We’re in the thick of autumn now, with Thanksgiving just days away. That means it’s time to start considering how to best showcase your home before the guests arrive.
One of the cheeriest bits of fall is the shifting colors that bring a canopy of rustic hues to a walk through the neighborhood. You can bring that cozy feeling inside yourself with some golden-dipped creativity.
Gilded Pears – Use real or fake pears, whichever you prefer, spray paint gold, and allow them to dry completely. You can add little flags to the top if you’re really feeling crafty.
Magnolia Wreath – Collect some Magnolia branches and use a wreath frame as a base. Spray paint the green side of each leaf with gold and then assemble using wire. It’s not as complicated as it looks!
Dipped Pinecones – First, you’ll want to make sure your cones are clean and dry. Apply gold leaf adhesive using a foam brush; deciding how much you add will determine how much of the cone is covered in gold. After they dry, consider gold leafing the cone’s scales. Wrap it around the cone and use a clean foam brush to rub it into the adhesive. Then give it a light spray with sealant and allow them to dry.
Gold Acorns – Hand pick your acorns, clean, and oven-dry them to make sure they are pest free. Paint them gold and then add a layer of clear shellac for a shiny look. Lastly, you’ll want to use a hot glue gun to attach the caps since they naturally fall off after the acorns dry. You can use these as filler in a glass vase or simply scatter them on a tabletop.
Shimmering Maple Garland – All you’ll need is a bag of artificial leaves, bought at any craft store, some Elmer’s glue, glitter, and string. Use a paintbrush to apply glue to each leaf and sprinkle lots of glitter over them. Let the glue set, then shake off the excess glitter, punch a hole at the top and attach a ribbon. Tie them all to a large strand and voilà, a perfect garland for the holidays.
Petite Pumpkins – If you are still head over heels for pumpkins, then using small ones for place cards will add some spice to your table. Tape each pumpkin halfway with painters tape, choose a design with horizontal, diagonal, or however you want! Next paint the bottom portion with gold craft paint (may require multiple layers) and with the last layer still wet, generously sprinkle gold glitter over the painted half. After your pumpkin is dry and you’ve shaken off the excess glitter, wrap beading foil tightly around the stem. Leave a little extra at the end for you to bend for your place card.
Find these and more decor ideas on our Pinterest Board, “A Gold Thanksgiving.”
The month of November brings the end to daylight savings time, for most of us anyway, and the start to the holiday season. Don’t be left in the cold, jumpstart your preparations with this quick checklist.
Check Your Fire Safety System
Test your smoke alarms and CO detectors to make sure they’re in working order. Locate your fire extinguisher and be sure the gauge shows that it has enough pressure. If it isn’t already stored in or near the kitchen, re-locate it closer to the oven for quick action should Thanksgiving dinner go up in flames.
Clean Your Garbage Disposal
Don’t let a stinky garbage disposal ruin your appetite, keep it smelling fresh with a few pieces of lemon rind and some ice cubes. The lemon cleans and deodorizes the odor causing bacteria and the ice scrapes away any debris, as well as sharpen the blades.
Check and Repair Other Plumbing Issues
Run the water in each sink to determine if it’s draining properly.
If your bathroom sink is not draining quickly, a great natural way to clear debris, with ingredients that you likely already have in the house, is to put ½ cup of baking soda down the drain, followed by ½ cup of vinegar, then plug the drain and let it sit for an hour. When you unplug the drain, pour boiling water down until it drains quickly.
Send a snake down your tub drain, then add a hair trap to each drain to prevent future blockage, especially when you have guests over for the holidays.
For a slow kitchen drain, the likely cause is a build up of fat, oil, or grease (FOG drain clog). The best way to clear this kind of clog is with 2 liters of water and a few tablespoons of dish washing detergent. Pour slowing and keep pouring until the drain is cleared.
Pull Out Your Winter Essentials
For those of you in cold climates, get out the shovels and replenish the ice-melt bucket before the snow and ice hit this season. Don’t get caught in the storm, make sure they’re easy to access or easy to pull out when the weather forecast calls for below freezing temperatures.
