During the home buying boom years between 2003 -2005, there was a rush of buyers wanting a home and this put the sellers in the driver's seat and calling the shots. Since then real estate market has been slowing down in many parts of the country now the buyers are in the driver's seat.
Several reasons for buying a home now:
1. There are plenty of homes on the market in all price ranges
2. Prices are competitive
3. Interest rates are very affordable
4. Sellers are ready to bargin
5. Builders are willing to offer attractive inventives on new homes
First-time home buyers are choosing to keep renting and "play safe" and opting to postpone the opportunity to build wealth in home equity. Owning a home could easily cost no or little more than paying rent. Also, this market is seeing a tightening in rental availability and rates are rising.
No one can totally predict the peaks and valleys in the housing market. If you sit on the "fence" waiting for the best deal, you may miss out on the opportunity to become a homeowner. Remember, there are great tax benefits received by homeowners and they can accumulate equity with a relatively small investment.
It's always a good idea to enlist the services of a licensed realtor who can help you find your perfect home. An experienced agent can work with you through the entire process and answer any questions you may have.
Thursday, November 29, 2007
Wednesday, October 24, 2007
Getting Your Home Ready for Winter
Taking the time to winterize your home can help avoid hazards like fires, frozen pipes and help reduce those heating bills.
1. Clean gutters of leaves and other debris. This will allow rain, snow and melting ice to be removed more quickly.
2. Have your furnace check by a licensed technician to make sure it's running properly and there are no leaks in the ducts.
3. Re-caulk your windows and doors. This will help make your home easier to heat.
4. Keep your home at least 60 degrees when you're not home. This will prevent pipes from bursting.
5. Familiarize yourself with your outdoor water shut-off valve. Insulate any exposed pipes. That includes draining all water hoses.
6. Have your in-ground sprinkler system winterized as these pipes are not insulated. Any water remaining in these pipes could freeze and burst the pipes.
7. Remove gasoline and oil from lawnmowers, chainsaws, and weed eaters.
8. Have your fireplace check for debris and have it cleaned before you start using.
9. Driveways need to be sealed to prevent water from seeping in and then freezing and causing cracks.
10. Check and replace any worn weather stripping around all exterior doors.
Thursday, September 6, 2007
Closing Process for Buying a Home
Whether buying your first home or your tenth home, this should be a time of celebration. Many skilled professionals are working hard behind the scenes to make sure you receive clear title and the close goes smoothly. At the same time, you are busing packing, scheduling movers, changing your phone and utilities service so everything will be ready for the move.
It all starts with a contract that has been accepted by both the seller(s) and the buyer(s). The contract will be reviewed by the settlement agent. The earnest money will be deposited into an escrow account where it will remain until the time of close.
One of the first things that happen is the request for title work. This will disclose how many loans are on the property (1st mortgage, 2nd mortgage, home equity line). The agent will order payoff figures from each lender. Other reports can include, surveys, septic letter, termite letter and inspection report. If you are financing your home, your lender will require you to have a homeowner insurance policy which might include flood insurance if the home is in a flood zone.
Once the preliminary work is completed and all information on the contract, loan closing documents and title commitment has been compiled, the settlement agent is ready to prepare the HUD settlement statement. All costs must be shown in the HUD. A HUD is divided into two sides--the seller's side and the buyer's side. This includes closing costs and pre-paid costs. Pre-paid costs include earnest money, insurance, loan application fees, appraisal fees and property taxes.
Once everything is finalized, the settlement agent will schedule a time and place to close. Sometimes both sides will use the same settlement agent but more often each side will close with a different settlement agent and a currier will transport the legal documents between agents. At that time the seller will transfer ownership to the buyer.
Thursday, August 23, 2007
Mini Makeover With Paint
Americans spent over $300 billion on home improvement in 2006 with about 19% of these projects were carried out by the homeowners themselves. While home improvement projects include cabinets, carpet, new hardware, light fixtures, cabinets, new doors, and molding, small changes can create a huge new look.
Paint ranks #1 as the favorite and least expensive tool interior designers use to change a room and create a new look. The cost of painting the average room is about $100. This includes paint, rollers, brushes, and other accessories.
