Showing posts with label Seller. Show all posts
Showing posts with label Seller. Show all posts

Friday, May 1, 2020

5 Tips to fill SPDS When Selling Your Home in Phoenix East Valley

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5 Tips to fill Seller Property Disclosure Statement (SPDS) when selling your home in Phoenix East Valley

Arizona law requires home seller to disclose material (important) facts about the property when selling their home. Seller Property Disclosure Statement (SPDS) is designed to assist seller in making legally required disclosures and to avoid inadvertent non-disclosures of materials facts when selling their home. To satisfy seller's disclosure obligations and protect seller against alleged nondisclosure, seller should complete the SPDS by answering all questions as truthfully and as thoroughly as possible. Here are 5 tips to seller to complete SPDS when selling home in Phoenix East Valley.

Tips to fill Seller Property Disclosure Statement (SPDS) when selling home in Phoenix East Valley

Tip #1: Take your time
As a Realtor, I highly advised my seller to complete the SPDS prior activating the listing on the market. The reason is we don't want our seller to rush to fill the SPDS. According on AAR (Arizona Association of Realtors) Purchase Contract, the seller is required to deliver the SPDS to the buyer within five days of contract acceptance. If complete this document is completed prior to listing your home, you can take your time and do it right and provide any supporting documents if necessary. We often encourage sellers to complete this while we are working on preparing the marketing materials for their home.

Tip #2: Do not be afraid
Don't be afraid to fill out the SPDS. It is a great document to protect seller and helps the transaction go smoother. Based on my experience, it is VERY uncommon for a buyer to cancel the contract based on the SPDS. If they are going to cancel based on something you disclosed, like a leak that was fixed or a termite that was treated, they were probably going to cancel over the inspection anyways.

Tip #3: Do not guess
If you don’t know the answer to one of the questions in the SPDS, research it. If you still can’t find the answer, leave it blank – DO NOT GUESS! This may apply to things done by a previous owner, like upgrades or repairs. Give as much information as you can and then move on. It is OK to leave it blank for the question you don't know.

Tip #4: Tell the truth
Do NOT lie on your Seller Property Disclosure Statement. This is important. Most common area where some sellers hesitate to tell the truth is the pest section. Scorpions and termites are a fact of life here in Arizona and they are NOT a deal breaker if they have been treated properly.

Tip #5: Fill it out yourself
This one is SO important. Only home seller can complete the SPDS and seriously, you need to fill the SPDS out yourself. Your REALTOR® cannot fill this out for you. It is your legal obligation to fill this out to the best of your abilities and knowledge. It is your signature and your reputation on the line, so take it seriously.

Selling your home in Phoenix East Valley
Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Phoenix East Valley House Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.

What My Home in Phoenix East Valley is Worth Today?

Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients' best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact us today for complimentary consultation.

Contact Swee Ng, Phoenix Real Estate Agent, Realtor in Phoenix AZ

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Tuesday, August 20, 2019

8 DYI Home Staging Tips

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8 Home Staging that You Can DYI

Feature your home’s power, whitewash its flaws and appeal to the greatest possible pool of potential buyers with these amazing home-staging tips.

8 Secrets of Home Staging

Remove Clutter
Getting rid of clutter is the most important thing you can do to prepare your home for sale. Make a rule for the house that every new thing that comes in, an old thing has to be put out. Mostly the house looks cluttered because of the furniture, therefore, it is advisable to get rid of the furniture so that the house looks big enough when customers come to see it. Take a look at what you have and what you can live without.

Furniture Layout
There’s this belief that if all the furniture is pushed to the walls the room has a larger space, but that’s not the case so. Instead, place your furniture away from walls and position the sofas and chairs in a way so that conversations can be done in a better way. This way not only make the space more friendly, but it will make the room to look larger.

Transform your room
If you have a room that has all the junk, replace it with something that will add worth to your home. Just a simple addition of an armchair, a lamp and a table in a proper position will transform it into a comfortable reading spot. Drape fabric on the walls lay carpet on the floor and toss in a few cushy pillows.

Lighting your home
Staged homes look warm and welcoming when highlighted with great lighting. Most of our homes are not properly lighted which is why they do not turn out to be that beautiful in terms of lighting. To solve this problem increase in your fixtures and lamps.

Make It Bigger and Larger
To make a room look larger than it is paint it the same color as the adjacent room. If you have a dining room and a kitchen a smooth look will make both rooms look bigger. Another trick is if you want to make the illusion of a bigger space, paint the walls the same color as your drapery.

Color Experiment
Don’t ever be afraid to use dark paint in your bedroom or your dining room. A deep tone on the walls can make the room look cozier, dramatic and intimate. And it is not necessary that you have to paint it whole rather paint a wall to draw attention to a fireplace or a lovely set of windows.

Modify wall hangings
Most of our homes have the art hung in a high line encircling each room. Big mistake. Placing or positioning your pictures, paintings and prints in common places can render them almost invisible. Display your art creatively so that it stands out and shows off. So break up that line and modify your wall hangings.

Prim and Polished
Have your tiles professionally painted so that it looks brand new. Buyers will feel they are in a spa when they see it. It's a great way to create a polished look, and it doesn't either. So go on and give your bathroom the perfect look.

Selling your home in Phoenix East Valley
Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Phoenix House Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.

What My Phoenix East Valley Home is Worth Today?

Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients' best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact us today for complimentary consultation.

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Tuesday, February 12, 2019

8 Reasons a Home Do Not Sell

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8 Reasons a Home Do Not Sell

If your home is on the market for a while and isn’t getting offers, something could be wrong. The good news? Knowing there’s a problem is the first step toward resolving it. There are many factors that influence whether a house sells or not. Here are just a few of the reasons why homes don’t sell:

8 Reasons a Home Do Not Sell



Phoenix AZ Housing Market Trends Report
View Phoenix AZ Housing Market Report. The data used this Phoenix AZ Market Report is consolidated from multiple sources and includes current listings, recent sales, and more. Whether you are a buyer or seller, the knowledge you gain will help put you in control of your real estate transactions.

Selling your home in Phoenix AZ
Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Phoenix House Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.

What My Phoenix Home is Worth Today?

New Listing in Last 24 hour Phoenix AZ


Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients' best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact us today for complimentary consultation.

Contact Swee Ng, Phoenix Real Estate Agent, Realtor in Phoenix AZ

Search homes for sale in your neighborhood
Receive email alert as soon as a Phoenix property matching your criteria hits the market. Be one of the first to see new listings. Simply type in everything you want in a house and save your search here to be notified.

Search your dream home now

Tuesday, March 3, 2015

Weekend DIY Projects to Improve Your Phoenix AZ Home Value

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Weekend DIY Projects to Improve Your Gilbert AZ Home Value

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The best home improvements are those that have a high return on the investment. Remodeling Magazine publishes an annual Cost vs. Value Report, analyzing the ROI of 35 separate remodeling projects. You can even look at the return based on your region.

