The 3 Main Areas Home Inspectors Have To Check

 

Three home upgrades that will fetch you a high return on your investment.

Do you know what things a home inspector looks for when they visit a property? Home inspectors will investigate every nook and cranny from the foundation to the roof to find anything that might affect the property’s value. Here are the main things that they will check:

1. Roof. Inspectors look for leaks, damaged or missing shingles, and moss growth. They also look for any problems with the flashing, gutters, vents, attic ventilation, and skylights, if your home has them. Make sure everything is watertight to avoid any major issues.

"Home inspections reveal the current condition of the home."

2. Structure. The foundation of the home should be solid and be able to stand the test of time. The inspector will usually check for cracks in the foundation or water damage to the siding or supports.

3. Utilities. The HVAC, filtration, plumbing, and electrical systems will all be thoroughly inspected to make sure they are all working properly and have no safety compromises. If they’re damaged or faulty, you should find out how much it costs to repair or replace them.

Depending on the age of the home, this can be a scary report, but take note of these areas and keep them in working order because the results of the inspection can influence your final price. Your Realtor is also there to help you understand the report and negotiate any repairs. If you have any questions, feel free to reach out to me by phone or email. I look forward to hearing from you!

The Ultimate Guide To Deciding When To Sell

A few things to consider when making the decision to list your home.

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Do you want to sell your home but are not sure whether to sell now or wait? To help you make the best real estate move, I’m sharing a few things you need to consider when deciding when to sell. Ultimately, it all depends on your situation.

Feel free to watch the full video above or use these timestamps to browse specific topics at your leisure:

0:00 — Introduction

0:37 — Do you have equity?

1:08 — Will the home sale help you financially?

1:45 — Do you have a place to go?

2:54 — Do you have the money to move?

3:35 — Are you emotionally ready?

4:20 — Will you be working with an experienced Realtor?

4:48 — Conclusion

If you need help deciding when to join the market or have any real estate questions, call or email me. I’m always happy to help.

Projects That Will Give You the Biggest ROI

 

Three home upgrades that will fetch you a high return on your investment.

When preparing your house for sale, you may be led to believe that the more upgrades you make, the higher the price you can list for. However, not all home upgrades are created equal; some will have you pouring money down the drain, while others will get you immediate resale value. Understanding which projects to take on can help you make thousands of dollars more. So, what home improvements should you do if you want to get a fantastic return on your investment?

To answer this question, we have to take into consideration the changes that happened in the past few years. Our homes were recently put through a massive re-evaluation. In response to the pandemic, there are now certain features in a home that have become much more attractive to buyers. If you can include them in your upgrades, you can increase the value of your house and turn it into a coveted property in the market. In particular, there are three projects you’ll want to take on:

1. Add more usable square footage. According to a 2020 survey by HomeLight, the need for more space was among the top reasons why people move. Projects such as creating a home office space, building an open floor plan, and finishing your basement can give you that additional space that buyers want nowadays.

The National Association of Home Builders (NAHB) identifies home offices as one of the new design trend interests in 2022. In addition, the NAHB found that 85% of buyers want an open layout between the kitchen area and the dining room. Lastly, finishing your basement can increase your ROI by 70%.

"Understanding which projects to take on can help you make thousands of dollars more."

2. Improve your curb appeal. One of the best ways to improve your home’s curb appeal is by focusing on your landscaping. Make your home look more enticing by adding healthy plants and blooming flowers to your yard. To make even more of a statement, slap a fresh coat of paint on your house’s exterior. However, not all changes have to be big and grand. Sometimes small details like updating your mailbox and house number will catch the attention of buyers.

3. Upgrade your outdoor space. Functional outdoor spaces such as a deck, a fireplace, or an outdoor kitchen are now more valued due to the pandemic. If your home has a nice exterior living area, buyers can imagine themselves enjoying the fresh air as they indulge in outdoor activities. If you already have an outdoor oasis, pressure wash or make repairs if necessary for a low-cost way to improve your home’s value.

Home improvements can be expensive, so you want to make sure you’re investing in the right projects. If you’re not sure whether your renovation plans are worth pursuing, feel free to call or email me. I’m happy to give you real estate advice and help you get the best value for your home.

Don’t Believe These 4 Misconceptions

Don’t believe these misconceptions about hyper seller’s markets.

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Here are four misconceptions about a hyper seller’s market that you shouldn’t believe:

1. You have to have a plan to sell. It’s good to have some type of outline, but you don’t need to have it down to an exact science. A lot of sellers think they have to sell their homes and have an existing home available right away. However, it’s common for sellers to sell their homes, have a 30-day close, and then have a 30- to 60-day rent-back period. Sometimes, this rent-back period is free. In any case, this gives them time to figure out how to move into their next home. 

