Blogs • November 14, 2016

Prepare for Winter and the Holidays With This November Home Checklist

by Brady DenBleyker

With Thanksgiving approaching and the winter holidays just around the corner, there is a lot to look forward to (and prepare for) at this time of year. Batten down the hatches for winter weather and get a jump on holiday hosting prep, so you can relax and savor the many simple pleasures of the season, from big family dinners to walks in the crisp air outdoors.

November Checklist 1: Cummings Architects, original photo on Houzz

Get a jump on holiday prep. If you plan to host this holiday season, take a bit of time now to prepare a few things in advance. Launder and iron the fancy linens (roll up freshly ironed linens on old wrapping paper tubes to prevent wrinkles), drop off the kitchen knives for a professional sharpening or polish some silver — you’ll thank yourself later.

Replace floor protectors on chairs. Don’t let dining chairs do damage to your hardwood floors: Check their feet and add or replace floor-protecting pads if needed. Felt pads come in self-adhesive and nail-in varieties; if you’re using the self-adhesive type, be sure to clean the base of each chair foot thoroughly and allow it to dry before applying.

November Checklist 2: Anne Sneed Architectural Interiors, original photo on Houzz

Deep-clean bathrooms. Aim to schedule a deep cleaning of the bathrooms a week before entertaining, so that a quick surface wipe-down will be all you’ll need to get things looking spotless again on the big day. If you’re hosting Thanksgiving, goodness knows there are plenty of other things to worry about — like how you’re going to fit a turkey and five side dishes in the oven!

Check the sump pump. If you have a sump pump in your basement as protection in case of flooding, be sure to check it and make sure it is working properly before the rainy season really gets going, and repair or replace it as needed.

November Checklist 3: Bohler Builders Group, Inc., original photo on Houzz

Show some kindness to feathered friends. Nonmigrating birds can use some extra help when wild food becomes scarce and water sources freeze. Stock up now on birdseed so you can keep those feeders full, and consider providing a water source as well —refresh it daily to prevent mosquitoes.

Remove the last of the fall leaves. Aim to fit in one final raking and gutter-cleaning session once the last leaves have fallen — but before the first snow.

Inspect the home’s exterior and cover gaps. Cover any gaps you find around the exterior of your home that may be large enough for a mouse to enter —it doesn’t take much space for these little critters to sneak in. Cover exterior vents with hardware cloth, and attach door sweeps to the bottoms of exterior doors to stop furry creatures from squeezing in when the weather turns chilly.

November Checklist 4: Wright Design, original photo on Houzz

Stock up for winter. If you live in a region with cold, snowy winters, taking the time now to stock up on winter gear and supplies will mean less stress when that first big storm hits.

●Check snow shovels and ice scrapers; replace as needed.

●If you use a fireplace or wood stove, order firewood.

●Pick up a bag of pet- and plant-safe ice melt.

●Restock emergency kits for car and home.

●If you use a snow blower, have it serviced and purchase fuel.

●If your home has an emergency power generator, review safety standards (the American Red Cross has helpful tips) and check that it’s working properly.

Check paths, stairs and railings for safety. Slips and falls on ice and snow can happen anywhere, but they’re even more likely if the footing is uneven or a railing isn’t sturdy. Take a walk around your home’s exterior, paying special attention to walkways, stairs and railings, and make repairs as needed.

By Laura Gaskill, Houzz

Blogs • November 10, 2016

The Trump effect. How will it impact the US economy and housing?

by Brady DenBleyker

Posted November 9 2016, 3:30 PM PST by Matthew Gardner, Chief Economist, Windermere Real Estate

The Trump effect. How will it impact the US economy and housing?

Posted in Market News by Matthew Gardner, Chief Economist, Windermere Real Estate

The American people have spoken and they have elected Donald J. Trump as the 45^th president of the United States. Change was clearly demanded, and change is what we will have.

The election was a shock for many, especially on the West Coast where we have not been overly affected by the long-term loss in US manufacturing or stagnant wage growth of the past decade. But the votes are in and a new era is ahead of us. So, what does this mean for the housing market?

First and foremost I would say that we should all take a deep breath. In a similar fashion to the UK’s “Brexit”, there will be a “whiplash” effect, as was seen in overnight trading across the globe. However, at least in the US, equity markets have calmed as they start to take a closer look at what a Trump presidency will mean.

On a macro level, I would start by stating that political rhetoric and hyperbole do not necessarily translate into policy. That is the most important message that I want to get across. I consider it highly unlikely that many of the statements regarding trade protectionism will actually go into effect. It will be very important for President Trump to tone down his platform on renegotiating trade agreements and imposing tariffs on China. I also deem it highly unlikely that a 1,000-mile wall will actually get built.