The report is based on the assumption that you're using professional labor to perform the remodel. You'll get an even higher return on your dollar, when it's time to sell your home, if you do the job yourself.

Weekend DIY Projects to Improve Your Gilbert AZ Home Value

We've compiled our own list of DIY projects that buyers like, you'll enjoy in the meantime, and you can accomplish in a weekend. To keep it simple, we focused on two areas of the home that are key when it comes time to sell: the entryway and kitchen.

Upgrade Your Entry
As potential buyers walk up to your home, they can't help but notice the door. Upgrading to a new entry door is the perfect weekend DIY project. Even better, it's one of the projects listed on the Cost vs. Value Report, year after year, as a remodel that returns most of the investment upon the sale of a home.

According to the 2014 Cost vs. Value Report, a replacement steel door recoups 96.6 percent of the investment, while a new fiberglass door will offer an ROI of 70.8 percent.

However, the report factors in labor to determine how much of the cost is recouped. When you install the door yourself, your return can only be higher.

Even if you've never done anything similar, hanging a door isn't beyond your capabilities. Expect to spend less than a day on this project.

Touch Up the Kitchen
Everyone seems to gravitate to the kitchen, and many buyers consider it the most important room in a home.

For the first time in a decade, a minor kitchen remodel increases home value by almost as much as the money spent to accomplish it, according to the "Minor Kitchen Remodel" analysis included in the Cost vs. Value Report. Keeping in mind that the figures include labor costs, the report claims an average ROI of 82.7 percent on the project.

Any single item on our list will make a noticeable difference in the feel and value of your kitchen.

Refinish your cabinetry. Modern veneer kits make resurfacing cabinet boxes fairly easy. Take off the doors and remove the drawers first. After installing the veneer, put new drawers in place. Add new knobs and pulls as well. The result: new-looking cabinets at a fraction of the cost.

Replace the countertops. Depending on the new counter surface selected, replacing a countertop is fairly simple and not likely to take more than a day or two.

Install new sink hardware. A mid-priced sink and new faucet freshen up the look of an older kitchen. Don't be afraid to try a different style or material.

Go shopping. New appliances can only increase your home value. Focus on ovens and cooktops that offer greater energy efficiency.

Focus on the flooring. As much traffic as the kitchen witnesses, the floor gets worn out easily. Consider installing new flooring to raise the value of your home.

When contemplating remodel projects, keep in mind that it's possible to over-improve a home, depending on the neighborhood and real estate market. Compare your home's features to those of nearby homes to get a better idea of what will prove valuable – or not – in your area.

View more Home Owner tips at www.SweeEastValleyHomes.com

Swee Ng, Realtor with Keller Williams Realty in Phoenix specializing in win-win real estate transaction through great communication and fighting for his clients' best interest. After all, this is more than real estates, this is about your life and your dreams.

If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us.


Monday, September 22, 2014

3 Must-Knows Before You List Your Home for Sale

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Selling Your Home in Phoenix AZ: 3 Must-Knows Before You List

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Sometimes the hardest part of selling a home is making the decision to sell your home in Phoenix AZ. Our homes give us roots, provide sanctuary, house memories and, hopefully, give us some financial security. It's a huge decision to sell a home.

Once made, however, additional decisions will come fast and furious, so take some time now, before the frenzy, to understand three salient points about the successful sale of a home in today's real estate marketplace.

Selling Your Home in Phoenix AZ

What is Market Value?
One of the most challenging aspects of selling a home in Phoenix is determining the list price. Many homeowners will go online to find homes nearby that are for sale and base their price assumption on those that are most similar.

The list price of a home, however, is a fantasy. It represents an amount of money the seller thinks, or hopes the home will bring. Until the home sells, he may be right or he may be wrong.

Buyers set market value for homes. What a knowledgeable, willing, and unpressured buyer pays for a home is the home's true market value. Therefore, when pricing a home for the market, one must always look at the sold prices of similar homes nearby.

This is the method both real estate agents and appraisers use when determining a home's market value.

First Impressions Matter
Think back to when you were house hunting. Were there houses that you arrived at that you just couldn't bear to get out of the car to look at? Chipped or peeling paint, sagging window and door screens, and overgrown or dead landscaping do not make a good first impression.

Before you do anything else, clean your house, inside and out. Make cosmetic repairs, especially outdoors where the house makes its first impression. Even if it's merely a new coat of paint on the front door, shiny new house numbers and some fresh mulch in the planting beds, it may help folks want to see more.

Don't neglect the interior either. If you don't know where to start, take a look at some websites with ideas on how to declutter and stage the home.

Don't Attempt This on Your Own
I know what you're thinking: Of course a real estate agent is going to tell me not to take the for-sale-by-owner route. So, I won't ask you to take just my word for it. Let's look at the cold, hard numbers.

First, only 9 percent of homeowners attempt to sell their homes without the aid of an agent, according to the National Association of Realtors® (NAR). Of those, almost half said they took this route because they were selling their home to someone they knew.

The next most commonly stated reason that a homeowner gave for not using an agent was that he or she didn't want to pay the real estate commission. That's understandable when one isn't sure exactly what an agent does to get a home sold. Once you get a look at that list, you'll understand that you definitely get what you pay for.

You should also take into consideration the fact that a home that is for sale by the owner is considered a bargain to most homebuyers. Many will walk in expecting you to kick back some of that money you're saving by not using an agent. This is why, according to NAR, homes sold by agents sell for 16 percent more than those sold by owner.

Selling a home is a big deal and, thankfully, something we don't often do. When it's time to sell yours, start with the basics, as outlined above, and you'll be ready to list your home before you know it.

Selling Your Home in Phoenix AZ?
Contact Us or call Swee Ng, Phoenix real estate agent at 480.721.6253 today to discuss your potential Phoenix AZ Housed Value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your Home is worth at today’s market. You also can go to www.PhoenixAZHouseValue.com to find out what your Phoenix house is worth instantly.

Swee Ng, Realtor with Keller Williams Realty, specialize in Residential Resale, First Time Home Buyer and Investment Homes. Call 480.721.6253 today for complimentary consultation.
Sell: sell.sweephoenixhomes.com
Buy: buy.sweephoenixhomes.com

Monday, September 8, 2014

Can Pets Hurt Phoenix Home Sale?

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Can Pets Hurt Phoenix Home Sale?

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Dogs do the darndest things when they're bored. Take Squishy, for instance. Lauren came home late one night from her job as a nurse to find that Squishy –her usually well-mannered dog – had torn her sofa to shreds, right down to the woody skeleton.

Wading through the chunks of foam and scraps of distressed leather, she noticed something else: Squishy had enough time to not only disassemble the sofa but also to chew up the living room baseboards.

While a ruined sofa won't impact a home's value, gnarled-on baseboards most definitely will.

Can Pets Hurt Gilbert Home Sale?