The type of paint is important. The first thing to look for is durability. A flat paint is best to hide imperfections. Satin pants provide a quality finish and is easier to clean. Enamels are best for walls that need more cleanability and they can stand up to humid conditions.
When it comes to colors, keep it soft and low-key. Interior designers will say shades of white or neutral colors will create a clean, neat feel. These colors won't loose their appeal over time and it's easier to change and update furniture and accessories. That's not to say makeovers can't include trends like painting a darker color on a focal wall or below the chair rail to add emphasis.
Special note: If you are planning to sell your home, neutral colors appeal best to most buyers.
Paint ranks #1 as the favorite and least expensive tool interior designers use to change a room and create a new look. The cost of painting the average room is about $100. This includes paint, rollers, brushes, and other accessories.
The type of paint is important. The first thing to look for is durability. A flat paint is best to hide imperfections. Satin pants provide a quality finish and is easier to clean. Enamels are best for walls that need more cleanability and they can stand up to humid conditions.
When it comes to colors, keep it soft and low-key. Interior designers will say shades of white or neutral colors will create a clean, neat feel. These colors won't loose their appeal over time and it's easier to change and update furniture and accessories. That's not to say makeovers can't include trends like painting a darker color on a focal wall or below the chair rail to add emphasis.
Special note: If you are planning to sell your home, neutral colors appeal best to most buyers.
Friday, August 10, 2007
Plantation Shutters Are A Growing Trend
The increased demand for plantation shutters has helped to drive down the cost. This makes shutters much more afforadable and so more popular. Shutters add more to a home's resale value. They are considered a permament fixture in a home and add real value. Besides looking stunning, shutters can save on energy bills, add privacy, add light control and they are easy to clean.
Plantation shutters work well with other window treatments or can stand alone. With the increase in poplularity so have the styles and sizes. Shutters can be found for by-pass doors, french doors, Palladian windows, circular windows, ovals, and just about every other type of windows and doors. They also go with every style home from contemporary to historic.
Shutters come in a variety of natural and man-made materials. Faux wood have almost twice the insulation properties of wood. Wood shutters can be found in pine, basswood, mahogany, and red oak. Polywood shutters are made from engineered wood which looks like wood but without the problems of real wood.
The number one reason people buy shutters is aesthetics and the number two reason is for the increased value it gives to their home. The most popular color is white.
Plantation shutters work well with other window treatments or can stand alone. With the increase in poplularity so have the styles and sizes. Shutters can be found for by-pass doors, french doors, Palladian windows, circular windows, ovals, and just about every other type of windows and doors. They also go with every style home from contemporary to historic.
Shutters come in a variety of natural and man-made materials. Faux wood have almost twice the insulation properties of wood. Wood shutters can be found in pine, basswood, mahogany, and red oak. Polywood shutters are made from engineered wood which looks like wood but without the problems of real wood.
The number one reason people buy shutters is aesthetics and the number two reason is for the increased value it gives to their home. The most popular color is white.
Thursday, July 26, 2007
Cool Down Your Energy Bills
Don't let the summer overheat your budget! Here are several simple ways to cut your energy costs:
1. Keep blinds and curtains closed on the windows so the hot sun will stay out and keep you cooler.
2. Replace filters more often. Dirty filters can clog your air conditioner and make it work harder to keep you cool.
3. Vacuum the coils underneath or behind your refrigerator. Dusty coils make it harder for your refrigerator to keep foods cold. It's good to do this at least once every 3 months.
4. Buy programmable air conditioner controls. Manually cutting off the air condition and opening windows actually cost you money. Air conditioners not only cool the air but remove moisture which makes you feel cooler at higher temperatures.
5. Keep weeds and debris away from your air conditioner to keep it running more efficiently.
6. Caulk windows, doors, chimney and where plumbing comes out of your house. That will eliminate cracks that allow cool air to escape and the hot air to get in.
7. Turn out lights when leaving a room. Incandescent bulbs can generate almost as much heat as a small heater. Also use lower watt bulbs like 60 watt bulbs instead of 150 watt bulbs.
