Thursday, November 19, 2009
Tuesday, November 10, 2009
Getting ready to sell? Here are some tips.....
HomeGain’s recent survey shows the top do-it-yourself home improvements that Realtors recommend to home sellers. HomeGain received responses from nearly 1,000 Realtors nationwide and configured a list of the top 12 do-it-yourself (DIY) home improvements that cost under $5,000 and benefit sellers most when they sell their homes.
According to the HomeGain survey, the top five home improvements that Realtors recommend to home sellers based on cost and return on investment (from highest to lowest ROI) are:
1. Cleaning and de-cluttering
2. Home staging
3. Lightening and brightening
4. Landscaping
5. Repairing plumbing
Cleaning and de-cluttering continues to rank as the top suggested home improvement (since the survey was originally conducted in 2000), recommended by 98% of Realtors, costing less than $200 and returning a value of nearly $1,700 to the home’s sale price, or an 872% return on investment.
“Many Realtors agree, especially in a buyer’s market, that sellers who make these recommended home improvements often get their homes sold faster and at higher prices,” stated Louis Cammarosano, General Manager at HomeGain. “We have customized our Home Sale Maximizer online home improvement tool to help identify and prioritize the projects that can increase the salability and selling price of a home.”
Rounding out the top 12, the list of low cost, do-it-yourself home improvements includes: updating electrical, replacing or shampooing carpets, painting interior walls, repairing damaged floors, updating kitchen, painting outside of home, and updating bathroom/s.
The home improvement projects with the highest price increases to a home’s resale value are updating the kitchen ($1,200 cost / $2,850 price increase), followed by painting the outside of the home ($900 cost / $1,815 price increase) and home staging ($300 cost / $1,780 price increase).
“Inexpensive cosmetic home improvements and basic improvements greatly enhance the value of the home,” stated Carol Wilson of Carpenter Real Estate in Indianapolis, IN, HomeGain AgentEvaluator member since 1999.
According to the HomeGain survey, the top five home improvements that Realtors recommend to home sellers based on cost and return on investment (from highest to lowest ROI) are:
1. Cleaning and de-cluttering
2. Home staging
3. Lightening and brightening
4. Landscaping
5. Repairing plumbing
Cleaning and de-cluttering continues to rank as the top suggested home improvement (since the survey was originally conducted in 2000), recommended by 98% of Realtors, costing less than $200 and returning a value of nearly $1,700 to the home’s sale price, or an 872% return on investment.
“Many Realtors agree, especially in a buyer’s market, that sellers who make these recommended home improvements often get their homes sold faster and at higher prices,” stated Louis Cammarosano, General Manager at HomeGain. “We have customized our Home Sale Maximizer online home improvement tool to help identify and prioritize the projects that can increase the salability and selling price of a home.”
Rounding out the top 12, the list of low cost, do-it-yourself home improvements includes: updating electrical, replacing or shampooing carpets, painting interior walls, repairing damaged floors, updating kitchen, painting outside of home, and updating bathroom/s.
The home improvement projects with the highest price increases to a home’s resale value are updating the kitchen ($1,200 cost / $2,850 price increase), followed by painting the outside of the home ($900 cost / $1,815 price increase) and home staging ($300 cost / $1,780 price increase).
“Inexpensive cosmetic home improvements and basic improvements greatly enhance the value of the home,” stated Carol Wilson of Carpenter Real Estate in Indianapolis, IN, HomeGain AgentEvaluator member since 1999.
Sunday, November 8, 2009
The details for condo purchasers
A Hampton Roads condo is a desireable product for a large number of buyers. Choose well and Make sure you do your homework! By Law you have the right to review the condo docs to get the answers. Know your questions first.
Questions to Ask Your Potential Hampton Roads Condo Association:
If you’re looking at buying a Hampton Roads condo, you need to be aware that there are condominium associations that oversee condo developments just like there are homeowner’s associations that oversee subdivisions. However, they may not work the same and can vary widely from condo to condo. Here are a few things you need to ask the association before signing that contract:
1. What’s the ratio of owner-occupied to tenant-occupied units? More owner-occupied units means better marketability if you want to resell.
2. Do the assessments rise with inflation? This doesn’t sound like a good thing, but matching assessments with the rate of inflation means the ability to build reserves for any future repairs.