Americans Love Their Pets
Over 43 million American households own a dog, and over 36 million own at least one cat, according to the American Veterinary Medical Association. It's unclear how many of these households are owner-occupied and how many rented, but since 65.5 percent of Americans own their homes, it's probably safe to say that many pet owners are also homeowners.

The various dog-shaming websites prove that pets behaving badly is sometimes funny – especially if it's someone else's pet acting up. When it's your cat or a neighbor's pooch committing the atrocities, though, you may pay dearly with a lowered resale value on your home.

Impact on Home Value
Time business and money writer Brad Tuttle claims that pets "can potentially do pretty much the same thing to your home's value that some pets do on the rug." He goes on to credit a New England real estate agent for determining that owning a pet may have a negative impact on your home's resale value.

As evidence, the agent cited a cat owner's condo that sold for up to $30,000 less than it should have because of damage caused by the pets.

Then, there's the noise factor. Whining, barking dogs in a neighborhood can bring down resale home values by between 5 to 10 percent, Appraisal Institute's Richard L. Borges tells Business Insider.

There isn't much you can do about a neighbor's dog, but there is plenty you can do about your own.

De-Pet Your Home
Just as you'll need to clean and declutter your home before it goes on the market, you'll also need to de-pet it. This involves getting rid of not only any damage the pet has caused, but also the hair, stains and, most of all, odors.

Start by getting rid of the hair. You'll need a heavy-duty vacuum for the job. Consider having the upholstered furniture dry-cleaned, launder or dry-clean the drapes, and shampoo the carpets.

Carpet: The Stink Magnet
Cat urine in the carpet is one of the hardest odors to get rid of, according to Neeraj Gupta, director of product research and development at ServiceMaster Clean. "Oftentimes," he tells MSN's Marcie Geffner, "you have to remove the carpet, remove the pad and seal the floor, and then replace the carpet and the pad."

If you think you can fix the problem by shampooing the carpet, you may want to pay close attention to those areas your pet chooses to use as a restroom.

First, though, you'll need to find those spots. Christopher Solomon of MSN Real Estate says that not all of the spots will be visible to the naked eye. He suggests that you consider purchasing a battery-powered ultraviolet light – also known as a black light. They are inexpensive and, used in a totally dark room, can pinpoint every bodily fluid that has landed on the carpet.

Other Flooring
If you have a hard-surface floor, you may think you've squeaked by the pet-odor problem. Think again. Even some hard surfaces can absorb urine. You'll need a chemical deodorizer and cleaner to rid the floor of the odor. If it lingers, you may need to strip and repaint, varnish or otherwise seal the floor.

Walls
If you own a dog, you are probably familiar with how they seem to love rubbing against the walls. Walk through your home with your eyes cast on walls and interior doors at doggy height and you'll no doubt notice discolored areas. Sometimes a Magic Eraser will remove the marks. If you've lived in the home for a long time, you may need to repaint to remove the doggy odor.

Cats like walls too – especially male cats, who tend to spray vertical surfaces, such as the backs of chairs and walls, according to the experts at Cornell University, College of Veterinary Medicine. Ask your veterinarian what she recommends to clean and deodorize the walls.

Showings
Your real estate agent will suggest that you not be home during showings. There are a number of reasons for this, but the most significant is that buyers are more relaxed if the homeowner isn't hanging around.

The National Association of Realtors® suggests removing the pet from the home during showings as well. If you'll be home, this is easy, just take the dog for a walk or drive.

If you will be working during showings, you'll need to come up with an alternative for your pet. Here are a few places to take your dog during showings:
  • Doggie Daycare – This one is ideal. The dog gets a day of socializing and playing, and potential buyers get to tour the home in solitude
  • Groomer – An obvious win-win
  • Veterinarian – Use the opportunity to get the dog or cat a checkup and shots
  • Professional Dog Walker – Hire a dog walker to remove the dog from the home during showings.
Life is chaotic and full of unexpected events when your house is on the market. It's important to remain flexible and accommodate last-minute showings if you want to get the home sold. While pets may be members of the family, they are distractions to buyers, so it's important to decide beforehand how you'll deal with them while the home is for sale.

Selling Your Home in Phoenix AZ?
Contact Us or call Swee Ng with Keller Williams Realty, Phoenix Real Estate agent at 480.721.6253 today to discuss your potential home value and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your Home is worth at today's market. You also can view your home value instantly at www.PhoenixAZHousevalue.com

Monday, August 18, 2014

Home Seller Tips - Your Bank Account

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Home Seller Tips - Your Bank Account

Home Selling Tips Your Bank Account
Imagine if you weren't allowed to withdraw money from your bank. Well that's what's happening if your house does not sell. Yes, a house is a great way to build equity, except it only works in your favor if you can unlock it. Your agent holds the key.


What's My House Worth?
Click here to view your house value instantly



photo of Swee Ng
Keller Williams Realty

15905 S 46th St #160
Phoenix , AZ , 85048
480-721-6253

Swee Ng, Realtor with Keller Williams Realty, specialize in Residential Resale, First Time Home Buyer and Investment Homes.
Call 480.721.6253 today for complimentary consultation.

Wednesday, May 21, 2014

Home Seller Tips: 5 Tips For The Best Home Showings

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5 Tips For The Best Home Showings

Home routines tend to come to a standstill while your home is on the market. The need to keep the house clean  - and not scare potential homebuyers away - means that kids can't throw their school books on the dining room table, Dad has to pick up his stinky socks, and even the pets need to toe the line.
Keeping the house clean is a good first step toward presenting the home in the best light. But it isn't the only step.

1. Odors
Have you ever walked into a home and been immediately assaulted by nasty odors? Cigarettes, grease, cooking odors, diapers and pets all leave their mark on the way a home smells. While it's almost impossible to rid the home of cigarette smoke without painting, there are ways to get rid of other odors.
  • Have the carpets professionally cleaned and deodorized
  • Launder or dry-clean all curtains and drapes
  • Consider having your upholstered furniture professionally cleaned
  • Clean the grease from the range hood
  • Keep the dog bathed and groomed to keep doggy smells at bay
  • Place dishes of potpourri or scented candles in random areas throughout the home.
2. Sounds
Like the smell of a favorite perfume, we become habituated to certain things, including sounds. If you've ever lived under a flight path or next to railroad tracks, you understand how quickly one can get used to annoying sounds and not even hear them after a while. Strangers in your home, such as potential buyers, will hear the yappy dog next door, however, so here are some tips to mask the noises in your home.
  • Play some music, softly, while the home is being shown
  • Invest in a white noise machine
  • Play a sound-effects CD softly in the background.
3. Sights
Light and bright are the operative words when considering the ideal way to present your home to buyers.
Change all the light bulbs in the home to higher wattage bulbs. Leave the lights on for showings, including closet lights.
  • Paint the walls. If you can't paint, clean the walls
  • Remove heavy drapes and replace them with lightweight fabric that allows natural light into the home
  • Don't neglect the outside of the house. Before a showing, make sure that the planting beds look clean and attractive and that the lawn is mowed.
4. Set the Scene
If you've ever toured model homes, you are familiar with the concept of staging – the art of carefully crafting interiors that appeal to homebuyers. If you're on a tight budget and can't afford a professional designer, make some simple changes that appeal to buyers.
  • Create vignettes throughout the home. Set the dining room table with attractive dinnerware or create a cozy nook in the bedroom with a small table and chairs. Group items in threes, use different heights, and keep it simple
  • Fresh flowers add so much to a home, from masking odors to adding pops of color and texture. A gorgeous bouquet on the dining room table can take the place of a fussy centerpiece. Night stands are ideal places to set small vases of flowers
  • Bathrooms are important, so pay close attention to how you stage yours. Get rid of the countertop clutter and add fluffy towels and a new shower curtain
5. Security
Since sellers should make themselves scarce when the home is being shown, it's important to take security measures. Lock up or remove valuables, weapons, prescription drugs and money.

