Monday, August 6, 2012
Seek Greater Enlightenment...In Your Home!
A recent article in Realtor Magazine talked about the importance of proper illumination when selling a home. It cited a recent survey that found that “lightening and brightening” a home can offer the second-biggest return to sellers (behind #1 “cleaning and de-cluttering.” A $224 investment in upgrading light fixtures and window cleaning can potentially offer a three-fold return at the time of resale!
But even if you’re not planning on selling soon, these lighting tips might make your home a more warm and inviting place to live!
1. Use clear light bulbs. Choose clear light bulbs over opaque for a cleaner look. I’ve been noticing that a lot of retail home stores use this tactic.
2. Make all bulbs match: This is a huge pet peeve of mine! Mismatched bulb types in a chandelier, for example, are uncomfortable to the eye and make a room feel chaotic.
3. Use the highest possible wattage bulbs: Except in bathroom sconces where they can create a harsh glare.
4. Clean light fixtures. Brush off dusty light shades, remove dead bugs from light fixtures, and get rid of cob webs in chandeliers. 5. Replace dated light fixtures: Don’t wait until you’re selling to upgrade your fixtures. Brass is definitely out and unappealing to buyers, and you’re probably tired of it too! I’m amazed at how affordable great lighting fixtures have become at places like Home Depot, Lowes, Ikea and more. Another option if you don’t want to buy a new fixture…try spray paint! Use metallic iron-colored spray paint on light fixtures, switch plates, etc. It gives a room an instant new look for just a few dollars!
But even if you’re not planning on selling soon, these lighting tips might make your home a more warm and inviting place to live!
1. Use clear light bulbs. Choose clear light bulbs over opaque for a cleaner look. I’ve been noticing that a lot of retail home stores use this tactic.
2. Make all bulbs match: This is a huge pet peeve of mine! Mismatched bulb types in a chandelier, for example, are uncomfortable to the eye and make a room feel chaotic.
3. Use the highest possible wattage bulbs: Except in bathroom sconces where they can create a harsh glare.
4. Clean light fixtures. Brush off dusty light shades, remove dead bugs from light fixtures, and get rid of cob webs in chandeliers. 5. Replace dated light fixtures: Don’t wait until you’re selling to upgrade your fixtures. Brass is definitely out and unappealing to buyers, and you’re probably tired of it too! I’m amazed at how affordable great lighting fixtures have become at places like Home Depot, Lowes, Ikea and more. Another option if you don’t want to buy a new fixture…try spray paint! Use metallic iron-colored spray paint on light fixtures, switch plates, etc. It gives a room an instant new look for just a few dollars!
Wednesday, November 2, 2011
Will 2012 be a Seller's Market?
For the past few years, we've been working in a buyer's market. That is, there were way more listings than buyers out there. That's been tough for a listing agent like me.
But it seems we may be looking at a big change going into next year. Here are a couple factors that point to Cleveland's east side becoming a seller's market:
Fewer foreclosures - Foreclosures should slow down as Freddie Mac and Fannie Mae change their rules and more financially distressed homeowners are able to hold on to their homes. I haven't seen foreclosures being a huge factor in the Chagrin Valley, but they are out there.
Fewer Housing Starts - Builders have been leery of building spec houses and starting new developments. But there is pent up demand for new construction. We estimate that 15% of buyers want a brand new house, and there's definitely a shortage in our area.
Interest Rates - Buyers are going to come to realize that our amazing low interest rates have no where to go but up. Buyers who have been on the fence waiting for rates to go lower may finally buy. That means more buyers out there.
Inventory - Our inventory of houses for sale is so low! In almost every community, the number of listings is down.
It all comes back to your high school economics class....good old supply and demand!
But it seems we may be looking at a big change going into next year. Here are a couple factors that point to Cleveland's east side becoming a seller's market:
Fewer foreclosures - Foreclosures should slow down as Freddie Mac and Fannie Mae change their rules and more financially distressed homeowners are able to hold on to their homes. I haven't seen foreclosures being a huge factor in the Chagrin Valley, but they are out there.
Fewer Housing Starts - Builders have been leery of building spec houses and starting new developments. But there is pent up demand for new construction. We estimate that 15% of buyers want a brand new house, and there's definitely a shortage in our area.
Interest Rates - Buyers are going to come to realize that our amazing low interest rates have no where to go but up. Buyers who have been on the fence waiting for rates to go lower may finally buy. That means more buyers out there.
Inventory - Our inventory of houses for sale is so low! In almost every community, the number of listings is down.
It all comes back to your high school economics class....good old supply and demand!
Monday, September 26, 2011
Things to Consider Before Renting Your House
When your house has been on the market awhile and it doesn’t sell, it’s tempting to rent it. After all, it would be nice to have money coming in every month and for the home not to be sitting empty.
But renting is more complicated than you may think, and there are some important things to think about.
Top on my list of worries is how the renters will care for your home Time and time again I hear horror stories of friends who rented their properties only to get them back in terrible condition. Even when you rent to nice families, with good incomes, who seem so great when you meet them. I think it has something to do with pride of ownership…when it’s not their home, they just don’t take care of it the same way.
