Sunday, July 28, 2013

Budget Home Improvements

Finances may be tight, but don't let your biggest investment take a hit.  The U.S. Census Bureau estimates that improvements and maintenance normally cost about $3,300 a year for the average house.  Prevent small problems from becoming big headaches by keeping up with regular maintenance.  Call me for suggestions on low-cost, high-return improvement ideas.

I recommend reading the following article from Realtor.com.

Home Repairs to Do Before You Refinance

 
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Property values have come roaring back. Many can now refinance their loans by virtue of having additional home equity. And increased property values can also put homeowners in a better financial position to sell their home without entering short sale territory. But the fact remains: Everyone wants to attain maximum value for their real estate and home repairs can help.

So what’s the best barometer of a home’s true worth? Simple: the amount a ready, willing and able buyer is willing to pay at any given point in time. Unfortunately, appraisal estimates can be skewed, especially when not all the home repairs and improvements are taken into consideration. This is why you should weigh all home improvement decisions carefully before you commit.

When You’re Refinancing
Unlike in years past, the weight of an appraisal to determine the home value for the purposes of refinancing a mortgage is based upon the facts (which are primarily based on other homes that have sold) and what the property description is.
Improvements that may help a refinance valuation:
  • Additional bedroom or bathroom
  • Addition to the lot size
  • Addition to the garage
  • Improvement that expands the “use” of the home
When it comes to improvements such as landscaping, painting, any home improvement more “cosmetic” in nature, realize that the primary benefit is for the enjoyment of the property, not for trying to influence value.

When Selling
A home buyer is going to take into consideration all of the facts associated with the property, location, lot size, square footage, bedrooms and bathrooms, as well as additional cosmetic improvements that have been done that add to the look and feel of the home.
Improvements that may help a sale price:
  • New paint job
  • Freshly maintained landscaping
  • Remodeled and/or upgraded interior
  • Deck and/or patio addition
  • Additional bedroom or bathroom
  • Addition to the lot size
  • Addition to the garage

Read more here...http://www.realtor.com/advice/home-repairs-to-do-before-you-refinance/

Saturday, July 13, 2013

Fixtures

The question of whether or not a 'fixture' stays is a common question of buyers and sellers.  A fixture is any item of value that is permanently attached to the real estate.  This includes things such as light fixtures, wall-to-wall carpeting, landscaping and so on.  Kitchen appliances are not always included.  Be safe by ensuring that any item in question is clearly described in the contract.  Call with any questions!

I recommend reading the following article on Realtor.com.

What Goes With You When You Sell Your Home?














When you are getting ready to sell one of the things you will need to consider is what stays in the home and what goes. There are certain things that are generally considered to be part of the home and others which are often negotiable. Before you put the home up for sale you will want to figure out what things you absolutely want to take with you and what might be up for discussion. If you know where you will be moving to next then you are already one step ahead of the game because you know what is in your new place. If not, or if you are moving far away, it can be trickier to decide what is worth moving or putting in storage and what is worth offering to the buyers of your home.

Read more here:  http://www.realtor.com/advice/what-goes-with-you-when-you-sell-your-home/