Don't leave personal items - especially paperwork with your financial information - lying around in plain sight.

Whatever you can do to make your home appear move-in ready will appeal to buyers. Tour some new home communities for more ideas and inspiration so that your home shows like a model.


Ready to Sell?
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Wednesday, April 30, 2014

A Cheap and Fast Way to Transform Your Kitchen

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A Cheap and Fast Way to Transform Your Kitchen

Your dingy, dinged-up, and outdated kitchen cabinets need to go. Refacing (rather than replacing) them could save you more than just time and money.

You watch all those home renovation shows that inspire you to transform your kitchen into something modern, sleek, and sexy. As it is right now, sexy definitely doesn't describe your marred-up and pitiful cabinets.

And sure, you could get all new cabinets, but that might cost you a lot of money. Another more cost-effective option, however, is to reface them. When you reface cabinets, you're essentially keeping the existing boxes while replacing the doors and drawer fronts. And if your kitchen cabinets are structurally sound, this could be a viable option for you.

In addition to costs, here some reasons why refacing cabinets - instead of replacing them - is smart.


#1 - It's a Cost-Effective Option
"Refacing gives you the biggest bang for your buck because you get to repurpose your existing cabinets which save a lot of money," says Kathe Russell, general manager and co-owner of Cabinet Makeovers & More in El Dorado Hills, CA.

As a result, "Your kitchen really needs to be evaluated by a professional before you sink any money into a kitchen cabinet redo," says Russell. If your cabinet structure is in good shape, salvaging your current cabinets could save you lot of money.

How much money, you ask? Michael Marusak, a licensed contractor and owner of CabinetReface Kitchens & Bath in Overland Park, Kan., says he can reface cabinets in an average-size kitchen (a 10 ft. by 12 ft. room) for $4,000 to $9,000 depending on the style of wood drawer fronts, doors chosen, and how many cabinets are present.

On the other hand, new cabinets and a new countertop could cost five to six times as much, says Marusak.

"It can cost up to $30,000 for new cabinets and a granite countertop," he says. The reason it's so pricey? "You have to have a new countertop once you put in new cabinets because everything needs to be torn out."
So, if you're looking for a cost-effective remodel, cabinet rafacing is the way to go.

#2 - It Takes Less Time than Replacing Cabinets
Another perk that comes with refacing cabinets is the timeframe it could be completed in.

Since refacing only requires contractors to take off the doors and drawer fronts, the demolition process is less time consuming than replacing cabinets entirely.

In fact, when you purchase new cabinets, it's common to also replace the floors, back splashes or countertops to accommodate the new cabinets, Russell says.

"With refacing, it might take anywhere from three to five [weeks] opposed to six to eight weeks or longer if you had new cabinets installed," says Russell. "You can really speed up the process a lot with refacing."

Of course, this is a general time frame, and it will vary depending on how many cabinets you want to reface.

#3 - It's Environmentally Friendly
Have you watched those kitchen makeover shows where a homeowner takes a big whack to a cabinet with a sledge hammer? All that material they demolish has to go somewhere, and that's usually the landfill.

"If you aren't pulling out the whole kitchen, then it's not going to the dump," says Russell.

The majority of the cabinets stay in your own kitchen if you are just refacing. Many times, only the doors are being put in the dump, or the homeowners can try to recycle them. Even if you are just doing a simple bathroom cabinet refacing, most everything stays where it is so you're not only saving money, but the environment as well.

"This is a huge reason for many to reface. When refacing, we hardly have to put anything in the landfill," says Russell.

Many designers and contractors like Russell donate the doors and drawer fronts from a refacing job to a Habitat for Humanity ReStore. ReStores sell these surplus building and renovation materials to people who refinish them or use them as part of their creative furniture.

"Someone else's junk can be just what someone else is looking for," Russell says.

#4 - You'll be able to Use Your Kitchen during the Remodel
Night after night of pizza delivery, Chinese carryout and drive-through hamburgers could be your culinary scenario if you decide to replace your cabinets. You won't be able to use your appliances or counter because everything must be completely cleared away to make room for your dream cabinets.

However, if you choose to reface your cabinets, you'll likely still be able to utilize your kitchen.

"During a refacing job, workers should clean up at the end of the day. That allows you to use your sink, stove and refrigerator even during the process," says Marusak. "When you do a complete remodel, you can't cook or use your sink until it's done, which can sometimes be months."

And while every refacing job is different, for the most part, there isn't a lot of demolition to cause too much disruption.

For example, if you aren't putting in a new countertop, you'll also have space to prepare meals, says Russell. But check with your contractor to figure out how much mess will be made and how long the process will take.

#5 - You Like Your Current Cabinet Layout
The configuration of your kitchen is good. The stove is handy, and the sink is under the big window where you can watch your kids play outside. But the cabinets just aren't pretty anymore.

"If you don't need any layout changes, refacing is perfect for this type of situation," Russell says. "We keep the existing boxes, and everything stays the same. We don't have to move gas or water lines. That makes things go much quicker with no added on expenses."

Even if you want to add an island or make simple changes to the layout, it shouldn't add too much time or fuss, she says. In fact, many islands are pre-made, and all you have to do it pick out a countertop.

By calling a contractor soon, you can find out how refacing can give you the kitchen cabinets you've always wanted without too much hassle, cost, or time.

via yahoo homes

Tuesday, March 11, 2014

How Homes are Valued?

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How Homes are Valued

Home Selling Tips How Homes are Valued
Homes are valued a lot like everything else: They are worth what people will pay for them. The Maybach Exelero, the most expensive car in the world, sells for $8 million because that's what people will pay for it. By the same token, you can ask for $8 million for your Hyundai, Ford or Chrysler, but don't count on getting it – you'll get what the market says it's worth.
So, how do we know what a willing buyer will spend for a house? Although we may never be certain, by looking at the recent past, we can come up with a pretty good idea. This is why the market value of a house is based on sold homes that are comparable in various ways.
In other words, it doesn't matter what amount Tom, the next-door neighbor, lists his house for. The only thing that matters is what Jessica, your former neighbor, got for her house. List prices are fantasies while sold prices are reality.