It’s also a good idea to get out your snow gear and toys. Don’t miss an opportunity to play in the snow because you can’t get to your shed to pull out your snow boots, gloves, or sled!
Check and Replace Floor Protectors
Prevent damage to your floors by checking any pads on your chair legs as well as the rug mat.
Make sure the pads on your chairs, sofas, and tables are intact so when you move them, they won’t rub and scuff or dent flooring. Lift the rug to double check that the rug mat isn’t causing damage to the floor as well. Sometimes, the adhesive can stick to the floors, leaving a residue that’s almost impossible to clean, this is especially important on cement floors.
Prepare the Guest Bedroom
Has it been a while since anyone, besides the dog or cat, has slept in the guest bed? This is a great time of year to wash the sheets and clean the room in preparation for holiday guests. And don’t forget the cobwebs in the corners! Organize and re-stock the closets so your guests can easily access more blankets and towels during their stay.
Once you’ve completed your November checklist, you can sit back with your hot apple cider and know that you’re ready for the holiday season.
Appraisals are used as a reliable, independent valuation of a tract of land and the structure on it, whether it’s a house or a skyscraper. Designed to protect buyers, sellers, and lending institutions, appraisals are an important part of the buying/selling process.
Below, you will find information about the appraisal process, what goes into them, their benefits and some tips on how to help make an appraisal go smoothly and efficiently.
Appraisal value vs. market value
The appraiser’s value is determined by using a combination of factors such as comparative market analyses and their inspection of the property to determine if the listing price is typical for the area.
Market value, on the other hand, is what a buyer is willing to pay for a home or what homes of comparable value are selling for.
If you are in the process of setting the price of your home, you can gain some peace-of-mind by consulting an independent appraiser. Show them comparative values for your neighborhood, relevant documents, and give them a tour of your home, just as you would show it to a prospective buyer.
What information goes into an appraisal?
Professional appraisers consult a range of information sources, including multiple listing services, county tax assessor records, county courthouse records, and appraisal data records, in addition to talking to local real estate professionals.
They also conduct an inspection. Typically, an appraiser’s inspection focuses on:
- The condition of the property and home, inside and out.
- The home’s layout and features.
- Home updates.
- Overall quality of construction.
- Estimate of the home’s square footage (the gross living area “GLA”; garages and unfinished basements are estimated separately).
- Permanent fixtures (for example, in-ground pools, as opposed to above-ground pools).
After the inspection, the appraiser of a typical single-family home will create their report including their professional opinion on what the price of the home should be.
You might hear the lender ask for two reports, the “Sales Comparison Approach” and the “Cost Approach.” These two approaches use different methodologies to find the appropriate value of the home, and help the lender confirm the home’s price.
Who pays and how long does it take?
The buyer usually pays for the appraisal unless they have negotiated otherwise. Depending on the lender, the appraisal may be paid in advance or incorporated into the application fee; some are due on delivery and some are billed at closing. Typical costs range from $275-$600, but this can vary from region to region.
An inspection usually takes anywhere from 15 minutes to several hours, depending on the size and complexity of your property. In addition, the appraiser spends time pulling up county records for the values of the houses around you. A full report is sent to your loan officer, real estate agent, and/or lender in about a week.
If you are the seller, you won’t get a copy of an appraisal ordered by a buyer. Under the Equal Credit Opportunity Act, however, the buyer has the right to get a copy of the appraisal if they request it. Typically, the requested appraisal is provided at closing.
What if the appraisal is too low?
A low appraisal can present a problem when there’s a large difference between what you’ve agreed to pay and the appraisal price.
Usually, the seller’s agents and the buyer’s agent will respond by looking for recent sold and pending listings of comparable homes. Sometimes this can influence the appraisal. If the final appraisal is well below what you have agreed to pay, you can re-negotiate the contract or cancel it.
Where do you find a qualified appraiser?
