Donna's Realty News February 2011

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Four Mistakes to Avoid When Want to know what your home is worth?
Selling Your House Call today for an estimate.
When your house sits on the market without any offers, you
(888) 525-8847
start to question why it hasn t sold. Is it the economy? Is it in the
wrong location? Sometimes the problem isn t the economy or
the location, but rather simple 4. Getting Emotionally Involved
homeowner mistakes. Here are Emotions don t mix well with business
the top mistakes homeowners transactions. If a buyer offers you
make when selling their homes. $30,000 below your asking price, it can
feel like he is insulting you and your
1. Pricing too High house. But buyers don t have the same
Homebuyers are concerned with attachment to your home; they are simply
their bottom line, not yours; if looking for a deal. Before turning down an
you price your house higher than offer you deem insulting, consider coun-
the neighborhood average in an tering it. If you and the homebuyer are
attempt to cover your expenses, both willing to compromise, you can come
you will scare off buyers who are to an agreement you both find acceptable.
looking out for their own fi-
nances. Keep your asking price Many factors can sabotage a sale, from a
in line with comparable homes struggling economy to a cluttered home.
for sale in your neighborhood. You can t fix the economy, but you can
change your own behaviors to increase

2. Accumulating Clutter your chances of success. If you keep calm

Clutter accumulates in a home over time; because the change is in the negotiating process, set reasonable

gradual, homeowners rarely notice. But a homebuyer will see it viewing hours, stay organized and tidy, and match

all. Before viewings, clear all the clutter out of your home. When your competition s asking price, you could see a

you think your home is clutter-free, take a digital picture of each sold sign in your front yard.

room. Clutter might be invisible to the naked eye, but it always

shows itself in pictures. Keep clearing items out of your home
until the pictures look magazine-worthy.

3. Restricting Viewing Hours

Buyers can t buy what they can t see. If you refuse to let your
agent show your home on evenings and weekends, you could be
missing a sale. Be flexible with your viewing hours; let your agent
show your home to potential buyers weekdays, weeknights and
weekends. To make it less inconvenient, stipulate that you want
at least a 24-hour advance notice before viewings.

Any Agent - (888) 525-8847 Donna's Realty News - February 2011

Donna's Realty News February 2011

Protect Your Hardwood Floors 3. Rugs. For high traffic areas such as entryways and
stairs, it is a good idea to protect your floors with small
The rich, warm color and sleek look of a hardwood floor rugs. Just be sure to use a quality rug pad underneath
adds elegance and class to any home. However, unless the rug to protect the floor from any dirt that sifts
they are properly maintained, hardwood floors will be- through the rug fibers.
come noticeably dull and scratched af-
ter only a few years of wear. To keep 4. Consider your furniture. Every
your hardwood floors beautiful, you piece of furniture, from tables to
must carefully maintain their condition. couches, will scratch a hardwood floor
unless it is fitted with a felt pad. You
1. Prevention is key. Sand and dirt may think that your couch is stationary,
that is brought into the home by foot but every time you sit on the couch it
traffic can have very damaging effects moves a small amount. Simply place
on a hardwood floor. If there is sand on self-adhesive felt pads on the bottom of
the floor, daily activity will grind it into your furniture to help it slide along the
the surface of the flooring and leave surface of your floor without causing
scratches and scuffs. To prevent this, do any damage.
not allow shoes in the home. Get into a
routine of removing your shoes at the 5. Conceal scratches. In a perfect
door, and place a large mat at the en- world, you would be able to prevent
trance of the home to catch dirt before every nick and scratch from harming
it enters the home. your floor. However, life happens and
sometimes your flooring takes a bit of
2. Surface clean daily. At the end of each day, it is a abuse. If you notice a scratch, it can easily be concealed
good idea to pick up surface dirt with a quick sweep. This with simple shoe polish. Just apply a color that closely
does not have to be a thorough cleaning, but this quick, matches the coloring of your floor, and use a clean, dry
simple chore can go a long way to prevent unnecessary cloth to buff and polish the scratch away.
wear and tear on your flooring.

Home Remodeling: What’s the Best steel entry door; this project on average recoups 102.2
Return on Investment? percent of renovation costs. Garage doors also make the
list of wise investments, recouping from 69.8 to 83.9 per-
The Remodeling Cost Vs. Value cent. Other money-smart renova-
Report 2010-2011 ranked 35 tions include siding replacement
remodeling projects based on and wood window replacement,
how much money they recoup; in each recouping up to 80 percent
other words, how much of the and 72.4 percent, respectively.
initial investment a homeowner
can expect to earn back when the Inside the home, it wasn t kitchen
house goes up for sale. Which and bathroom renovations that
renovations are worth the most? brought in the money. Rather, the
two projects that best retain their
Curb appeal is more important now than ever before. The value for resale are attic renovations and basement re-
report states that outdoor upgrades recoup more money models, recouping 72.2 percent and 70 percent, respec-
than interior renovations. If you only complete one reno- tively. These two projects take advantage of a home s
vation, make sure you replace your old front door with a existing square footage, proving that it s more cost effec-

