Real Estate Blog
8 Cheap wasy to make your home more energy efficient Started by Paula Mayes and Debbie Osborn - Posted November 21, 2008 1:36pm
Replace your refrigerator
This is one of the biggest energy-guzzling appliances in the house, says Lisa Dornan, spokeswoman for Direct Energy, and there have been big changes in the efficiency of this appliance over the last five years. "If you look back at the top-rated refrigerator in 2001 that was Energy Star, and one you'd buy today with an Energy Star rating, there would be a 20% to 40% difference in energy efficiency," she says. Her firm, Direct Energy, performs home energy audits and is an energy retailer. Replacing older dishwashers and dryers can make a big difference too, she adds.
Install a programmable thermostat and a timer for the water heater
Just as you would flip off the lights before heading out to work, you should turn the heating or cooling off or down while you're away. Program the thermostat for a higher temperature when you're gone in warmer months, or lower in cooler months. These thermostats can be had for $150 at big-box hardware stores.
Likewise, don't heat your water when you're not there to use it. "You definitely want to make sure you are not heating the whole tank needlessly," Dornan says.
Tankless water heaters can be a great investment too, she adds, but they may take a few years to pay for themselves.
Don't let the heat escape
Also, caulk window and door frames to make sure they are airtight. And if possible, use honeycomb-type shades on the inside to trap the heat before it is absorbed into the room.
Use compact fluorescent bulbs
This is kind of a no-brainer, experts say, because it's so cheap to do and saves so much on your electricity bill. "Just for swapping out 10 light bulbs (in my home), I was able to get $400 a year in energy savings," Dornan says.
Change the filter on your air conditioner regularly
This monthly maintenance helps it run more efficiently, Dornan says, and minimizes wear and tear on your unit. Arranging furniture so it doesn't block air vents also is important to maximize the flow of cooling from your system.
Put in shady landscaping
Planting a tree or some vegetation outside a big window can shade your house from the strongest rays of the sun and stifle freezing winds. Planting low-water native plants can also cut your water bill, lowering the total cost you pay for you home each month. Invest in an attic fan
These inexpensive fans can make a difference in the temperature of the whole house and keep your air conditioning from working so hard.
Invest in an attic fan
These inexpensive fans can make a difference in the temperature of the whole house and keep your air conditioning from working so hard.
TIPS ON STAGING YOUR HOME Started by Paula Mayes and Debbie Osborn - Posted October 16, 2008 2:51pm
Tips on Staging a House |
With just the right special effects, good staging can transform a home into a house of dreams. Done wrong and a home can become more like the set of a horror movie.
Home staging has become the norm in today’s competitive real estate market. The homeowner’s equivalent of hiring a celebrity stylist for Oscar night, the stager’s goal is to accentuate all architectural assets, making spaces that could be perceived as austere or intimidating feel warm and inviting.
Staging has a physics defying effect that makes small rooms larger, outdoor areas more dramatic and expands overall square footage. Home staging is particularly adept at communicating a lifestyle of good design and subtle luxury that says, “I’ve made it.. Not that I care….” Staging always increases the sale price. It’s a short-term, high yield investment.
Take a peek at how to make staging take center stage in your home for sale!
Right here. Right now…in ten easy steps.
- Step One: Appeal. Start with curb appeal, including raking up the fallen leaves, having an attractive front door with updated hardware and exterior light fixtures. Curb appeal should exude an unforgettable first impression that entices buyers to get out of the car and cross the threshold.
- Step Two: Enchant. The front entry should generate some pomp and circumstance, excitement, drama, maybe a little razzmatazz. Create a focal point with an oversized mirror, a piece of art, lamp on a console table, fresh flowers or scented candles -- but not all at once. Add drama.
- Step Three: Refresh. Sand and refinish hardwood floors. Clean carpets or replace dated flooring or countertops. Remove memories of little one's handprints off the walls.
- Step Four: Rearrange. Create appropriate furniture layouts where buyers aren’t dodging around coffee tables and dressers, making for better flow and showing off space. A better set design may be to focus towards the mountains, landscaped backyard, or park.
- Step Five: Upgrade. Stainless steel appliances are the rage because they add the commercial look of perceived value.
- Step Six: Accommodate. Give your bathrooms that "Star" look. Add thick, white, luxury textured towels with extra hand towels at each sink -- scented reeds or scented candles, glass jars filled with cotton balls or Q-tips and chrome soap dispensers at the ready.
- Step Seven: Impress. Likewise treat your master bedroom like a luxury hotel suite featured in the movies. Include fluffy pillows and shams to match a thick duvet or quilt and stack some novels on a tray. Purchase a ceiling height plant to add perceived height and life to the room. If there is space, set up an armchair and reading light or a sofa to bring in coziness. Remove personal photographs.
- Step Eight: Organize. Clear the set. Remove the clutter. Put in well-designed closets and organize this area. Closets should look good and smell good, not musty. Rack or drawer your shoes and house other accessories in matching wicker baskets. Leave as little as possible on the floor. Add cedar blocks for scent and invest in matching hangers to project a lifestyle of success.