It is crucial that some of the more inflammatory statements that President-Elect Trump has made be toned down or markets will react negatively. However, what is of greater concern to me is that neither candidate really approached questions regarding housing with any granularity. There was little-to-no-discussion regarding housing finance reform, so I will be watching this topic very closely over the coming months.

As far as the housing market is concerned, it is really too early to make any definitive comment. That said, Trump ran on a platform of deregulation and this could actually bode well for real estate. It might allow banks the freedom to lend more, which in turn, could further energize the market as more buyers may qualify for home loans.

Concerns over rising interest rates may also be overstated. As history tells us, during times of uncertainty we tend to put more money into bonds. If this holds true, then we may see a longer-than-expected period of below-average rates. Today’s uptick in bond yields is likely just temporary.

Proposed infrastructure spending could boost employment and wages, which again, would be a positive for housing markets. Furthermore, easing land use regulations has the potential to begin addressing the problem of housing affordability across many of our nation’s housing markets – specifically on the West Coast.

Economies do not like uncertainty. In the near-term we may see a temporary lull in the US economy, as well as the housing market, as we analyze what a Trump presidency really means. But at the present time, I do not see any substantive cause for panic in the housing sector.

We are a resilient nation, and as long as we continue to have checks-and balances, I have confidence that we will endure any period of uncertainty and come out stronger.

Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has over 25 years of professional experience both in the U.S. and U.K.

The Trump effect. How will it impact the US economy and housing?

The American people have spoken and they have elected Donald J. Trump as the 45^th president of the United States. Change was clearly demanded, and change is what we will have.

We are a resilient nation, and as long as we continue to have checks-and balances, I have confidence that we will endure any period of uncertainty and come out stronger.

Blogs • November 2, 2016

Western Washington Real Estate Market Update

by Brady DenBleyker

Western Washington Real Estate Market Update

Posted in Market News and Western Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate

ECONOMIC OVERVIEW

Annual employment growth in Washington State slowed somewhat in the third quarter of this year, but still remains well above the long-term average. Additionally, the jobs that are being created are primarily quality, high-paying positions, which is important for the health of our economy.

Unemployment in the state remains at levels that are somewhat higher than I would like to see, but this continues to be impacted by a growing labor force and modestly slowing job growth. I still expect to see the rate drop a little further as we move through the final quarter of the year.

HOME SALES ACTIVITY

There were 24,277 home sales during the third quarter of 2016—up by an impressive 7.9% from the same period in 2015, and 6.8% above the total number of sales seen in the second quarter of this year.
Skagit County saw sales grow at the fastest rate over the past 12 months, with transactions up by 25.6%. There were also impressive increases in home sales in Thurston, San Juan, Pierce, and Grays Harbor Counties. Sales fell slightly in Jefferson and Kittitas Counties.
Overall listing activity remains low with the total number of homes for sale at the end of the quarter 11.2% below that seen a year ago. That said, I’m happy to report that listings have been slowly trending higher in 2016.
I’ve been thinking about how sales can continue to rise while inventory remains so low. I believe this is due to an uptick in first-time buyers. These buyers have no home to sell, so they don’t add to the number of listings; however, they do cause sales to increase when they buy. This is a good trend to see!

HOME PRICES

As demand continues to exceed supply, we are continuing to see upward pressure on home prices. In the third quarter, average prices rose by a substantial 10.2% and are 3.2% higher than seen in the second quarter of this year.
The current rate at which homes are appreciating cannot continue, and I anticipate that we will see a “cooling” start to take place in 2017.
When compared to the third quarter of 2015, price growth was most pronounced in Lewis County. In total, there were nine counties where annual price growth exceeded 10% and prices were higher across the entire region when compared to a year ago.
Although supply levels are slowly starting to creep higher, we are still solidly in a seller’s market. Rising inventory levels should start to do a better job of meeting demand next year, which when combined with modestly higher mortgage interest rates, will see the region move closer toward becoming a balanced market.

DAYS ON MARKET

The average number of days it took to sell a home dropped by twenty-two days when compared to the third quarter of 2015.
All the counties that comprise this report saw the length of time it took to sell a home drop.
In the third quarter of 2016, it took an average of 52 days to sell a home. This is down from the 74 days it took in the third quarter of 2015, and down from the 67 days it took in the second quarter of this year.
King and Snohomish Counties remain the only two markets where it took less than a month to sell a home. Even though King County saw days on market rise slightly from 18 to 20, it remains the hottest market in the region.

CONCLUSIONS

This speedometer reflects the state of the region’s housing market using housing inventory, price gains, sales velocities, interest rates, and larger economics factors. For the third quarter of 2016, I am moving the needle very slightly toward the buyers. This is entirely due to the recent increase in inventory levels that I believe will continue through the rest of the year. That said, the region remains steadfastly a seller’s market.