Determining an accurate asking price for your home is vital, and the best way to find that price is by having the home professionally appraised. The second best way is to ask a real estate agent for a comparative market analysis. While both the appraiser and the real estate agent use the prices of sold homes as a basis, the appraisal process is a bit more in-depth.

The Appraiser
Licensed appraisers aren't house experts, but they are analysts, able to pull together myriad facts and statistics to arrive at a home's value.

To avoid a conflict of interest, most lenders adhere to the Home Valuation Code of Conduct (HVCC) and use the services of an appraisal management company.

The First Step in the Appraisal Process
Shortly after you've accepted an offer to purchase, you'll receive a call from the appraiser to set up an appointment to see the home. The time he or she spends inspecting the home varies, depending on the appraiser, but plan on it taking at least 30 minutes.

The appraiser makes note of the floor plan and any improvements, and takes measurements of the exterior of the home to determine the square footage.

Step Two
The appraiser uses statistics from the multiple listing service, public records, or a combination of both to find recently closed sales that are similar in age, size, location and features to your home. Typically, the appraiser relies on sales within the last 90 days, but may go back as far as six months. She will also use homes within a 1-mile radius of yours.

The Final Steps
The final steps of the appraisal involve comparing your house, which the appraiser calls the "subject," to the comparable homes. She'll use a list of criteria that includes the age of the homes, size, number of bedrooms and bathrooms, location and any improvements made to the homes.

She'll add or subtract value from your home depending on how it stacks up to the comparable houses until she arrives at the market value of your home.

What to Do if You Disagree With the Appraisal
An appraisal obtained by the lender is paid for by, and therefore belongs to, the buyer. So the lender won't send you, as the seller, a copy. It is up to the buyer to supply you with a copy if he or she is willing.

That said, if the appraised value is determined to be lower than what the buyer has agreed to pay, the lender will typically not lend on the property and the buyer and seller have some decisions to make.

The buyer can come up with a larger down payment (which brings down the amount of money he needs to borrow). Most buyers think long and hard about this option – nobody wants to overpay for a house.

The seller and the buyer can agree to split the amount that is over the appraised value, with the buyer bringing half the cash to the deal and the seller lowering the price of the home to meet his half of the deal.
Another option, and the one most commonly used, is that the seller lowers the price of the house to meet the appraiser's evaluation.

Finally, the seller can simply walk away from the deal.

Before any of these steps are taken, however, the buyer and the seller should review the appraisal to ensure that the appraiser used accurate information in his determination. Appraisers are human and do make mistakes. If errors are found, the buyer can notify the lender and ask for another appraisal.

via www.SweeEastValleyHomes.com

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Wednesday, March 5, 2014

Creating Curb Appeal: 6 Ways to Improve Your Home's First Impression

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Creating Curb Appeal: 6 Ways to Improve Your Home's First Impression

You've probably heard the old saying, "You never get a second chance to make a first impression." That's true in life, and it's true in real estate. If you're in the process of selling your home, take a moment to walk across the street and look at your home with a critical eye. What are potential homebuyers seeing as they pull up? Is your home giving off a good first impression? Does it have good curb appeal?

Real estate agents and home staging services know how important curb appeal is to the home selling process. It only takes a couple of seconds for potential homebuyers to form an opinion of your home based on its curb appeal. Below are six ways to improve your home's first impression.


First Step: A Critical Review
Remember that trip across the street I mentioned above? Well, after living in your home for years, you may not be the best judge. Invite a friend or family member over to give your home a critique. What would they do to improve your home's curb appeal? If they can't make it over, take some photos and email them to some friends for their review. We tend to see things in photographs that we miss when we're casually looking at things. Print your pictures out on 8 ½-by-11-inch paper, draw on them, and make notes about what changes you want to make.

Give it a Fresh Coat of Paint
A fresh coat of paint can go a long way toward improving your home's curb appeal. If a potential homebuyer drives up and sees cracked and peeling paint, what impression will that leave? Not only will the homebuyer think you haven't maintained the exterior of your home, but he is going to wonder what other maintenance items have been neglected.

Make sure the colors you choose fit with the neighborhood and the character of the house. You want your home to have great curb appeal, but that doesn't mean it should stick out markedly from the rest of the houses on the block. If you're selling your home, neutral colors are the best because they will have broader appeal. However, a neutral paint color doesn't have to be boring. Add some pizzazz by painting your front door a more vibrant, complementary color.

Make it Welcoming
Whether it's a decorative wreath on the front door, some decorative pots with brightly colored flowers, or simply great porch lighting, make your front door visible and inviting. Don't overdo it. Keep things simple, but make it easy to spot your front door. If you have overgrown shrubs blocking the view to your home, it will feel less safe. Trim shrubs back to eliminate any areas where predators could lurk, and make sure your house number is clearly visible.

Get Rid of the Junk
"One man's trash is another man's treasure" applies to garage sales and antiquing. Improve your home's curb appeal by putting things away and storing items that don't enhance your home's first impression. The less clutter you have around your front door and in your front yard the better.

Maintain Your Lawn
If you have a home with a lawn, the best thing you can do to create great curb appeal is to keep it maintained. Mow your lawn to a height of about 2 inches. Many people believe that mowing a lawn shorter is better, but with a blade height of about 2 inches, the grass is long enough to provide some shade for the roots, which helps the roots retain moisture and promotes stronger root growth.

Manually remove weeds as soon as you see them to prevent them from going to seed and becoming a bigger problem. Weeds generally show up in areas where the lawn is weak or lacking in nutrients. Over-seed any areas where the grass is thin and use an organic fertilizer to provide nutrients and maintain healthy soil.
Near sidewalks, driveways, and planting beds, edge your lawn with a line trimmer or straight spade to maintain a nicely manicured edge. There is no need to buy plastic lawn edging. It rarely holds up over time. A spade and a little muscle can do the trick. However, if you find you really want a built edge to your lawn, use aluminum edging. It is far more durable than plastic and will cut down on some of the maintenance needed to maintain the shape and size of your planting beds.

Oh, the Pressure!
Maintaining concrete driveways, sidewalks, and patios is always important for providing safe walking surfaces. However, if you are selling your home, what is the one thing a potential homebuyer is going to do? They will walk up your sidewalk or driveway to your front door. If you want your home to make a great first impression, fix any major cracks and make sure your entry sidewalk is free of debris, moss, and uneven edges. Pressure-wash concrete surfaces to remove any built up dirt and moss.
As you can see, most of these tasks are things you are probably already doing, but when neglected, they can take away from your home's curb appeal. Creating great curb appeal really just comes down to maintaining your home. Performing these tasks on a regular basis means you'll never have to worry about your home making a great first impression.

Friday, January 3, 2014

Home Seller Tips - See The Light

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Did you know that Thomas Edison tried and failed 10,000 times to create the light bulb? Where would we be if he stopped at 9,999? If your house didn't sell recently maybe it's time to give it another try. After all, a buyer for your house might be just around the corner- literally.