- Step Nine: Entertain. Add sound track. iPod music to wireless speakers. Install a plasma TV tuned to an eye-catching, replaying, high-density disc of panoramic scenes. You want to present your home as modernized and updated as possible.
- Step Ten: Dramatize. Add a subplot of square footage with dramatic effects -- mirrors in small areas, focused furniture positions, large bouquets of fresh flowers. Turn on all floor and table lamps for spotlighted living.
Stage from the floor up - and expect success!!
A Short Sale’s Long Journey Started by Paula Mayes and Debbie Osborn - Posted October 24, 2008 9:25pm
By Mary Ellen Podmolik
Oct. 24, 2008-With home values falling and a rough economy denting people’s wallets, it doesn’t take much for a homeowner to get underwater on a mortgage, owing more on the loan than the home is worth. Toss in a personal dilemma or two and the situation can become even bleaker.
During the year’s second quarter, one in seven homeowners, regardless of when they bought, had negative equity in their homes, according to Zillow.com. The statistics were worse for people who bought their homes during the market’s peak in 2006; 45 percent of those homeowners were upside down.
Kenneth Baldwin is one of those statistics, and it took him months to decide that it was better to walk away from his home with his dignity and credit-worthiness relatively intact than to continue struggling to keep it.
In July 2006, with a good credit history but no down payment to make, the then-42-year-old bought a $236,500 three-bedroom, bi-level home in Lake in the Hills, Ill., for himself and his fiance. He received an interest-only 80/20 loan. An 80/20 loan is typically two loans-a primary loan for 80 percent of the value of your home, and a secondary loan, sometimes called a piggybank loan, in lieu of a down payment that covers the remaining 20 percent at a much higher interest rate than the first.
Then his relationship soured and the terms of the loan reset. Instead of a $1,800 monthly payment covered by two incomes, Baldwin had to fund a monthly payment of $2,200 by himself. He tried to make it work, and found himself stressed when he couldn’t make a payment.
He also went on short-term disability from his job for eight weeks, and his lower income during that time forced him to break into his 401(k) savings to cover the mortgage payment.
“I couldn’t swing it anymore,” Baldwin said. “It got way out of hand. My savings were totally drained. I was working two jobs. It was nuts.”
By the spring, he’d had enough of the stress and decided to sell his home, with his lender’s permission, for less than the amount he owed on it in a short sale. With that decision, he joined plenty of other delinquent borrowers whose homes are listed for sale at a discount and carry the “lender approval required” caveat.
Despite what can be a time-consuming approval process, the transactions have become an increasingly popular option.
“It’s sad to say, but this is where things are going,” said Eric Booth, an agent with Century 21 MB Real Estate in Chicago. “The hardest thing is finding buyers who are patient. I don’t think I’d be able to wait around for two, three, four months and not know (when) it’s going to happen.”
Short sales are being considered by all types of homeowners in all income ranges who either bought their house during the market’s zenith or bought it a decade ago but in recent years pulled out equity from their homes.
“These are people who had the ability to pay for a certain amount of time and are running out of the ability to do it,” said Marc Shudnow, an agent at Re/Max 1st Class in Skokie, Ill. “Because the value of the home has gone down, they don’t have the ability to sell. These are people that in an upswing market could have gotten out of their homes. They’ve got to be able to come to the table with a check (to pay off the lender). If the market was going up, they might be in a position to come up with the funds.”
In May, Baldwin’s lender, IndyMac Bank, agreed to let him sell his house for $214,000, forgiving $49,659.60 of the loan. The transaction still will dent his credit record but nowhere to the extent it would have if he had let the house lapse into foreclosure. After the closing, Baldwin received a $5,000 check as a sort of “thank-you” from the lender.
“I did not feel good about myself,” Baldwin said of having to resort to the short sale. “I do have pride in myself and it made me feel like I was ripping off the bank. After it was all over, it was like this was probably a better thing for the mortgage company than me going to foreclosure and they don’t get any of their money back.”
Baldwin, who still lives in Lake in the Hills but now as a renter, hopes to again own his own home, but the next time he plans to be better prepared.
“I’ve learned a lot from my mistakes,” he said. “I don’t know how I ever was approved in the first place.”
© 2008, Chicago Tribune.
Distributed by McClatchy-Tribune Information Services.
Don't Forget the Closets! Started by Paula Mayes and Debbie Osborn - Posted October 30, 2008 2:46pm
Walk-in closets and roomy pantries are a necessity for many of today’s home buyers, who have lots of stuff and need a place to store it. So when your listing is lacking in storage space, you have a big challenge to overcome in order to maximize buyer appeal.
You’re most likely to encounter small storage areas in older homes, condominiums, and lofts. In many cases, the problem is compounded by cluttered living areas, as items that would normally be kept out of view become part of the décor.
“We’re a consumer society, and we have more stuff than ever before,” says professional organizer Barry Izsak, owner of Arranging It All in Austin, Texas. “Twenty or 30 years ago, people lived with less. They didn’t have three sets of dishes and 15 pairs of black shoes.”
But even tiny closets and other storage problems are surmountable after you get the sellers’ cooperation. Start by explaining to your sellers that all of their hard work purging and organizing will give them a head start on packing for the move — and will go a long way in winning over potential buyers, says Izsak, a former president of the National Association of Professional Organizers.