Blogs • March 27, 2014

Spring Home Maintenance Checklist

by Brady DenBleyker

As winter ends, give your home a complete physical—inside and out—to ready it for those warm-weather months ahead.

This year, many parts of the country have enjoyed such a mild winter that even in the Northeast, spring weather seems

like it’s just around the corner—if it hasn’t arrived already.

Take advantage of the moderate temperatures to get a head start on what should be an annual spring home

maintenance routine.

EXTERIOR INSPECTION

“It’s good to do a walk-around of your property, especially after a storm,” says Curtis S. Niles, Sr., owner of

Armored Home Inspections, Upper Darby, PA, and president of the National Association of Home Inspectors (NAHI).

“Winter is tough on roofs and chimneys.” It can also take its toll on windows, walls, foundations, gutters and decks.

Roof. You don’t need to climb up there yourself; with binoculars and a keen eye, you can probably spot trouble.

Do you see any shingle-shift, suggesting that some fasteners may have failed and need replacing? Any cracked

or missing shingles? What about nail-pops? “We call them eyebrows,” Niles explains. “It’s when nails push the

tabs of the shingles up, allowing water to get in where those nails are coming through.” All will need to be

addressed to keep your roof at peak performance.

Chimneys. If you have a masonry chimney, check the joints between bricks or stones. Have any fallen out? Is

there vegetation growing out of them? Each signals water infiltration. Also, look for efflorescence—”a white

calcium-like deposit that indicates your masonry joints are no longer repelling water but absorbing it,” says Niles.

Consider re-sealing masonry with a clear, impermeable or water-resistant barrier material (like Thoroseal products).

Brush it on, small areas at a time; let it absorb for 15 minutes, then reapply—it may need a couple of applications.

Exterior Walls. Whether you have wood siding, stucco or brick, look for trouble spots, especially under eaves and

near gutter downspouts. Water stains normally indicate that your gutters are not adequately containing roof runoff.

If you have wood siding, check for openings, damaged areas or knots that have popped out, making way for

carpenter ants, woodpeckers and other critters that may nest in or burrow through.

Foundations. When inspecting the exterior of your home, be sure to examine the foundation from top to bottom for

masonry cracks. “Routine caulking by homeowners won’t do the job,” says Niles. “Hire a foundation specialist who

can employ a two-part epoxy injection system that will bond cracks chemically,” he adds.

Windows. Leakage around windows will admit warm summer air and let cooled indoor air escape, so be sure to

check that any caulking and weather stripping you have in place has remained intact. “A tight seal is the first line

of defense against air and water,” says Marty Davis, marketing manager, Simonton Windows, Columbus, OH.

If you experienced condensation inside the glass on double- or triple-glazed windows during the winter months,

the weather seal has been compromised, and either the glass or the window will need to be replaced.

Spring-clean your windows—inside and out—with a store-bought or homemade window cleaner (one cup rubbing

alcohol, one cup water and a tablespoon of white wine vinegar will work just fine) and either a squeegee or a soft cloth.

Never use abrasive cleaners or a high-pressure spray washer. You don’t want to scratch the glass or crack the

caulking around each unit. If screens were on all winter, remove and clean them with mild detergent. Lay them on a

dry surface, like a driveway to air-dry before putting them back on. “Never power-wash screens,” urges Davis,

“it could damage the mesh.”

INTERIOR MAINTENANCE

General Cleaning. Spring is a good time to clean areas of the house that often go neglected. Dust or vacuum

chair rails, window casings, tops of wall-mounted cabinets and ceiling fans. Launder or dry-clean fabric

draperies and use a damp cloth to clean wood and vinyl blinds. Vacuum upholstered furniture and mattresses

and consider renting a carpet cleaner—anything you can do to remove settled dust, mites, and allergens

will make for a cleaner, and healthier, home.

If you detect grease residue in the kitchen, consider washing cabinets, backsplashes and walls with warm

water and mild detergent. The same is true in the bathroom, where soap residue and fluctuations in heat and

humidity combine to create the perfect breeding ground for mold and mildew. While you’re cleaning tile,

look for areas of worn or missing grout, as these may lead to more serious water damage if not repaired.

Air Conditioning. Just as you readied your furnace for fall, now is the time to make sure that air conditioning

units are in good working order for the warmer months ahead. Change the filter, check hose connections for

leaks, and make sure the drain pans are draining freely. In addition, vacuum any dust that has settled on the

unit and connections; over time it can impact the air conditioner’s effectiveness. If you suspected problems

with the efficiency or performance of the unit last summer, now is the time to call in a professional to check it out.