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Monday, December 23, 2013

8 Kitchen Remodeling Ideas for Under $500

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8 kitchen remodeling ideas for under $500


Frugal ideas to remodel the kitchen
Remodeling a kitchen may sound like a big, expensive project. But the truth is that there are ways to breathe new life into an old kitchen without spending much money.

"A kitchen remodel can be done on any budget," says Lowe's spokeswoman Jaclyn Pardini. "The secret to success lies in careful planning. Conduct research ahead of time, find your inspirations, and know which projects you can complete yourself and which ones you'll leave for an expert."

Naturally, there are limits to what you can do on a budget. But many home-remodeling experts stress that moderately handy homeowners with just a little cash to spend can make a big difference in their kitchen. And if the work looks good, you're adding equity to your home, according Erin Davis, lead designer for Mosaik Design & Remodeling in Portland, Ore.

Here are eight kitchen remodeling projects that cost $500 or less.

Spruce up your walls
If your kitchen feels old, there's no better remedy than a coat of paint.

"Paint is by far the best bang for your buck," Davis says. "One of my design teachers once told me that a gallon of paint is worth $500 (in terms of) the value it brings to a space. Not only does it instantly change the feel of a space, but if you do it yourself, it will cost virtually nothing."

For about $100, a less time-consuming upgrade is to add molding to the area where your cabinets meet the ceiling.

"If you're handy with a table saw, it would only take you an afternoon to add a chunky piece of crown molding to the tops of your upper cabinets," says Atlanta-based DIY blogger Kelly Marzka, who runs View Along The Way. "This is an easy way to make inexpensive cabinetry feel like custom pieces."

Freshen up cabinets
New cabinets may sound expensive, but most DIYers know cabinets are one of the easiest, most cost-effective ways to revamp a kitchen.

One simple trick is to add or replace the hardware on existing cabinets.

"Hardware is like jewelry for your cabinets," Davis says. "You'll be surprised at how different your cabinetry looks with updated hardware."

Changing hardware is easy, and you can choose from many styles without spending more than a few dollars per piece.

Another, more involved, option is to paint the cabinets, which will make them look new without replacing them.

"All cabinets, even laminate ones, can be painted if you use a strong primer," says Jay Hart, CEO of Sold with Style, a New York home design firm.

Supplies should run less than $100. But before you paint, it's important to prep. Remove the doors from the cabinets, cover the hardware or remove it, and be sure to sand away old paint.

Float a new look for the sink
You don't have to be a plumber to give your kitchen sink a makeover, but you do have to be somewhat handy, according to Jamie Gold, a certified kitchen designer in San Diego and the author of "New Kitchen Ideas That Work."

You can replace the faucet on your sink rather easily in about an hour. But, says Gold, the costs vary dramatically. "Depending on the quality and features of the faucet, you could spend anywhere between $150 and $500."

A more dramatic option, and one that requires a little more muscle, is to replace the whole sink. The project will take a few hours, and it should run you between $250 and $500 for a new sink.

Update the lighting
If you've ever thought your kitchen might look better in a different light, you may be on to something, according to Davis.

"It is amazing what a great light fixture can do to a room," Davis says. "Just swapping out new fixtures in the existing locations is the most affordable way to go. Another good idea is to add recessed can lights to a kitchen to improve the general lighting."

If you're changing fixtures, Davis says most homeowners can do it pretty quickly on their own with some basic instruction. But adding recessed cans might get a little tricky for a novice. Thankfully, each high-quality recessed light installed by an electrician should run about $150, which includes materials and labor. And if you don't feel comfortable doing anything electrical yourself, Davis says it's possible to hire a good electrician for up to $95 an hour.

Renew counters and floors
New counters and floors will probably test your kitchen remodel budget and your handiwork. But if you're up for it, either one of these changes can have a dramatic impact on your kitchen's appearance.

At about $2 a square foot, Hart says homeowners shouldn't overlook vinyl flooring, which "has come a long way."

When it comes to countertops, homeowners have even more budget options. Granite tile can give you a granite look without the price of a granite slab, says Gold, who adds that you can tile over existing tile if you rough up the underlying surface with a sander.

Similarly, Davis points out that you can install laminate countertops on top of existing counters. Hardware stores sell countertops for as little as $45 per section. And if you're looking for an installation tutorial, the experts say you can find a lot of quality presentations on YouTube. Just remember to keep a laptop or tablet handy as a reference.

Buy (almost) new appliances
Changing an appliance will push the outer limit of any budget. But if you're willing to accept minor imperfections, it is possible to pick up a new appliance for less than $500.

"You can update appliances by going to a 'scratch-and-dent' store where they sell new appliances at a steep discount due to minor cosmetic flaws," Gold says.

The term refers to cosmetic blemishes that preclude retailers from selling the appliances as new, but when it comes to functionality, the buyer is getting a new product.

Unfortunately for your budget, unless you're talking about a new refrigerator, you may have to hire someone to install the new appliance, which could add a few hundred dollars to the project.

Add a backsplash
You may not think the wall space behind your sink offers a lot of design potential. But the truth is that adding a backsplash is one of those small changes that can have a big impact.

"One of the easiest ways to spruce up a kitchen is to change the backsplash," says Christine Tse, an interior designer in New York City. "This small change will instantly change your kitchen from drab to fab."

The cost will depend on the size of your backsplash and the type of material you choose. Coming from New York, Tse says she's fond of subway tiles, which can run about $350 for 12 square feet. If you want something high-end like white Carrara marble, you should plan on spending about $450. But if you want to keep costs down, you can hunt around for options in the $200 range.

You'll need to block out a day to do the job, or two days if the tiles need grout work. But the good news is you don't have to be a tile expert to put in a backsplash. A lot of hardware stores run free weekend classes that show you how to do these projects.

Install more storage
If you're strapped for storage in your kitchen, you probably aren't doing yourself any favors in the aesthetics department.

"Clear the clutter by moving cookbooks and other clutter off of the countertops and adding some floating shelves to the walls," says Dorothy Myers, a Realtor and interior designer at Sky Real Estate in Washington, D.C. "There are all kinds of wonderful storage solutions to organize kitchen cabinets and to move those often-needed items off of the countertop and into the cabinets or onto the walls that will be functional and beautiful."

The shelves you pick will drive the cost, but Myers says you can pick up thick floating wood or glass shelves for about $40 each. Thinner, less expensive shelves can be had for as little as $5 apiece.

A moderately handy homeowner should be able to do the project in a few hours, according to Myers.

"Just make sure that you anchor the shelves to studs to ensure that the shelves can hold some weight, if your wall is drywall," Myers says.

via bankrate

Monday, November 18, 2013

Home Seller Tips - Asking Price

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Home Seller Tips - Asking Price


Would you ever pay more than market value for a house? No way, right? But check this out. If your house doesn't sell, it might have been overpriced. Which means you're the highest bidder for a house you're trying to sell. Want to know more? Contact me for Free and No Obligation Consultation today.