Your bank or lending institution will find and hire an appraiser; Federal regulatory guidelines do not allow borrowers to order and provide an appraisal to a bank for lending purposes. If you want an appraisal for your own personal reasons and not to secure a mortgage or buy a homeowner’s insurance policy, you can do the hiring yourself. You can contact your lending institution and they can recommend qualified appraisers and you can choose one yourself or you can call your local Windermere Real Estate agent and they can make a recommendation for you. Once you have the name of some appraisers you can verify their status on the Federal Appraisal Subcommittee website.
Tips for hassle-free appraisals:
To ensure the appraisal process is smooth and efficient, provide your appraiser with the information and documents he or she needs to get the job done. The documents you will need include:
- A brief explanation of why you’re getting an appraisal
- The date you’d like your appraisal to be completed
- A copy of your deed, survey, purchase agreement, or other papers that pertain to the property
- A sketch of the property with the property’s dimensions. These are usually available online from the county assessors.
- If you have a mortgage, provide the information about your lender, the year you got your mortgage, the amount, the type of mortgage (FHA, VA, etc.), your interest rate, and any additional financing you have.
- A copy of your current real estate tax bill, statement of special assessments, balance owing and on what (for example, sewer, water)
- Tell your appraiser if your property is listed for sale and if so, your asking price and listing agency.
- If it’s a multiple offer situation, provide the appraiser with the other offers to prove the demand for the home.
- Any personal property that is included in the sale, like appliances and other fixtures.
- If you’re selling an income-producing property, a breakdown of income and expenses for the last year or two and a copy of leases.
- A copy of the original house plans and specifications.
- A list of recent improvements and their costs.
- Any other information you feel may be relevant.
By doing your homework, compiling the information your appraiser needs, and providing it at the beginning of the process, you can minimize unnecessary delays.
Podcasts are a growing medium as listeners search for new sources of entertainment and information. In 2018 there were about 550,000 podcasts, in 2019 there are more than 750,000. Listeners are growing too, an estimated 20 million more people in the U.S. are listening to podcasts this year as compared to2018.
This growth in audio entertainment inspired us to pull together a few of our favorite real estate podcasts. Whether you’re interested in investing in real estate, looking to make a move to a new home, or just want to know what’s happening in the market, here are our recommendations:
The Millennial Real Estate Investor
Find your niches in Real Estate with Dan Mackin and Ben Welch, who host experts with stories about their investing successes and challenges. Learn from the experienced guests on this show the many ways to get into investing and succeed at it.
Listen to Millennial Real Estate Investor wherever you get your podcasts (Icon linked):
Cash Flow Connection
If you’re drawn to the commercial side of real estate, Cash Flow Connections with host, Hunter Thompson, is an informative podcast that interviews leading investors, sponsors and managers. Learn about all the aspects of commercial real estate from all viewpoints to find the right fit for you.
Windermere’s Chief Economist, Matthew Gardner, was just interviewed about the state of the real estate market, and what to expect in the next recession (hint: it won’t be driven by housing). You can listen to that episode here.
Listen to Cash Flow Connection wherever you get your podcasts:
For Those About to Move
Windermere Home and Wealth
Host Brian Bushlach interviews business owners, local guides, and Windermere agents in each episode about different areas throughout the Western U.S. and what they have to offer to those who live or visit there. Learn about what’s attracting newcomers to the area, and what the local real estate market looks like. This podcast is sure to stir your wanderlust.
Listen to Windermere Home and Wealth wherever you get your podcasts:
Finding Home with 106.1 KISS FM
Join first-time home buyers, and radio personalities, Anthony and Carla Marie from 106.1 KISS FM, as they walk through the home buying journey with their Windermere agents. This podcast is both entertaining and informative as they ask the questions you’ve always wanted answers to. With their knowledgeable real estate agents by their sides, they’re taking you along as they get approved, look for houses, and even put an offer on a home.
Listen to Finding Home on iHeartRadio:
Hosted by National Association of Home Builders CEO Jerry Howard and Chief Lobbyist Jim Tobin, this podcast covers updates in the housing market and building industry across the nation. Learn from experts in the field about recent laws and the news of the industry.
Listen to Housing Developments wherever you get your podcasts:
Real Estate News with Kathy Fettke
This podcast is aimed at real estate investors who want to stay curren on the latest real estate news. Presented in bite sized episodes, listeners can learn about laws, regulations, and economic events that affect real estate and their local market.
