

Staging is worth the money, but if you are short on cash that doesn’t mean you can’t give your listing a model home look to boost your selling price. 

• Rent a portable storage unit. Clear the clutter and move what you want to keep into a portable storage unit. It’s a lot easier to park a portable storage unit in the driveway than the two-step approach of loading a truck and unloading it at a storage facility. You need to clear the clutter to turn your home into an appealing and spacious canvas for the buyer’s imagination.

• Work room by room. Start at the front door. Make it open and welcoming with simple accessories, say, an open console to contain the shoes, umbrellas and backpacks. Consider a large mirror over the console and a pair of candlestick lamps adds brightness and reflectivity.
  
   
• Liven up the living room. Look for a good anchoring “focal point” – a terrific view of a garden, lake, ocean, or fireplace wall to “celebrate.” Rotate furniture to orient toward the focal point. 
  
   
• Kitchens sell houses. Get rid of those silk plants, roosters, cat clocks and clown platters. Put away the toaster, the mixer, the canisters, the spoons in the jar. Make room in the cabinets for these items by storing the extra utensils, glasses, plates, cups in the storage container. Purchase a really big bowl for a single display of seasonal fruit such as apples, oranges, or pineapples for the counter top or kitchen island. The more you put away, the better the kitchen will look. Counter space sells kitchens. A few simple clusters of cookbooks, oils and vinegars on a tray and a chic spice rack is all you need to hide the electrical outlets.
  
• Spruce up the bedroom. Lose the patterned bedding in the bedroom. Instead use a fresh white duvet or cotton blanket. Simplicity sells. Busy patterns distract. Repaint bold bedroom colors with light grey and putty neutrals. Light and airy also sells. Remove heavy curtains and nightstand clutter, add matching lamps and add a few art books. If you don’t have drawers, buy a simple lidded box to contain the remote control, Kleenex package, and tattered paperback.
  
• Re-master the master bath. Replace Old World gold and amber light fixtures with more contemporary clear or frosted white glass. Use a tray to anchor odds and ends that collect on elongated counters. Use artful boxes or containers to conceal frequently used items such as contact lens solution, hand lotion, and hairspray. Small glass jars for swabs, cotton balls, and small soaps make for an attractive and practical display. Replace pink, grey, black, toilets with a white one. Hire a tub re-glazing specialist if your tub’s color is dated.
  
• Use photo stylists’ secret weapon. Bring on the live plants. Orchids, succulents, and air plants make a huge difference on a coffee table, dining table, or nightstand. It is also inexpensive and incredibly chic to cut branches or large tropical leaves and place them in large vases on a fireplace mantel, kitchen island or dining room buffet. Only use silk flowers that appear so authentic even touching them leaves doubt.
  
• Have second thoughts about selling. Your for-sale home do-over should be so compelling you want to stay. 

*Article Courtesy of: RealtyTimes by Broderick Perkins

How the Housing market is directly affecting the rest of the economic market.

Lawrence Yun, chief economist for the National Association of Realtors, says the housing recovery is now responsible for about one-third of the economy's growth and lots of jobs.

"Over the past year, I would say it's probably added about 300,000 jobs from the housing sector improvement," Yun says.

"New Jobs Being Added"

Some of those jobs were added at Synergy Design and Construction in Reston, Va.

Mina Fies, the company's chief executive officer, says 2012 "was just an amazing year for us: We grew about 40 percent in revenues.   We added three people, more toward the end of 2012.   And already we're tracking for 2013 to grow another 30 percent, and we're looking to hire at least another three employees."

 With construction workers going back to work, they need something to get themselves back and forth to work.  This need has directly affected the truck industry!


Pickup sales boomed in the U.S. in April. Sales were up by double-digits at 
Chrysler, General Motors and Ford.
So the housing recovery is supporting job creation in the factories of Detroit's automakers, too.   Those new pickup trucks would also come in handy in another part of the economy getting a boost from housing.   

Which rolls into new home owners wanting to spruce up their newly purchased homes!!  Jesse Eastman owns the Fort Collins Nursery in Fort Collins, Colo.

"We've seen a lot of new home construction around here in the least two years," he says. "So we've seen a whole lot of young couples, first-time homebuyers, young families coming in and doing all their shopping to install their own landscapes."
Eastman says the resurrection of housing helped boost his payroll and turn a couple of his company's former part-time jobs into permanent ones.

So auto dealerships, nurseries, furniture stores and many more businesses get positive knock-on effects from the healthier housing market.

Consumers  are Feeling More Comfortable

Economist Lawrence Yun says there's another, even broader benefit from the rise in home prices, which are up on average more than 9 percent in the past 12 months. 
Consumers are feeling wealthier and more confident.

"You have more families feeling more comfortable, given the rise in housing wealth, that's just general spending into the economy," Yun says. "It's also helping to lift the employment in the retail sector and other segments of the economy."

O'Sullivan sees that wealth effect just kicking in. He says housing could contribute a lot to growth and employment for the next couple of years!