8. Attach dimmer switchs to lamps and room lights. They cost less than $5 and can save you as much as 50% on energy consumption.
9. Take your cooking to the grill. Cooking on the grill is cheaper than gas or electricity. Plus cooking in your home can raise your room temperature 5-10 degrees.
10. If your fireplace has a flue, keep it closed. Cool air can escape in the summer just like warm air in the winter.
11. Check the insulation if your attic. As the years pass, the insulation will settle and shift. This can create gaps that will allow cool air to escape.
12. Put reflective film on your windows. It is relatively inexpensive and you can do it yourself. This will help keep your carpets and furniture from fading and make your rooms up to 10% cooler.
13. Make sure the air conditioner matches the size of your home. An air conditioner that it too large will cool your home before the humidity can be removed. One that's too small will make it work too hard to cool every room.
14. Using a power strip for all of your computer equipment like speakers, printer, monitor, and CPU will allow you to turn off everything with one switch and will help protect aganst power surges.
15. Remove the refrigerator out of a garage that is uninsulated. It has to work harder to keep the inside cool. Move it to a spare room or an insulated basement or turn it off completely.
16. Attach motion detectors to your outside lights. These are great for safety and are much more cost effective.
Taking cool ideas outside:
17. Planting trees and bushes around your house can help reduce your cooling costs and $100 to $300 per year.
18. Keep your lawn mower tuned up can save you as much as 30% on fuel consumption. Have your mower blade sharpened at the beginning of each season. This will make it able to use less energy and cut grass with less work.
19. Get rid of your above ground sprinkler system because water will evaporate no matter how cool it is outside. Instead, switch to a drip irrigation system that will deliver water directly under ground.
20. Install solar powered lights to line your driveway, sidewalk and above the garage door. They charge all day and can light all night.
1. Keep blinds and curtains closed on the windows so the hot sun will stay out and keep you cooler.
2. Replace filters more often. Dirty filters can clog your air conditioner and make it work harder to keep you cool.
3. Vacuum the coils underneath or behind your refrigerator. Dusty coils make it harder for your refrigerator to keep foods cold. It's good to do this at least once every 3 months.
4. Buy programmable air conditioner controls. Manually cutting off the air condition and opening windows actually cost you money. Air conditioners not only cool the air but remove moisture which makes you feel cooler at higher temperatures.
5. Keep weeds and debris away from your air conditioner to keep it running more efficiently.
6. Caulk windows, doors, chimney and where plumbing comes out of your house. That will eliminate cracks that allow cool air to escape and the hot air to get in.
7. Turn out lights when leaving a room. Incandescent bulbs can generate almost as much heat as a small heater. Also use lower watt bulbs like 60 watt bulbs instead of 150 watt bulbs.
8. Attach dimmer switchs to lamps and room lights. They cost less than $5 and can save you as much as 50% on energy consumption.
9. Take your cooking to the grill. Cooking on the grill is cheaper than gas or electricity. Plus cooking in your home can raise your room temperature 5-10 degrees.
10. If your fireplace has a flue, keep it closed. Cool air can escape in the summer just like warm air in the winter.
11. Check the insulation if your attic. As the years pass, the insulation will settle and shift. This can create gaps that will allow cool air to escape.
12. Put reflective film on your windows. It is relatively inexpensive and you can do it yourself. This will help keep your carpets and furniture from fading and make your rooms up to 10% cooler.
13. Make sure the air conditioner matches the size of your home. An air conditioner that it too large will cool your home before the humidity can be removed. One that's too small will make it work too hard to cool every room.
14. Using a power strip for all of your computer equipment like speakers, printer, monitor, and CPU will allow you to turn off everything with one switch and will help protect aganst power surges.
15. Remove the refrigerator out of a garage that is uninsulated. It has to work harder to keep the inside cool. Move it to a spare room or an insulated basement or turn it off completely.
16. Attach motion detectors to your outside lights. These are great for safety and are much more cost effective.
Taking cool ideas outside:
17. Planting trees and bushes around your house can help reduce your cooling costs and $100 to $300 per year.
18. Keep your lawn mower tuned up can save you as much as 30% on fuel consumption. Have your mower blade sharpened at the beginning of each season. This will make it able to use less energy and cut grass with less work.