3. What does the assessment cover (trash collection, condo maintenance, etc.) in the Hampton Roads condo? Some association assessments may not cover recreational facilities, for instance, while other condos’ assessments may cover a broad range of areas.
4. What is the turnover in the building? If it’s high, that’s an indication of issues you may not be familiar with.
5. How much of the assessments do they keep in reserve and for what? How do they invest the money? If you’re paying fees and assessments, you want to make sure they aren’t spent frivolously.
6. Are they involved in a lawsuit? If the condo is in litigation, those reserves can disappear quickly.
7. How reputable is the builder? If you can, visit other projects and ask the residents how they feel about their place. Get an engineer’s report to find out if the building is in good shape. Any problems that are there when you buy are yours once you sign the contract.
8. What are the condominium’s bylaws, restrictions, covenants and grandfather clauses? You want to make sure you can live with them. In addition, you’ll want an attorney to look over the documents with you.
9. Is more than one association involved? The larger the development, the more likely that there are umbrella associations. Several associations can mean several assessments.
If you’re looking for a condo that perfectly fits your lifestyle and needs, I can help.
Questions to Ask Your Potential Hampton Roads Condo Association:
If you’re looking at buying a Hampton Roads condo, you need to be aware that there are condominium associations that oversee condo developments just like there are homeowner’s associations that oversee subdivisions. However, they may not work the same and can vary widely from condo to condo. Here are a few things you need to ask the association before signing that contract:
1. What’s the ratio of owner-occupied to tenant-occupied units? More owner-occupied units means better marketability if you want to resell.
2. Do the assessments rise with inflation? This doesn’t sound like a good thing, but matching assessments with the rate of inflation means the ability to build reserves for any future repairs.
3. What does the assessment cover (trash collection, condo maintenance, etc.) in the Hampton Roads condo? Some association assessments may not cover recreational facilities, for instance, while other condos’ assessments may cover a broad range of areas.
4. What is the turnover in the building? If it’s high, that’s an indication of issues you may not be familiar with.
5. How much of the assessments do they keep in reserve and for what? How do they invest the money? If you’re paying fees and assessments, you want to make sure they aren’t spent frivolously.
6. Are they involved in a lawsuit? If the condo is in litigation, those reserves can disappear quickly.
7. How reputable is the builder? If you can, visit other projects and ask the residents how they feel about their place. Get an engineer’s report to find out if the building is in good shape. Any problems that are there when you buy are yours once you sign the contract.
8. What are the condominium’s bylaws, restrictions, covenants and grandfather clauses? You want to make sure you can live with them. In addition, you’ll want an attorney to look over the documents with you.
9. Is more than one association involved? The larger the development, the more likely that there are umbrella associations. Several associations can mean several assessments.
If you’re looking for a condo that perfectly fits your lifestyle and needs, I can help.
Friday, November 6, 2009
Has our market hit bottom? You decide! (Click to View Link)
http://www.varealtor.com/Portals/0/docs/VAR_Q1FACTS_Postcard_ForDownload.pdf
Tuesday, November 3, 2009
Distressed Properties Lend Opportunities for Everyone
We’ve heard a lot about the ‘perfect storm’ over the past year—appreciating home prices, plus loans gone bad, plus unemployment equals a devastating downturn for real estate. But there’s another perfect storm you should know about: distressed properties, plus HUD’s FHA 203k rehab loans.
Real Estate is the best avenue to build wealth and there are opportunities for everyone in this market. Are you thinking about a move or interested in investing in real estate? We have the knowledge and resources to find the fit for you and help you with a property purchase or sale.
Contact me to discuss the opportunities available.
Real Estate is the best avenue to build wealth and there are opportunities for everyone in this market. Are you thinking about a move or interested in investing in real estate? We have the knowledge and resources to find the fit for you and help you with a property purchase or sale.
Contact me to discuss the opportunities available.
Sunday, November 1, 2009
Tax Credit to extend and offer $6,500 to others
The amendment would extend the existing $8,000 tax credit for first-time home buyers and offer a new $6,500 credit for existing homeowners who have lived in their current residence for a consecutive five-year period within the past eight years. Under the amendment, home buyers would be required to be under contract by April 30 and close before July 1.
Subscribe to:
Posts (Atom)