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Wednesday, October 16, 2013

For Sale: Get a Home Market Ready to Sell

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Want to be the seller who goes to market instead of the one who stays home? The difference might be a few of the things you do before you plant that "for sale" sign.

It's a buyer's market. Your house has competition, and that means you have to do some work to get it ready to sell. So, while your home looks great compared to the neighbor's foreclosure, it might not quite compare to that house a block over where, rumor has it, the owner clips the lawn with an electric razor.

You don't have to spend a ton of time or money. A few simple tricks can get you market ready in time for the start of the spring selling season. Especially if you start now.
Here are tips from top agents to give your home the edge.

Make it shine
Step one to getting your house market ready: Break out the cleaning supplies.

"Give it a really good cleaning," says Jeff Wiren, immediate past president of the Portland Metropolitan Association of Realtors in Oregon.

The problem: "A lot of sellers might not have the same perception of 'deep cleaning' that a buyer would," he says. For that reason, "it might be worth spending a couple hundred dollars to have professionals come in and clean."

Two places where clean can be critical for buyers are kitchens and bathrooms, says Pat Vredevoogd Combs, past president of the National Association of Realtors. Having those rooms clean and sparkling can make a huge difference in the perception of "whether a house is kept up or not," she says.

Windows and baseboards are crucial, says Mark Ramsey, broker with The Ramsey Group at Keller Williams Realty in Charlotte, N.C. If you're not replacing carpets, have those cleaned, too, Wiren says. The potential outlay for a cleaning service and carpet cleaning is likely in the neighborhood of $300 to $500 total, he estimates. "It has a much greater impact than most sellers think."

Add square footage -- free!
Ditch junk and clutter to make your house look more attractive and spacious.

"This is now a showcase," says Patricia Szot, immediate past president of the Dallas-based MetroTex Association of Realtors. "You are no longer living in it; you are showing it."

A couple of pro tips:
  • Laundry room: Make it neat and orderly, Szot says. Your goal is to make it look like the room is plenty big enough for the job.
  • Pantry: It's for food only, Ramsey says. Using the pantry for general storage screams, "Not enough cupboard space."
  • Garage: If it's a two-car garage, make room for two cars, Szot says. For a lot of men, if the garage "looks small because of the clutter, there's an issue."
"And while you're decluttering, you're depersonalizing," Wiren says. "You really need the buyer to be able to picture your home as their home." A picture of your kids on the nightstand is "not a big deal," he says. But you don't want the family portrait gallery lining the hallway.

Color it neutral
With paint, stick to neutrals, several agents say.

"I have had people who painted some of their rooms and picked the colors themselves" in shades of pink and purple, says Combs, who is vice president of Coldwell Banker AJS Schmidt Realty in Grand Rapids, Mich. "And it was more of a negative than a positive when they put their homes on the market."

Their mistake wasn't DIY painting but color selection, she says. Opt for neutrals, which have a broader appeal.

"Then consider the flooring. If the carpeting is old and stained, put in new carpeting," says Szot, operating principal with Keller Williams Realty, Lake Cities at Firewheel.

Keep plans practical
Keep any planned changes to the house reasonable and in character with the home and the neighborhood.

"Don't lie to yourself," says Wiren, a principal broker with Re/Max Equity Group. If the house has areas that show wear, get that work done before offering the home.

Seek a second opinion from your agent or a potential agent. A real estate professional can advise you on what repairs or upgrades will give you the most bang for your buck.

"The price of your house is going to determine what things you should do," Combs says. One client spent $10,000 putting in hickory cabinets and granite countertops in the kitchen of a home that listed in the $100,000 range, she recalls.

"In that price range, it wasn't necessary," Combs says. "And we couldn't get any more money for the house."

See with 'buyer's eyes'
View the house from the buyer's perspective. "Pull up and stop right in front of it, just like a buyer's going to do," Ramsey says. Then "let yourself in the front door, like a buyer's going to do."

How does your home compare to others on the street? Is it inviting? Does it make you want to see more?

"Walk through the home with the eyes of a buyer," Szot says. If you're buying another house, think about what you want to see in your new home, she says.

Pay special attention to the entryway, Ramsey says. "You want it to be open as much as possible," he says. Look at the furnishings you have in the area, and err on the side of less-is-more. "When in doubt, get it out," Ramsey says. "You want it open and bright with neutral paint."

via bankrate

Wednesday, September 4, 2013

Adding Art Deco Style to Your Living Room

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Adding Art Deco Style to Your Living Room
Made popular in the 1920s and 1930s, the elegance and glamour of art deco design can be resurrected in your home today. Art deco swept the interior design world in Europe and the United States beginning in the mid-1920s. Signature elements of the design include distinct geometric shapes, shine and a bold reflection of world culture and modernism.

The famous art deco buildings of Miami are standout examples of this design, but there is much more to this style than those structures and pastel colors. The lavishness and sleek glory of the art deco lifestyle highlights contrast and drama at its finest.

Designing your living room in art deco style makes a statement in all areas of the room.

Floors
In many ways the art deco living room begins with the floors. Linoleum tiles, lacquered wood, or polished parquet wood is the base for the rest of the room. Today, linoleum and parquet wood get a bad reputation for being cheap or ugly because of inexpensive peel-and-stick options available at big-box stores. That is not the case with these floors.

The materials that make up the art deco floor are made of high quality products that are durable with a heavy sheen. Linoleum tiles or wood pieces are arranged in patterns to create interest in the room. Checkered or border patterns are good tile options. Classic black-and-white tiles can work well with this style. Wood patterns can be alternating dark and light squares or planks, the traditional herringbone pattern, or any number of other patterns. Large area rugs with outstanding geometric shapes, Egyptian zigzags, or sunbursts often secure the room or delineate areas of the living space. Circular rugs can break up the angles of the rest of the room.

Colors
Although any color can work with this style, there are a couple sure ways to go when choosing a color palette. Choosing a mellow cream or beige as the main color allows for bolder accessories or pops of brighter color throughout the room. Neutral color families also work well with lacquered wood and wood inlaid furniture. Bold wall colors tend to go well with metallic furniture and accessories.

Furniture
A few large pieces of furniture will easily fill an art deco living room. A large, streamlined sofa or loveseat flanked by comfortable yet sleek chairs will provide the seating for the room. A side table or coffee table, also in a glossy design, can be used to enhance the seating area. Glass, metal or unadorned wood make perfect tables for this room. Mirrored armoires can add a little luxury to the room and hide modern televisions and media players.

Accessories
Selecting accessories is easy and fun when you use your floors, color palette and furniture as a guide. Silver and chrome provide the shine that is indicative of the art deco style. Window treatments are downplayed with this type of décor. Simple drapes, cornice boxes or solid colored valances can act as accents for the windows. Leaving windows uncovered also works for this style. Fabrics should be solid colors or include some of the patterns mentioned earlier. Pillows and throws are places to use some of those pops of bold colors. Use framed movie posters, magazine covers, original artwork of the era, or art that channels its heyday to echo historic aspects of art deco design. Mirrored or shiny boxes can top tables or shelves alongside small statues.