Listen wherever you get your podcasts:
For more than 20 years, the benefits of staging a home have been well documented. Numerous studies show that staging helps sell a home faster and for a higher price. According to the National Association of REALTORS®, 88 percent of home buyers start their search online, forming impressions within three seconds of viewing a listing. When a home is well staged, it photographs well and makes the kind of the first impression that encourages buyers to take the next step.
Studies also indicate that buyers decide if they’re interested within the first 30 seconds of entering a home. Not only does home staging help to remove potential red flags that can turn buyers off, but it also helps them begin to imagine living there. Homes that are professionally staged look more “move-in ready” and that makes them far more appealing to potential buyers.
According to the Village Voice, staged homes sell in one-third less time than non-staged homes. Staged homes can also command higher prices than non-staged homes. Data compiled by the U.S. Department of Housing and Urban Development indicate that staged homes sell for approximately 17 percent more than non-staged homes.
A measurable difference in time and money
In a study conducted by the Real Estate Staging Association in 2007, a group of vacant homes that had remained unsold for an average of 131 days were taken off the market, staged, and relisted. The newly staged properties sold, on average, in just 42 days, – which is approximately 68 percent less time on the market.
The study was repeated in 2011, in a more challenging market, and the numbers were even more dramatic. Vacant homes that were previously on the market for an average of 156 days as unstaged properties, when listed again as staged properties, sold after an average of 42 days—an average of 73 percent less time on the market.
Small investments, big potential returns
Staging is a powerful advantage when selling your home, but that’s not the only reason to do it. Staging uncovers problems that need to be addressed, repairs that need to be made, and upgrades that should be undertaken. For a relatively small investment of time and money, you can reap big returns. Staged properties are more inviting, and that inspires the kind of peace-of-mind that gets buyers to sign on the dotted line. In the age of social media, a well-staged home is a home that stands out, gets shared, and sticks in people’s minds.
What’s more, the investment in staging can bring a higher price. According to the National Association of REALTORS, the average staging investment is between one percent and three percent of the home’s asking price, and typically generates a return of eight to ten percent.
In short, less time on the market and higher selling prices make the small cost of staging your home a wise investment.
Interested in learning more? Contact your real estate agent for information about the value of staging and referrals for professional home stagers.
Americans spend about 32 hours a week listening to music, and for Millennials that number is even higher. Since so many activities connected to our homes are enhanced by music, we want to fuel the joy and memories of those experiences through home-inspired playlists on our very own Spotify channel.
Check out Windermere’s new Spotify channel where you can find playlists for every aspect of what it means to be home. Cleaning house? Check. Hosting a dinner party? Check. Chilling on the front porch? We have tunes for that too, and more. We invite you to follow, share, and enjoy!
Start following the Windermere Spotify channel today!
Have you ever rented the unit in someone’s basement? Maybe your spouse’s mother moved into your “Mother-In-Law Unit” above your garage? Or have you ever travelled and stayed in a pool house for your stay? Commonly referred to as “Mother-In-Law” units, homeowners use these as a way to fill the space in their home and gain residual income, either from vacationers or long-term tenants.
The official terms for these units are Additional Dwelling Units (ADU) or Detached Additional Dwelling Units (DADU’s), and are defined as extra spaces in homes and on properties where someone can live completely independent of the main house.
These units can be almost anywhere on the property, but they are usually located in the basement, in the backyard, or above the garage. They have their own bathroom and kitchen facilities, and sometimes they share laundry with the main house.
Thinking of adding a unit to your home? Here are some benefits and risks, as well as important aspects to consider before you build:
Homeowners can maximize their investment by renting out the extra space to long-term tenants for short-term vacationers. These tenants can help pay off debt or create an extra stream of income to pay for other needs or wants.
Depending on several factors, including the size of the unit, the market in the area, and other factors, each homeowner should decide which option they are more comfortable with. These decisions should be made before they list the unit for rent to best market to the right audience.