Other good ideas before renting:
Consult with an eviction attorney – What will you do when your renter doesn’t pay one month, either because they won’t or can’t? You should understand the legal challenges of eviction before deciding to rent.
Interview Property Managers – Being a landlord means getting a call at any hour of the day or night regarding maintenance issues. Are you ready and capable of handling it? It also means finding qualified tenants and collecting the rent. Collection calls aren’t fun. What if your tenant told you that they have enough money to buy food for their kids or pay you rent, but not both?? You might want an experienced property manager on your team to help with these situations.
Create a Realistic Budget – Renting brings some money in, but also creates expenses. When deciding on your rental amount, you need to cover more than just the mortgage payment. You should also include property taxes, maintenance expenses (things like repairing or replacing the roof, appliances etc.) and insurance.
But renting is more complicated than you may think, and there are some important things to think about.
Top on my list of worries is how the renters will care for your home Time and time again I hear horror stories of friends who rented their properties only to get them back in terrible condition. Even when you rent to nice families, with good incomes, who seem so great when you meet them. I think it has something to do with pride of ownership…when it’s not their home, they just don’t take care of it the same way.
Other good ideas before renting:
Consult with an eviction attorney – What will you do when your renter doesn’t pay one month, either because they won’t or can’t? You should understand the legal challenges of eviction before deciding to rent.
Interview Property Managers – Being a landlord means getting a call at any hour of the day or night regarding maintenance issues. Are you ready and capable of handling it? It also means finding qualified tenants and collecting the rent. Collection calls aren’t fun. What if your tenant told you that they have enough money to buy food for their kids or pay you rent, but not both?? You might want an experienced property manager on your team to help with these situations.
Create a Realistic Budget – Renting brings some money in, but also creates expenses. When deciding on your rental amount, you need to cover more than just the mortgage payment. You should also include property taxes, maintenance expenses (things like repairing or replacing the roof, appliances etc.) and insurance.
Thursday, September 8, 2011
The big question: Chagrin VS Kenston Schools
A question I hear from out-of-town buyers moving to this area is, "Chagrin Falls or Kenston--which has the better schools??"
And when working with local buyers, it seems everyone has a strong opinion...they HAVE to be in Chagrin schools or they insist it's GOT TO BE Kenston.
As a real estate agent, I am not allowed to advise or comments on schools. All I can do is point external & objective resources, let them do their own research and come to their own conclusion.
The Ohio Department of Education recently came out with their Report Card and it's great news for our area...all schools here were rated at least EXCELLENT by the Ohio Department of Education.
Chagrin Falls and Orange were rated Excellent with Distinction, and Kenston and Solon were named Excellent.
I think the really interesting thing is how they scored...Chagrin's index score was 109.2 and Kenston's 107.2! How close is that?!
So my short answer to buyers who ask about schools...We are so fortunate to have so many excellent schools to choose from in our area!
(For more info go to the Ohio Dept of Education website at http://ilrc.ode.state.oh.us/)
And when working with local buyers, it seems everyone has a strong opinion...they HAVE to be in Chagrin schools or they insist it's GOT TO BE Kenston.
As a real estate agent, I am not allowed to advise or comments on schools. All I can do is point external & objective resources, let them do their own research and come to their own conclusion.
The Ohio Department of Education recently came out with their Report Card and it's great news for our area...all schools here were rated at least EXCELLENT by the Ohio Department of Education.
Chagrin Falls and Orange were rated Excellent with Distinction, and Kenston and Solon were named Excellent.
I think the really interesting thing is how they scored...Chagrin's index score was 109.2 and Kenston's 107.2! How close is that?!
So my short answer to buyers who ask about schools...We are so fortunate to have so many excellent schools to choose from in our area!
(For more info go to the Ohio Dept of Education website at http://ilrc.ode.state.oh.us/)
Tuesday, August 30, 2011
CHOMP that Wallpaper
Wallpaper and border is usually the first thing that needs to go when getting ready to sell your house. It seems like a nightmare project, but JUST DO IT! Some sellers are tempted to leave it because it's too much work for them and the next buyers might like it or take it down themselves. Bad idea--in most cases it will be a huge turn off to buyers viewing your home and they will assume it's very expensive to remove. So if they do decide to make an offer--despite your ugly wallpaper--they will low ball you.
So, get busy removing your wallpaper and border. Try this product I just used to remove some decals and border in my daughter's bathroom. It's called CHOMP and it was so effective. I wiped it on the borders and decals and in a few minutes they all just wiped right off. It took no time at all and no hard work or scrubbing. I purchased it at Home Depot but I'm sure it's sold at any home improvement or hardware store.
Hope it works as well for you...happy chomping!
Thursday, August 18, 2011
Possibly the Cutest House for Sale in Bainbridge!
Help me spread the word about this terrific home on Old Meadow in Bainbridge. The owners have renovated it top to bottom. The highlight is this awesome Kraftmaid kitchen. Every bath has been redone, it has tons of living space, and is on a beautiful 1.5 acre lot. All this for just $295K! Tell your friends looking for a home in Kenston Schools....
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