19. Get rid of your above ground sprinkler system because water will evaporate no matter how cool it is outside. Instead, switch to a drip irrigation system that will deliver water directly under ground.
20. Install solar powered lights to line your driveway, sidewalk and above the garage door. They charge all day and can light all night.
Wednesday, July 18, 2007
Finding the Right Buyer's Agent
A Buyer’s Agent services are almost always FREE! If you don’t know anything about buying real estate, finding one who does, makes you smarter. The right Buyer’s Agent is essential to enjoying a painless real estate transaction. It’s important to find an experienced professional who will listen to your specific needs and wants in a home.
Agents are trained to present their clients in the best light. They agree to hold client information confidential from competing interests. Look for a Buyer’s Agent who conducts business in an ethical manner and one you can feel comfortable working with. Remember, the best agent for you is the one who knows your market area and will be with you from the beginning of your home search until you get the “keys” to your new home.
After close problems can happen. Even in the smoothest transactions problems can arise after you move into your home. In the excitement of buying a home, questions may have been overlooked. A good agent will be ready to assist and won’t leave you “in the dust” to fend for yourself.
Developing relationships for the future. Successful agents work hard to keep their clients happy and will often stay in touch by periodically mailing updates to keep them informed. These agents will be there for future needs.
Agents are trained to present their clients in the best light. They agree to hold client information confidential from competing interests. Look for a Buyer’s Agent who conducts business in an ethical manner and one you can feel comfortable working with. Remember, the best agent for you is the one who knows your market area and will be with you from the beginning of your home search until you get the “keys” to your new home.
After close problems can happen. Even in the smoothest transactions problems can arise after you move into your home. In the excitement of buying a home, questions may have been overlooked. A good agent will be ready to assist and won’t leave you “in the dust” to fend for yourself.
Developing relationships for the future. Successful agents work hard to keep their clients happy and will often stay in touch by periodically mailing updates to keep them informed. These agents will be there for future needs.
Saturday, July 7, 2007
Updating the Bathroom!
Bathrooms are rated near the top in importance by many home buyers. Bathrooms are one of the most important rooms in the home, mainly because every member of the household uses this room especially if it does double duty - used by adults and children. First impressions are hard to change, so make the most of first impressions.
When selling a home, the bathroom needs to sparkle and look fresh. A neutral paint colors helps make a room feel larger. A bathroom should be quiet that means no dripping faucts, running commodes, or dripping bath tubs. Clean all fixtures including the lighting and replace any burned out light bulbs. Repair and replace worn out plumbing like the commode and the faucet(s). Floors and tile need to be clean and stain free. Also remove personal items from view. Replace or remove old medicine cabinets. Clean the linen closet and the cabinet under the sink. Prospective home buyers will peek.
Making a bathroom appealing does not necessarily have to be expensive. Often paint, new rugs, new towels, new shower curtain, and a good cleaning can add real value to your home.
When selling a home, the bathroom needs to sparkle and look fresh. A neutral paint colors helps make a room feel larger. A bathroom should be quiet that means no dripping faucts, running commodes, or dripping bath tubs. Clean all fixtures including the lighting and replace any burned out light bulbs. Repair and replace worn out plumbing like the commode and the faucet(s). Floors and tile need to be clean and stain free. Also remove personal items from view. Replace or remove old medicine cabinets. Clean the linen closet and the cabinet under the sink. Prospective home buyers will peek.
Making a bathroom appealing does not necessarily have to be expensive. Often paint, new rugs, new towels, new shower curtain, and a good cleaning can add real value to your home.
Wednesday, May 9, 2007
welcome!
The Jill Harris Dream Team
UnClog the Blog!
Wednesday, May 9, 2007
Improving the Value of Your HomePart I – The Kitchen
(Most important room in the house for Resale!)