Seek Out Art Deco Treasures
Making the old new again is the key to this style. Art deco originated at a time when artifacts of exotic cultures were being discovered and brought to Europe and the United States. Archeological finds provided inspiration for this style. Think of those Egyptian zigzags or the South American stucco influence of Miami's buildings. Visit antique stores, collectors or consignment furniture stores for international vintage pieces to add to your living room as focal points. These art and sculptural finds paired with the right furniture will create a perfect art deco setting.

Own It
The art deco style of today is still reminiscent of a certain swagger of times gone by. It's not lacey or romantic. When you incorporate art deco elements into your interior design, the result can be a style that is amazingly bold and sharp-angled, simple yet very sophisticated.

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Wednesday, August 28, 2013

What Home Buyers Desire Today

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Homebuyers nowadays have some advantages over prospective buyers during the years of the housing bust: low (but rising) interest rates and relatively low (but rising) home prices in many markets. Those advantages don't necessarily translate into confidence about a home purchase.

Buyers want to be sure they are buying a home that will at least maintain its market value, if not appreciate over the coming years.

In order to feel more certain about their choice of home, today's buyers want homes that meet three factors of good value:
  • Price
  • Condition
  • Location.
"Since no one knows when the market will truly level out and values will start to climb, buyers are trying to insulate themselves from buying an overvalued home," says Roxanne Gennari, a sales associate with Coldwell Banker Residential Brokerage in Princeton Junction, N.J. "Buyers are looking for the best deal they can get. In many cases, they only want to buy if they can get a house at a certain price."

Here are six items on homebuyers' checklists in today's market.

Buyers want homes that maintain value
Buyers are looking for neighborhoods where prices are rising or have at least stabilized, says Leisa Frye, a Realtor with Better Homes and Gardens Real Estate Metro Brokers in Roswell, Ga. "Buyers want to make sure their home won't be worth less in the future," Frye says, "so while they are focused on getting a good deal, they are looking for some control over not losing value in the future. They want a discount on already low prices as an insurance against potential declining value."

In Massachusetts, Gary Rogers, broker/owner of Re/Max on the Charles in Waltham, Mass., says buyers don't always find the bargains they look for.

"Lots of buyers expect rock-bottom prices, but there are no steals out there," Rogers says. "Buyers are trying to get superlow prices, but sellers who are already pricing their home at market value are not accepting those kinds of offers."

Buyers want homes in move-in condition
When homebuyers crave bargains, they sometimes look for fixer-uppers -- until they see one. Then, a lot of potential buyers change their minds, says Ben Coleman, broker/owner of Century 21 Hartford Properties in San Francisco.

"Some buyers may be willing to do a little bit of cosmetic work like replacing the carpet or having something painted, but most are looking for a home in ready-to-move-in condition," Coleman says. "The preference is for a maintenance-free home, although few homes are truly maintenance-free."

Rogers says the desire for ready-to-move-in homes may be a side effect of home-and-garden television programming.

"People used to love 'This Old House' and think they wanted to do their own work, but now they watch shows on HGTV like 'House Hunters,' where everyone leans toward homes that are in turnkey condition," Rogers says.

"Buyers don't want to deal with contractors," Frye says. "And they don't want a paint or carpet allowance. I tell my sellers to do everything before they even think about putting their home on the market."

Homebuyers want homes in handy locations
As always, the mantra "location, location, location" still applies to buying real estate. The better the location, the higher the home's value. Nowadays, buyers factor in amenities such as commute times when they assess a neighborhood's desirability.

"Location has become even more important recently than it used to be, with buyers wanting to be near the city or at least near some kind of public transportation," Rogers says. "We're seeing empty-nesters move into Boston while 20-something and 30-something buyers are moving just outside the city in order to afford to buy."

In San Francisco, Coleman says living within walking distance to amenities and to public transportation is the No. 1 priority for most buyers.

"We talk about Walk Score all the time now, which tells you how close a particular home is to things like a coffee shop, a grocery store, and a bus or subway stop," Coleman says.

Buyers want functional homes
During the housing boom, buyers looked for the biggest, most amenity-laden homes they could afford. Sometimes they bought houses they couldn't afford. Those days are over.

"Buying a home used to be all about size and luxury, but now it's about buying a functional home; one that is satisfactory and just large enough," Gennari says. "Some people still want a big home, but those that have owned one often want something smaller and not some rambling home that's expensive to heat."

Rogers says homebuyers want smaller homes for several reasons.

"It's partly a reflection of the recession, that people are being more careful and conservative," Rogers says. "They are concerned about the manageability of their home, property taxes and utility bills, and they want to be able to save money even after they buy a home."

Rogers says that while empty-nesters are particularly eager to downsize, almost all buyers share the same sensibility about size.

"It used to be OK to be extravagant, to look for a home that had 2,500 or 3,000 square feet when they really only needed 1,800 square feet," says Rogers. "Times have changed."

Buyers are looking for open floor plans
Homebuyers today gravitate toward open floor plans, in which the kitchen, family room and dining room share one space where family members can see and talk to one another.

For this reason, buyers in Georgia look for homes built in 2000 or later, mostly because the floor plans of 21st-century homes reflect the way people live today, Frye says.

She says buyers don't particularly want formal living rooms because they don't have formal furniture. A living room frequently is converted into a study or another family room.

"Everyone wants an open kitchen and family room, or at least a direct view from the family room into the kitchen, so that the family can be together even when someone is cooking," Frye says.

Buyers in the San Francisco area prefer a great room and an open floor plan, Coleman says.

"A lot of older homes in this area weren't built to be open, and have small rooms and small closets," Coleman says. "Those homes that have been renovated or can easily be changed into a more open design are extremely desirable."

Coleman says natural light is important to buyers, especially in combination with open rooms.

Buyers want a 1st-floor bedroom
Now that baby boomers are getting older, a long-predicted trend is coming to fruition: Homebuyers look for a first-floor bedroom, even if they don't intend to use it just yet. The space can be a master suite, a guest room or a flexible room that can be converted into a bedroom someday.

"The baby boom generation wants a first-floor bedroom because they are forecasting that they will stay in their home longer," Rogers says. "In addition, we're seeing more extended family members moving in together, especially since people are staying healthy longer and living longer."

Frye says homebuyers in her area prefer a guest suite on the main level rather than a master suite, unless they are elderly.

"Buyers in their 30s, 40s and 50s usually want the master bedroom upstairs, so they can be near their kids," says Frye. "If there are no health issues, they want to be upstairs, but they also want a bedroom and a full bath on the main level for their elderly parents and in-laws who live with them or even just visit."

By Michele Lerner, bankrate.com

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