An obvious risk is that when you open your space to a stranger, there’s a possibility that things might end poorly. Either the tenants could turn out to be untrustworthy, or unreliable, leading to a financial burden.
To minimize the risks, it’s a good idea to use an application process to check backgrounds and employment history as a tool to get to know the potential tenant. Make sure to adhere to the National Fair Housing Laws and your local regulations.
Things to Consider:
- What are the shared spaces?
- Would you be comfortable sharing those spaces, and potentially appliances, with a new person each weekend, or would you rather get to know the long-term tenant who would use those on a consistent basis?
- Rooms like the kitchen can be great for those who want to get more interaction from their vacation renters. However, sharing one bathroom between the homeowners and the visitors can be uncomfortable and risky.
- Would you be okay with a long-term renter using your laundry facilities? What kind of access would they need to the house in order to use those machines?
- What is the size of the ADU/DADU?
- Is it truly a space where someone could live, or would it be too tight to fit all the necessary appliances?
- Does the unit adhere to your local housing codes as a livable space?
- How close are the units and what noise level are you comfortable with?
- As a long-term landlord, tenants have the right to quiet enjoyment without the landlord barging into their space or controlling their activities. If the unit is in the basement and the tenant has friends or family over, that noise could permeate into your unit in the late hours of the night. A way to prevent this is to be sure to layout quiet hours and expectations before they sign the lease or make an agreement so that you and the tenant are on the same page.
- The same goes for the rules in the vacation rental listing. Managing expectations is the first way to create a relationship with the tenants, even those there for the weekend.
- What improvements are required to make the unit livable?
- Do you need to add a kitchen or a bathroom? What are the costs associated with those improvements and would the market-rate rental prices make up for those improvements? You might not get your money back within the year, but if you’re dedicated to making the space worth it to rent it out over the next few years, these improvements, and financial obligations are necessary.
- If these initial investments aren’t viable for your situation, it might be a good idea to look at other options to earn rent from your home, including adding roommates with whom you’re willing to share all the common spaces.
Whatever you decide, it’s important to be familiar with the rental market and regulations in both your local region and your neighborhood.
Do you have an ADU or DADU on your property? How do you use it? Let us know in the comments.
There’s nothing more exciting, rewarding, and fulfilling than buying a home. However, it’s a complex transaction; there are a number of steps along the path that can confuse, betwixt, and befuddle even the most seasoned buyers and sellers.
How can you avoid those potential pitfalls and common mistakes? Look to your real estate professional for advice and keep these guidelines in mind:
#1 Review your credit reports ahead of time
Review your credit report a few months before you begin your house hunt, and you’ll have time to ensure the facts are correct and be able to dispute mistakes before a mortgage lender checks your credit. Get a copy of your credit report from Experian, Equifax, and TransUnion. Why all three? Because, if the scores differ, the bank will typically use the lowest one. Alert the credit bureaus if you see any mistakes, fix any problems you discover, and don’t apply for any new credit until after your home loan closes.
#2 Get pre-approved
Before getting serious about your hunt for a new house, you’ll want to choose a lender and get pre-approved for a mortgage (not just pre-qualified—which is a cursory review of your finances—but pre-approved for a loan of a specific amount). Pre-approval lets sellers know you’re serious. Most importantly, pre-approval will help you determine exactly how much you can comfortably afford to spend.
#3 Know what you want
You and your real estate agent should both be clear about the house you want to buy. Put it in writing. First, make a list of all the features and amenities you really want. Then, number each item and prioritize them. Now, divide the list into must-haves and really-wants.
#4 Account for hidden costs
In addition to the purchase price of the home, there are additional costs you need to take into consideration, such as closing costs, appraisal fees, and escrow fees. Once you find a prospective home, you’ll want to:
- Get estimates for any repairs or remodeling it may need.
- Estimate how much it will cost to maintain (gas, electric, utilities, etc.).
- Determine how much you’ll pay in taxes monthly and/or annually.
- Learn whether there are any homeowner’s or development dues associated with the property.