Attics. Search for signs that indicate insects and critters have colonized. Also, search aggressively for mold,

which often takes the form of “gray or black blotches that look like staining,” according to Tim Gentry, vice

president of technical services, DaVinci Roofscapes, Kansas City, KS. Proper insulation and good

ventilation will deter mold growth in the attic, so take action now to prevent the problem from developing

in the warmer months ahead.

Basements. The basement—prone to dampness and insects—must be part of any thorough seasonal

maintenance effort. Dampness suggests higher than normal relative humidity, inadequate ventilation and

the need for a dehumidifier. Check the base of poured-concrete walls. “Cracks start from the bottom up,

not the top down,” Niles points out. “If there’s water penetration, it’ll show at the bottom of those cracks.”

And be sure to use a flashlight to examine exposed framing. “If you see even a quarter-inch or so of

tunneling on the wood,” says Niles, “call a pest control company immediately.”

Leaks. Spring is a good time to check for leaky faucets, clogged drains and sweaty pipes. Check under

the kitchen and bathroom sink to make sure connections on pipes and hoses are properly sealed, and

look for any wetness around the dishwasher that could signal an existing or potential problem. The same

is true of your laundry room; check washer machine hoses for cracks, bulges or dampness. The same is

true for hot water heaters, which may show sign of corrosion and leaks.

OUTDOORS

Lawns. Rake the lawn to remove any branches, debris and leaves that you might have missed in the fall;

if left, they can suffocate the grass beneath. During the winter, soil compaction, along with chemical

changes altering your soil’s PH, may have left your lawn vulnerable to weed growth and other issues.

Even if you can’t see weeds, they are more than likely waiting for optimum conditions to propagate. If you

want to prevent them from germinating, consider an organic herbicide; fertilizers are better suited to the fall.

Make sure outdoor water systems—pipes, faucets, and in-ground sprinkler systems—are in working order.

Once the ground thaws completely, start preparing new garden beds for summer plants. And take stock of

your garden tools and lawn-maintenance equipment, including lawn mowers, trimmers and hoses.

Decks and Patios. Look for warped, loose or splintered boards, and do a good sweep to remove any leaves

and debris accumulated in the space between boards. “Whether it’s wood, plastic or composite, a deck

should be cleaned every year to extend its life,” says Chuck Harris, owner, Custom Lumber Manufacturing Co.,

Dothan, AL. If the finish on your wood deck is faded or worn, now is the time to clean, stain, and reseal it. If you

have composite decking, follow manufacturers’ recommendations on seasonal care. The same is true for wood

and composite fences, pergolas, trellises and other structures. If you have a stone patio, a simple hose down

provide be all the maintenance required (unless you detect moss or staining, in which case a more serious

cleaning may be necessary).

Outdoor Furniture. If you stored your lawn furniture for the winter, bring it outdoors and give it a hose rinse,

or wash it with a mild detergent. For metal furniture, check for signs of rust or paint erosion; a simple remedy

of spray enamel will prevent further damage from sun, rain and humidity in the months ahead.

Grills. If your gas grill has remained idle over the winter months, check burner jets for clogs and obstructions,

and be sure that gas hoses and connections are sound and secure. You’ll also want to check for propane.

For charcoal grill owners, make certain your grill is clean of ash and free of grease residue. It’s a good habit

to adopt throughout the grilling season, not just in the spring.

By Merv Kaufman

Blogs • December 19, 2013

BIG NEWS: Rates are going up in 2014!?

by Brady DenBleyker

As you may have heard, the Federal Open Market Committee and Federal Reserve Chairman Ben Bernanke announced a change to their current bond buying program today.

Prior to this announcement the FED had been purchasing $85 Billion worth of US Treasuries and Mortgage Backed Securities every month. The announcement today indicates a reduction or “taper” of that purchasing structure by $10 Billion per month. This DOES NOT mean that the FED will STOP subsidizing rates anytime soon, but it does signal an intention to wind down the support program over time.

Rates have moved up about .25% over the last couple of weeks in anticipation of such a move so the immediate impact to rates should not be overly negative from here. That being said, we should expect higher mortgage rates in 2014 as the economy continues to improve.

Fannie Mae and Freddie Mac have also announced increases to their delivery fee to lenders effective in April of 2014. That will cause a rate increase of around 0.14. Due to all of these factors, many economists are targeting a 30yr fixed conventional rate of 5.25% – 5.5% by the end of 2014.