Any Agent - (888) 525-8847 Donna's Realty News - February 2011

Donna's Realty News February 2011

tive to work with the space you have, rather than add more of the initial investment than a costly one. The re-
square footage with an extension. port found that a minor $20,000 kitchen upgrade re-
coups 72.8 percent of renovation costs, but a more ex-
Three renovations retain significantly less value upon re- pensive $58,000 kitchen remodel only retains 68.7 per-
sale: sunroom additions, which recoup 48.6 percent of cent of its value on resale. A wood deck with a price tag
renovation costs; home office remodels, which recoup of $10,000 will recoup 72.8 percent, but a composite
45.8 percent; and backup power generators, which re- deck that costs $5,000 more will only recoup 66.2 per-
coup 48.5 percent. Unlike front entry doors and windows, cent. A steel entry door will make you money, retaining
these renovations are not necessary; a house doesn t 102.1 percent of its value, but a more expensive fiber-
need a home office to still function as a house. Their value glass door will only recoup 60 percent of your investment.
depends largely upon what a homebuyer wants and needs
in a home. Some homebuyers don t want sunrooms, and When you remodel a space, you are making an invest-
most homebuyers in urban areas don t need backup gen- ment. And like any investment, you should do your re-
erators. The less demand there is for a certain type of search before you pull out your checkbook. Contact your
renovation, the less its resale value. local real estate agent to find out if a renovation you re
considering will retain its value in your neighborhood.
Another surprising finding of the report disproves the old
adage, You have to spend money to make money. When To learn more, read the Remodeling Cost Vs. Value Report
2010-2011 online at www.remodeling.hw.net/2010/
it comes to home renovations, you have to save money to
costvsvalue/national.aspx
make money. An affordable renovation usually recoups

Real Estate Trends for 2011 Mortgage rates are still low and are expected to re-
main in the five percent range for the upcoming year.
Mortgage lenders have tightened their lending poli-
The time is now for qualified homebuyers to start
cies, but qualified buyers who have good credit will be
looking for their dream home. Low house prices com-
able to secure a mortgage at a low percentage rate.
bined with low mortgage rates make 2011 the perfect
Lenders expect that borrowers will have a down pay-
time to purchase a home.
ment and have a debt to income ratio that ranges
from about 30-45 percent.
Experts from the Urban Land Institute
predict that homeowners will continue
Forbes predicts that by the end of
to buy smaller, more energy-efficient
2011, there will be a need for new
houses. Since people are looking at first
houses because current building
homes as a ten-year commitment in-
trends are not keeping up with popu-
stead of the previous five-year, they are
lation demands. This could eventually
less likely to settle for a property that s
lead to a shortage of housing at some
less than ideal.
point in the future. Buyers interested
in purchasing a new home may find
With plenty of houses on the market,
prices that are higher than expected if
homeowners trying to sell their property
building continues to be slow.
will have to keep prices competitive. All
small repairs should be completed on the home be-
Investors who can buy property with cash are at a
cause potential homebuyers will have many houses to
huge advantage this year. Prices are already low, but
choose from in their price range and will be looking at
sellers may be willing to accept an even lower cash
details sometimes overlooked in the past.
offer to avoid having to deal with lending institutions.

Any Agent - (888) 525-8847 Donna's Realty News - February 2011

 
 

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Bathroom Design is All in the Details

Inside This Issue Courtesy of ARA Content

- Four Mistakes to Avoid Not sure which design elements you want to incorporate
When Selling Your House into the bathroom? "We've created several full bathroom
suites of fixtures and faucets," says Jennifer Lee from
- Protect Your Hardwood
Danze, Inc. "The elements of each collection were literally
Floors
made for each other."
- Home Remodeling: What s
the Best Return on Here are a few things to consider when choosing the
Investment? critical elements:
- Real Estate Trends for
Sink and vanity - For those smaller footprint powder
2011
rooms, or where storage isn't as critical, consider a ped-
Photography Credits: estal sink. If a pedestal doesn't match your taste or function needs, furniture-style
vanities can have a significant impact on a room's decor and add extra storage.
© Morgan Lane Studios / iStockphoto
© Phartisan / Dreamstime
© iofoto / iStockphoto Faucet - A soft brushed nickel or warm oil rub bronze finish can add a distinct
© Michal Bednarek / Dreamstime detail to the decor. For green options, explore WaterSense-approved faucets that
The material in this publication is provided can reduce water usage by 20 percent, without affecting performance.
for your informational purpose only and is
not intended to substitute professional ad-
vice. If your property is currently listed Toilet - This is one of the best places to go 'green' in your bathroom. High-
with a Real Estate Broker, this publication
is not intended as a solicitation. ©2011 efficiency toilets use 1.28 gallons per flush, saving two or more gallons of water
AnyPresentations.com and its licensors each use compared to many toilets installed in the 1980s and prior.