As real estate prices rise in many of the Middle Tennessee areas we serve, homeowners are able to just sit back and watch their equity roll in. The housing market has it's own in the stock market.But you don’t have to patiently wait for the market to add value to your house. Be proactive now! Make an honest assessment of the strengths and weaknesses of your property and find ways to enhance them by adding physical value; making the right home improvements.This could mean a project as big as renovating a kitchen or something as small as sprucing up the landscaping in front of your house for added curb appeal. Whether you do it yourself or hire a professional, the goal is to give your house what we call the "WOW Factor" you want something that will make your home stand out from the competition.When creating "WOW" spaces in your home, remember that people buy three things: Neatness, Cleanliness and Brightness. So whichever projects you choose, plan to lighten your dark spaces, visually open up areas that seem small and by all means, remove clutter! The bigger the spaces look, the more a potential buyer can visualize THEIR belongings in your house.In the following paragraphs, we suggest a few home improvement ideas that will definitely add value:
"The Kitchen" Everybody winds up in the kitchen. And now more than ever, the hub of the family is focused in the kitchen – so that is usually the one room you can count on to "sell" the house all by itself. And whether you invest a little or a lot, you should see a substantial payoff. The average return on an upgraded kitchen is 168% of the investment.A few minor improvements can add significant value here: Consider painting the cabinets – nothing changes the look of a kitchen faster. Or, give the cabinets extra flair by staining them with three different stains: a light shade on the upper cabinets, one slightly darker on the drawers, and the darkest on the bottom cabinets. But remember not to instill your particular design colors, keep the colors neutral so you appeal to the masses when reselling your home. Probably the easiest (and least expensive) way to update the look of your kitchen is to install new cabinet hardware. Crown molding placed where the cabinets meet the ceiling creates an elegant look.
"The Kitchen" Everybody winds up in the kitchen. And now more than ever, the hub of the family is focused in the kitchen – so that is usually the one room you can count on to "sell" the house all by itself. And whether you invest a little or a lot, you should see a substantial payoff. The average return on an upgraded kitchen is 168% of the investment.A few minor improvements can add significant value here: Consider painting the cabinets – nothing changes the look of a kitchen faster. Or, give the cabinets extra flair by staining them with three different stains: a light shade on the upper cabinets, one slightly darker on the drawers, and the darkest on the bottom cabinets. But remember not to instill your particular design colors, keep the colors neutral so you appeal to the masses when reselling your home. Probably the easiest (and least expensive) way to update the look of your kitchen is to install new cabinet hardware. Crown molding placed where the cabinets meet the ceiling creates an elegant look.
Accent lighting is especially popular especially in the kitchen. It creates drama where you wouldn't expect it. An inexpensive solution is the purchase a rope light from a hardware store that can be hidden on top of your cabinets and easily plugs in to any outlet. While you’re at it, add a tile or beadboard backsplash to the countertop. It is exyremely important to coordinate all of your appliances in color and style but not necessarily brand name. Perhaps the most popular look for kitchens today is stainless steel appliances. "Silver" appliances gives that same stainless steel look but resists finger prints. Maintaining one color theme will also make your kitchen look more polished and efficient. If your existing dishwasher is white and the rest of your appliances are black, don’t despair – most modern dishwashers come with interchangeable covers, so try flipping it over and replacing just the facing.
The kitchen will receive the most traffic in your home and the flooring will be the first thing a potential buyer will notice. Again, neutral tile is a winner to please most of the market. Homeowners who upgrade their kitchen flooring have seen a 101% average return on their investment. If your kitchen has windows, consider dressing them up with wooden blinds or Roman shades made of colorful fabric. Just adding some sort of window treatment will brighten the room. Updating the light fixtures in your kitchen can help your house sell faster as well. Earlier, we discussed above cabinet lighting but it is important to also add under cabinet lighting. This addition is not just for looks but for functionality. Gourmet cooks will appreciate your enhancements – and you’ll appreciate them too! Considering the average return on investments made to change lighting and brighten up the kitchen is an incredible 865%! Complete the room by painting it a pleasant, neutral color that will compliment the colors of your countertops and appeal to the masses. The average return on investment for a fresh paint application in the kitchen is 148%!
Next Week's Unclog the Blog: "Updating the Bathroom".
Subscribe to:
Posts (Atom)