Courtesy of Shelly Varner & Joel Senti

Windermere Mortgage Services

Blogs • November 14, 2013

Preventative Home Maintenance: Fall checklist

by Brady DenBleyker

Preventative Home Maintenance: Fall checklist

Fall is an ideal time to tackle maintenance projects both inside and outside. Here are a few ideas to get you started:

Control where the water goes: : Water in the wrong place can do a lot of damage. Start by ensuring that gutters and downspouts are doing their job. (Don’t attempt this talk yourself if you have a two-story house with a steep roof; hire a professional instead.) If your home is surrounded by deciduous trees you may need to clean out your gutters a few times a year, especially in the fall. Check to make sure your gutters are flush with the roof and attached securely, repairing any areas that sag or where the water collects and overflows. Clean out the gutters and downspouts, checking that outlet strainers are in good shape, and are firmly in place. Finally, check that your downspouts direct water away from your house, not straight along the foundation.

If you haven’t already, you may want to consider installing gutter guards. Gutter guards create a barrier- so water can get through to your gutters, but debris cannot, limiting gutter buildup (and the time you spend cleaning out your gutters). There are DIY installation kits available or you can always hire a professional to install a premium system.

If you have a sump pump under your house, now is a good time to test it. Run a hose to be sure draining water travels directly to the pump (dig small trenches if needed), and that the pump removes the water efficiently and expels it well away from the foundation. For more information about how sump pumps work go to howstuffworks.com.

When it comes toleaks, early detection is crucial: Check your roof for leaks. The best opportunity to catch leaks is the first heavy rain after a long dry spell, when roofing materials are contracted. (You can also simulate rain with a gentle spray from a hose.) Check the underside of the roof, looking for moisture on joints or insulation. You can mark these spots on the underside, and then- unless you have a lot of experience, have a roofing specialist locate and repair the leak. Don’t wait for leaks to show up on your ceiling. By then, insulation and sheet rock have been damaged and you could have a mold problem too.

Just say no to rodents: Rodents are determined and opportunistic, and they can do tremendous amounts of property damage (and endanger your family’s health). As temperatures cool, take measures to prevent roof rats and other critters from moving in. Branches that touch your house and overhang your roof are convenient on-ramps for invaders, so trip back branches so they’re at least 4 feet from the house. If you do hear scuttling overhead or discover rodent droppings in your attic, crawl space or basement, take immediate action. The website www.thisoldhouse.com has several helpful articles on the topic.

Maintain your heating and cooling systems: Preventative maintenance is especially crucial for your home’s heating and air-conditioning systems. Fall is a smart time to have your systems checked and tuned up if necessary. Don’t wait for extreme temperatures to arrive, when service companies are slammed with emergency calls. Between tune-ups, keeps your system performing optimally by cleaning and/or replacing air filters as needed.

If you have a wood-burning fireplace, a professional inspection and cleaning will help prevent potentially lethal chimney fires and carbon monoxide poisoning. Even if you don’t use your fireplace often, always keep a supply of dry firewood or sawdust-composite logs so you have a backup heat source in an emergency.

Catch some air: Insulating your home is a cost-efficient investment, whether you’re trying to keep the interior warm in the winter or cool in the summer. Aside from more major improvements like energy-efficient windows and insulation, there are some quick fixes that do-it-yourselfers can tackle. If an exterior door doesn’t have a snug seal when closed, replace the weather stripping; self-adhesive foam stripping is much simpler to install than traditional vinyl stripping. If there is a gap under the door (which can happen over time as a house settles), you may need to realign the door and replace the vinyl door bottom and/or door sweep. Air also sneaks inside through electrical outlets and light switches on exterior walls. Dye-cut foam outlet seals are a quick and inexpensive solution; simply position them behind the wall plates.

Posted in Living by Tara Sharp

Blogs • August 26, 2013

How to Choose the Right Home

by Brady DenBleyker

How to Choose the Right Home

As the market starts heating up and real estate becomes a popular dinner party topic again, it’s easy to get so caught up in the fever of searching and offers that we forget why we were buying a home in the first place. When you’re hearing about “inventory shortages” and “bidding wars” it’s important not to fall into the trap of settling, buying for the wrong reasons, or even overspending.

When is the “Right Time to Buy”?

I constantly see information out there telling buyers and sellers that it is the “right time” or the “wrong time” to buy or sell a home. Of course you should take things like rising interest rates or rising or falling prices into consideration, but the most important thing to ask yourself is, “Is it the right time for me?” Are you ready to stay in one place for a while? Are you feeling like your employment position is stable? How about your relationship? If you’re barely making ends meet with a job you hate and your relationship with your partner is on the rocks, it’s probably not the time to buy, no matter what interest rates are doing. Having enough money to comfortably afford your home is more important than buying when everyone else is.

What are your values?

Why do you want to buy a house, anyways? Do you imagine yourself spending your weekends working in your yard every weekend? Is your idea of fun tearing apart a bathroom and putting it back together piece by piece? Or are you more interested in a lifestyle, living close to your work and walking to the grocery store? If you love going out with your friends or traveling for long periods, buying a house with extensive landscaping or an endless list of things needing to be remodeled and upgraded is probably not a good fit. Know what kind of life you want to live in your home BEFORE you find a place, and stay true to that as you search.