Izsak suggests telling sellers: “If a closet is packed to the gills, it’s only going to draw attention to how small it is. The smartest thing you can do is weed through what you have so the closets look ample, not overflowing.”
Apply the Two-Thirds Rule
Whether you’re facing a jam-packed closet in the bedroom, bathroom, or kitchen, you should ask sellers to sift through their belongings and clean out everything that’s not used regularly. “A rule of thumb is to have closets no more than two-thirds full,” says Terrylynn Fisher, CRS®, GRI, a broker with Diablo Realty in Walnut Creek, Calif.
Fisher, who’s also a trained staging expert, says prospective buyers should be able to look inside a closet and think: “I have more stuff than this. But there is extra room in the closet, so surely my things will fit.”
Bedroom closets, which can make or break a sale, need special attention when they’re on the small side. That means removing clothes, shoes, and bulky jackets that are out of season or worn only on formal occasions. “It’s a fact that most people wear 20 percent of their clothes 80 percent of the time,” Izsak says.
But sometimes it’s not just clothes and shoes clogging up a closet. Ramona Creel — a professional organizer in the Washington, D.C., area who has worked with home owners and real estate practitioners to get homes in shape for sale — says purses, hats, and sports equipment also are commonly misplaced in bedroom closets — making the space seem smaller than it really is.
Box It Up, Move It Out
If the extra items can’t be moved to an emptier closet in the home, they should be packed away in labeled storage boxes, which can be neatly stored under the bed, in the garage, or in a basement. But if these options aren’t feasible, which often is the case in condos, consider doing what Fisher encourages her sellers to do: rent storage space.
The cost of storage is usually well worth the improved appearance of closets and other cluttered areas of the home, she says.
What if sellers have weeded out clothes they don’t wear and closets are still packed? Make sure drawer space, hanger space, and shelving in the bedroom are being used wisely, Izsak says. Jeans and tee-shirts that are hanging in the closet are prime candidates for moving to the drawers — if there’s space.
Sellers also can consider buying an inexpensive closet organizer that can double a closet’s capacity. Many discount stores and online retailers sell rods for less than $20 that hang from the existing closet rod and create a second level of hanging space.
Declutter Kitchens, Baths, and Beyond
You can encounter closet challenges in virtually any room of a house. In each instance, follow the same advice given for bedroom closets: clear out the items that aren’t used often and box them up for storage, either on-site or off-site.
In the kitchen, have sellers pack up their little-used pots, pans, and other cooking utensils that fill up valuable cabinet space. Non-perishables can be donated to a local food bank or stored in boxes in a less conspicuous part of the house. Pot racks are a viable option for some, but not for all. “You have to have nice-looking pots,” Fisher says. Otherwise, they can work against you.
For overstuffed bathroom closets and shelves, sellers should remove extra towels and toiletries. If a bathroom lacks a closet or shelf space, you must find innovative ways to make sure sparse storage isn’t the first thing a potential buyer notices. Fisher has placed rolled-up towels in iron wine racks, while Iszak relies heavily on decorative baskets to group small items.
“It looks pretty to the eye, but it serves a very functional purpose,” Izsak says.
An excess of toys can be a big problem in kids’ closets. Under-the-bed trundles can store toys out of sight, as can attractive storage bins and toy chests — which can double as benches or tables in the bedroom or playroom. Parents can work with their kids to cut down on the number of toys in the room by donating them to charity or boxing them up.
Details That Make a Great Impression
Your next task is to attend to details that make a storage area go beyond looking ample to truly shine. Experts say it helps to paint the inside of closets a bright, neutral color and to clean the lighting fixtures so the space won’t appear dark and dingy.
Creel, who runs the Web site OnlineOrganizing.com, says quality hangers also improve the look. “It’s amazing what a difference consistently sized and shaped hangers can make,” she says.
Toss out the wire hangers and put those big bulky suit hangers in storage, Creel says. Instead, use plastic tubular hangers, which can be purchased in bulk from almost any discount retailer. Izsak suggests taking it a step further by grouping similar clothing items together and facing the same direction.
If a seller decides to empty out closets entirely before showings, it’s smart to add a few decorative touches by hanging a dress and placing a hat box on the top shelf, Fisher says. Just as it’s smart to make sure closets are no more than two-thirds full, it’s also important that they’re not completely barren.
Always Think Creatively
With every home you list, you will face a unique situation that calls for a unique response. You’ll find that what works for one closet may not work for another closet. And some sellers surely will be harder to motivate than others.
One thing is certain: it’s always better to show off a home’s closets in their best light — even if they’re small — than it is to act as if the storage space is a downside of a property. As popular as walk-in closets are, some buyers may not be put off by smaller storage spaces.
As is the case in any other room of the house, if a small closet is “too cluttered and too personalized, buyers won’t be able to picture their belongings in your space,” Fisher says.
But by putting the best face on any small space, you should be on track for a successful home showing.
Kelly Quigley is online editor of REALTOR® magazine. She can be contacted at kquigley@realtors.org.