#5 Get an inspection
Buying a home is emotionally charged—which can make it difficult for buyers to see the house for what it truly is. That’s why you need impartial third parties who can help you logically analyze the condition of the property. Your agent is there to advise you, but you also need a home inspector to assess any hidden flaws, structural damage or faulty systems.
#6 Evaluate the neighborhood and location
When house hunting, it’s easy to become overly focused on the number of bedrooms and bathrooms, the condition of the home and its amenities while overlooking the subtleties of the surrounding neighborhood. Take time to check crime reports, school options, churches and shopping. If schools are a key factor, do more than simply research the statistics; speak with the principal(s) and chat with the parents waiting outside.
#1 Avoid becoming emotional or sentimental about the sale
Once you decide to sell your house, it’s time to strip out the emotion and look at it as a commodity in a business transaction. If you start reminiscing about all the good times you had and the hard work you invested, it will only make it that much harder to successfully price, prepare, and market the home.
#2 Fix problems (or price accordingly)
Homes with deferred maintenance and repair issues can take far longer to sell and can be subject to last-minute sale-cancellations. These homes also often sell for less than their legitimate market value. If you simply can’t afford to address critical issues, be prepared to work with your agent to price and market your home accordingly.
#3 Don’t overprice your home (and/or refuse to negotiate)
Getting top dollar is the dream of every seller. But it’s essential that you let the market dictate that price, not your emotions or financial situation. Allow your agent to research and prepare a market analysis that factors in the value of similar homes in the area, and trust those results.
#4 Use quality photos
The vast majority of prospective buyers today search for homes online first. In order to make a good first impression, you need a wealth of high-quality photos of your home and surrounding grounds. You may also need to consider professional staging in order to position your home in the best possible light for prospective buyers.
The process of buying or selling a home can have plenty of twists and turns, but with some smart decision making, you can avoid the most common mistakes and pitfalls.
Click here if you would like to connect with an experienced real estate agent.
Congratulations on your new home! You made it through the arduous process that is buying a new home. Now it’s time to take on the task of moving in.
You did your research about the neighborhood and you feel like you know the home like the back of your hand. However, there are some things to do as you move in to protect your newest investment, and yourself, from the unknown variables in and around your home.
Change the locks garage door codes
Previous owners might have changed the locks, but they may not know who all has a key or a code to open your garage, especially neighbors who they trusted to watch their place while they were away. Changing the codes and locks on all the doors ensures that you have complete control over entry to your home
Check or Install Fire and Carbon Monoxide Detectors
If the home already has fire and carbon monoxide devices, make sure they are in working order by testing each one with the tester button. Keep a note of when to replace them as well.
If they don’t have them, install a device in each sleeping room, as well as common areas like the living room or kitchen. Hallways are a great place to cover multiple rooms with one detector as well.
Install a security system
Enjoy total peace of mind with a new security system. Meet with a consultant on the best ways to protect your home for a system that works best for you and your lifestyle.
There are also app-connected systems that you can set up yourself that notify you of movement on the cameras or doors and windows opening.
Meet the neighbors
Build a sense of community and get to know the lay of the land by knocking on neighbors’ doors to get to know them. Bring a small gift as a “thank you” for dealing with the moving trucks. This is a great initial step for figuring out who you can trust to watch things while you’re away should you need a helping hand in the near future.
These are just a few ideas on what you should do as soon as you move in. What are some things you do, or suggest to friends and clients on move-in day?
Welcome to the fall issue of Windermere Living! Are you a foodie who loves to travel? Inside this issue is an article about interesting destinations where you can enjoy edible, immersive experiences like making your own coffee on the Kona coast of Hawaii, or diving for clams in Cabo and cooking them with an executive chef.
If you’ve ever undergone a major home remodel, you know all too well how important it is to partner with the right architect. We explore that topic in this issue, along with some pro tips on how to match yourself up with the perfect architect for your project, a process that isn’t that different from dating.
Last but not least, there are more than 70 pages filled with homes for sale throughout the Western U.S. Whether you’re in the market for a country farmhouse or a high-rise condo, there’s a little something for everyone.
This is just a sampling of what you’ll find in this issue of Windermere Living; we hope you enjoy it!