Find a REALTOR who gets you.

When you’re looking for an agent to help you find a home, keep looking till you find someone you like and trust. Buying a home can be hugely stressful, and being able to have open and honest conversations with an agent who gets you will make the whole process much easier.

Everyone is happy that the real estate market is in recovery and buying a house is an amazing experience. Just make sure you know what you want your home to be FOR YOU and stay true to your own personal American Dream.

by Marguerite Giguere

Blogs • June 25, 2013

Increasing Your Home’s Curb Appeal

by Brady DenBleyker

First impressions are extraordinarily powerful, and your house is no exception. When others approach it for the first time, does it strike them as clean, inviting and well maintained? In real estate, these all-important qualities are known as “curb appeal.” If you plan to put your home on the market, or simply want it to look its best, here are some ideas that will ensure your home makes a positive first impression.

Clean, clean, clean

Start by cleaning and tidying your driveway, walkway, front yard, and front porch. Pressure washing can make concrete and aggregate surfaces look like new; pressure washers are also ideal for cleaning stains from gutters and removing moss from patios and decks.

In your yard, keep the grass neatly trimmed, and edge your paths and walkways for a meticulously groomed look. Keep the beds weed-free, and trim trees and bushes as needed. Remove and replace any dead or struggling plants. If you are selling your home, it’s a smart investment to have a professional gardener make things picture-perfect, and then you can maintain the look yourself.

On your front porch, remove any cobwebs and sweep away all traces of dirt, leaves and pet hair. Clean your light fixtures and bulbs, and be sure your windows are sparkling clean. Wipe down your front door and polish your door hardware.

Repair and update

Fix or replace loose latticework, gently tap down nail heads that have worked loose from your siding or decks, and ensure that downspouts are attached and secure. It might make sense to replace and outdated front door, or at least five it a fresh coat of paint and update the handle and kick plate. If your exterior light fixtures were fashionable 25 years ago, they’re undoubtedly out of date now. Visit a home-improvement store and choose something more contemporary.

If your exterior paint is in good shape, light pressure washing will make it look almost new, and a fresh coat of pain on just the trim and shutters can provide a quick facelift. On the other hand, shabby paint dramatically devalues a home. If repainting is necessary, use a mainstream color that fits in with your neighborhood.

Keep it simple, clean and classic

If your home is on the market, be ruthless with clutter. Remove anything that distracts from the home itself, including children’s toys, bicycles, garden hoses and tools. You want your home to appeal to as many people as possible. When potential buyers step onto your property, they need to be able to imagine it as their own.

Create a welcoming entry

Your front porch and/or entryway provide an opportunity to make visitors feel comfortable and welcome. Beautiful pots overflowing with flowers appeal to everyone, and a trickling water feature can create a serene atmosphere. And if there’s room, a small table and chairs on the front porch are very inviting. Finally, if your doormat has worn out its welcome, it’s time to purchase a new one.

Get a fresh point of view

It can be surprisingly difficult to view your home objectively and to see it as others do. One helpful trick is to shoot photos or video; for most people, this technique helps them see their home from a fresh perspective. By all means, ask your agent for a professional opinion. He or she can give you a checklist of recommended tasks that will strengthen your home’s curb appeal.

There’s only one chance to make a first impression

Curb appeal is more important than you might imagine. We’ve seen buyers make a snap judgment before they step out of the car. If it’s a negative first impression, that’s hard to overcome no matter how nice the home is inside. One the other hand, when a home is charming and cleaned and cared for on the outside, buyers can be so positively affected that once they’re inside, they are less critical of an outdated kitchen or a small bathroom. Strong curb appeal can help cement a positive opinion.

If you have questions about getting your home ready to sell, or are looking for an agent in your area we have professionals that can help you. Contact me at brady@windermere.com

Posted by Tara Sharp

Blogs • June 25, 2013

New Features vs. Character

by Brady DenBleyker

We are often asked, “Which is the better buy, a newer or older home?” Our answer: It all depends on your needs and personal preferences. We decided to put together a list of the six biggest differences between newer and older homes:

The neighborhood

Surprisingly, one of the biggest factors in choosing a new home isn’t the property itself, but rather the surrounding neighborhood. While new homes occasionally spring up in established communities, most are built in new developments. The settings are quite different, each with their own unique benefits.

Older neighborhoods often feature tree-lined streets; larger property lots; a wide array of architectural styles; easy walking access to mass transportation, restaurants and local shops; and more established relationships among neighbors.

New developments are better known for wider streets and quiet cul-de-sacs; controlled development; fewer aboveground utilities; more parks; and often newer public facilities (schools, libraries, pools, etc.). There are typically more children in newer communities, as well.

Consider your daily work commute, too. While not always true, older neighborhoods tend to be closer to major employment centers, mass transportation and multiple car routes (neighborhood arterials, highways and freeways).

Design and layout

If you like Victorian, Craftsman or Cape Cod style homes, it used to be that you would have to buy an older home from the appropriate era. But with new-home builders now offering modern takes on those classic designs, that’s no longer the case. There are even Modern Log Homes available.

Have you given much thought to your floor plans? If you have your heart set on a family room, an entertainment kitchen, a home office and walk-in closets, you’ll likely want to buy a newer home—or plan to do some heavy remodeling of an older home. Unless they’ve already been remodeled, most older homes feature more basic layouts.

If you have a specific home-décor style in mind, you’ll want to take that into consideration, as well. Professional designers say it’s best if the style and era of your furnishings match the style and era of your house. But if you are willing to adapt, then the options are wide open.

Materials and craftsmanship

Homes built before material and labor costs spiked in the late 1950s have a reputation for higher-grade lumber and old-world craftsmanship (hardwood floors, old-growth timber supports, ornate siding, artistic molding, etc.).

However, newer homes have the benefit of modern materials and more advanced building codes (copper or polyurethane plumbing, better insulation, double-pane windows, modern electrical wiring, earthquake/ windstorm supports, etc.).

Current condition

The condition of a home for sale is always a top consideration for any buyer. However, age is a factor here, as well. For example, if the exterior of a newer home needs repainting, it’s a relatively easy task to determine the cost. But if it’s a home built before the 1970s, you have to also consider the fact that the underlying paint is most likely lead0based, and that the wood siding may have rot or other structural issues that need to be addressed before it can be recoated.

On the flip side, the mechanicals in older homes (lights, heating systems, sump pump, etc.) tend to be better built and last longer.

Outdoor space

One of the great things about older homes is that they usually come with mature tress and bushes already in place. Buyers of new homes may have to wait years for ornamental trees, fruit trees, roses, ferns, cacti and other long-term vegetation to fill in a yard, create shade, provide privacy, and develop into an inviting outdoor space. However, maybe you’re one of the many homeowners who prefer the wide-open, low-maintenance benefits of a lightly planted yard.

Car considerations

Like it or not, most of us are extremely dependent on our cars for daily transportation. And here again, you’ll find a big difference between newer and older homes. Newer homes almost always feature ample off-street parking: usually a two-care garage and a wide driveway. An older home, depending on just how old it is, may not offer a garage—and if it does, there’s often only enough space for one car. For people who don’t feel comfortable leaving their car on the street, this alone can be a determining factor.

Finalizing your decision

While the differences between older and newer homes are striking, there’s certainly no right or wrong answer. It is a matter of personal taste, and what is available in your desired area. To quickly determine which direction your taste trends, use the information above to make a list of your most desired features, then categorize those according to the type of house in which they’re most likely to be found. The results can often be telling.

If you have questions about newer versus older homes, or are looking for an agent in your area we have professionals that can help you. Contact me at brady@windermere.com

Posted by Tara Sharp

Blogs • May 21, 2013

Understanding a ‘short sale’

by Brady DenBleyker

Short Sale FAQs: Understanding the Short Sale Process

What Is A Short Sale?

A short sale is the sale of a property for less than what the owner still owes on the mortgage. A short sale is an alternative to foreclosure when a homeowner needs to sell and can no longer afford to make their mortgage payments. The lender agrees to accept less than the amount owed to pay off a loan now rather than taking the property back by foreclosure and trying to sell it later. Lenders agree to a short sale because they believe it will net them more money than going forward with a lengthy and costly foreclosure process.

Can Any Real Estate Agent Effectively Handle My Short Sale?

No. A short sale is a very complicated real estate transaction and one that has very important implications for you. More than any other type of residential real estate transaction, a short sale should be handled only by a real estate broker who has substantial experience with the short sale process , and a strong track-record of success in negotiating short sales for their clients. You wouldn’t have your family doctor perform heart surgery. And, you shouldn’t expect any real estate broker to be qualified to handle this highly complex real estate transaction for you.

Why Should I Choose A Short Sale Over Foreclosure?

Whether you should do a short sale or let your property go to foreclosure depends on several factors. In most instances, a short sale makes more sense than foreclosure. In general, when you want to obtain a loan to purchase a property in the future, more opportunities will be available to you if you do a short sale. And, contrary to popular belief, you can be current on your payments and still do a short sale. In fact, if you are current on your mortgage through a short sale, you can qualify for an FHA loan afterwards without any waiting periods. The same option will not be available following a foreclosure.

While doing a short sale will negatively affect your credit, there are many benefits to choosing a short sale over foreclosure. With a short sale, you are in control of the sale, not the bank. You may sleep better at night knowing who is buying your home, and you can spare yourself the social stigma of foreclosure.

Every homeowner’s situation is different, so we always recommend that you speak with a real estate attorney that can advise you on the legal and tax implications for your circumstances.

How Do I Know If I Qualify For A Short Sale?

If you owe more than your house is worth and can’t afford your mortgage payments, you may qualify for a short sale. Every situation is unique, but in general the basic criteria for qualifying for a short sale are:

You need to sell your home.
You owe more on your mortgage than your home is worth.
You have a personal financial hardship that will prevent you from making future payments. (Examples of hardship include loss of job, divorce, death of a spouse and medical emergency or illness.)

When calculating if your house is worth less than the amount owed on the loan, you should deduct out what you would pay in real estate commissions, closing costs, and state excise taxes to sell your home.

Will I Get Any Money From The Sale?

Unless specifically authorized through a federally-sanctioned program such as HAFA, when a lender approves a short sale, they typically require that the borrower (seller) not receive any money from the sale of the property since the lender is going to take a loss on the loan.

How Long Does A Short Sale Take?

The short sale process is complicated and time-consuming. It can take several weeks, or even months, to get a short sale approved. Many lenders have several layers of management, insurers, and investors that will have to be satisfied before a short sale is approved. As a homeowner, it is important to be patient during this long process. It is also critical that you work with a short sale negotiator who is familiar with the various requirements of individual lenders to ensure that the process moves as quickly as possible.

Is There Enough Time To Do A Short Sale Before A Foreclosure?

Maybe, maybe not. Just starting a short sale will not automatically stop a foreclosure. However, many times a lender can be convinced to postpone the foreclosure to let a short sale negotiation take place. So, while there are no guarantees, it does not hurt to try.

Does A Short Sale Always Work?

No, there is no guarantee that this will work. Once you fall behind on your loan, the lender can proceed to foreclosure if they choose to. But typically, lenders prefer not to foreclose and, if effectively presented with smart alternatives, they will often agree to a short sale rather than foreclose. If a short sale is attempted but doesn’t work, your house will likely go to foreclosure.

I Have More Than One Mortgage On My House. Can I Still Do A Short Sale?

Yes. Each mortgage can be negotiated individually. However, multiple mortgages make a short sale more complicated and time-consuming. Not only do you need the cooperation of the first lender, the second mortgage holder needs to agree to a short sale as well.

What Is A Release?

A lender may offer to “release” its security interest against the property in exchange for less than the total amount of the note. A release will allow the property to be sold without paying off the obligations of the note. However, the note is not satisfied. The advantage of a release is it allows the property to be sold and helps you avoid a foreclosure. The disadvantage is the remaining debt on the property (sometimes called a deficiency) still exists. You are still liable for the note. In other words, you still owe the money. In reality, it’s not likely that the lender will pursue the deficiency unless you have other significant assets. Furthermore, if you don’t attempt a short sale and the property goes to foreclosure, you can be liable for the full amount of remaining debt on any additional mortgages beyond your first mortgage.

What Is A Satisfaction?

A lender may agree to accept less than it is owed as complete and total satisfaction of the debt and release its lien against the property. Your note and obligation to the lender are satisfied for less than you owe. When the property is sold, the debt is paid off completely. Sometimes short sale negotiations are successful in obtaining complete satisfaction. Sometimes all that can be obtained is a release.

Are There Tax Consequences?

When a lender cancels, or forgives, your debt, the tax laws may consider the forgiven debt as taxable income. If a lender agrees to a satisfaction, the Mortgage Forgiveness Debt Relief Act of 2007 provides that debt forgiveness of up to $2 million is not considered taxable income if:

The house has been used as your principal place of residence for at least two of the previous five years.
The debt has been used to buy, build, or make substantial improvements to the home.

Home equity loans where the money was not used to buy, build, or improve the home do not qualify for the exclusion. Neither do mortgages for second homes or rental properties. The law has been extended to include debt forgiven through 2013.

There are additional tax considerations to keep in mind. A debt cancellation will affect your property’s cost basis. Insolvency or bankruptcy may also alleviate some of the tax burdens of a debt cancellation resulting from a short sale. You should always confirm tax matters with your tax professional.

Can I Keep The House Through A Short Sale?

The purpose of a short sale is to get the property sold, so you do not keep the house. Just as in a normal sale, you will be moving, typically when the sale closes. Some sellers choose to move before the house closes. You will not be allowed to remain in the house. If your intention is to remain in your house, you should consider other options besides a short sale.

Download a copy of Short Sale Frequently Asked Questions [PDF].

By Richard Eastern