2. The condition of the house doesn’t matter. You always want to make sure your home is in good condition when selling, no matter what market you’re in. Even in this hyper seller’s market, your home needs to be in good condition. If you accept a buyer’s offer but they discover a whole bunch of problems with the home during the escrow period, they may back out of the deal. To prevent this, make sure your home goes through some type of inspection before selling (which you’d attend with your agent).

3. Price doesn’t matter. It’s true that if you list your home, it will likely sell quickly (hopefully with multiple offers). However, we’re seeing sellers get on the greedier side and list their homes above where they should be. The problem with this is that buyers have a certain limit, and if you overprice your home, they won’t even look at it. 

soon.

" You always want to make sure your home is in good condition when selling."

4. You can sell as is without any professional help. You might get a few offers by doing this, but there are a lot of things to consider when listing a home. For example, is it staged correctly? Is it marketed correctly? How will you deal with multiple showings the first weekend after you list? If you get multiple offers, how will you navigate through them and make sure you choose the best one? 

Selling by yourself is not a good idea. Get a professional to help you. You’ll have a much easier transaction and deal with far less stress. 

As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m happy to help. 

Everything Sellers Need to Know About Listing This Fall

Is selling this fall a good idea? Actually yes, and today I’ll explain why.

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If you’ve thought about listing this fall but aren’t sure whether it’s a good time to do so, then I’ve got some good news.

Not only is buyer demand strong right now, but inventory is low, as well. This translates to lower competition (and the potential for a higher sales price) for those who do choose to list.
 
If these reasons weren’t enough, many buyers are also eager to find their next home before the holidays arrive. This sense of urgency only serves to further your leverage as a seller.

Today’s low inventory translates to lower competition (and the potential for a higher sales price) for those who do choose to list.

Those looking to upgrade their living situation by moving into a larger property (or one in a higher price point) are also at a particular advantage right now, as appreciation rates have jumped up by 5.2% this past year.

Of course, financial factors aren’t the only reasons you might want to make a move. Personal developments can be an equally strong incentive to sell. Whether it’s a marriage, a new job, the birth of a child, or anything else, selling your current home so that you can transition into another often comes along with these major life changes.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Why Should You Professionally Stage Your Home?

Emilie McVay, an interior designer from Luminous Staging, is here to discuss the many benefits of staging your home before it hits the market.

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Today, Emilie McVay from Luminous Staging is here to discuss some of the benefits of using a professional designer to stage your home before you put it on the market.

Emilie has been an interior designer for residential properties for 23 years, and she has been staging for one year. Emilie has helped some of my new clients who have a house coming up on the market, and she has a few tips to share with you.

First of all, millennials are the biggest population looking for homes. Since millennials are very tech savvy, they are interested in smart home technology, like Alexa or Google Home. They want systems they can operate through their iPhone while they’re away so that they can control things like lighting, security, and appliances. Adding some smart home systems will add value to your home, as will doing some home improvement projects before your home hits the market.

As a seller, you do typically have to pay for the staging consultation. However, if you’re not sure about getting your home staged and your Realtor really thinks it’s a good idea, or if you don’t have enough money out of pocket to pay for staging up front, Emilie does offer getting paid out of escrow. That way, you also get to see how staging adds value to your home and helps your home sell quicker.

Staging can increase the value of your home by 15% to 30% on average. Emilie also says that a staged home sells 87% faster than a non-staged home. Remember, 97% of people look at properties online before they walk into a home. Staging helps your professional photos catch a buyer’s eye when they are looking at homes online.

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Staged homes sell 87% faster than non-staged homes.

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Properly staging your home is more than having the right furniture; it’s about creating the right space flow. When someone walks into the home, it’s important that they feel like the flow of the home and the space planning matches their lifestyle. Staging also makes your home look bigger, which will be very appealing.

Emilie also pays special attention to the design of your home. If your home was built in 1935, for example, she’s not going to use contemporary, modern furniture. Your home should have a cohesive look inside and outside so that when a buyer walks in, they’ll say, “Wow, this home looks well put-together.”

Emilie can stage a home in under a week. However, if your home needs a few repairs or decluttering, the entire process takes closer to four or five weeks.

I would like to thank Emilie for talking with us today. If you have any questions for her, you can give her a call at (949) 235-0466 or email her at Emilie@LuminousStaging.com. As always, if you have any real estate questions, just give me a call or send me an email. I would be happy to help you!

5 Reasons You Should List Early in 2018

If you’ve been putting off your home sale, what are you waiting for? The time to list is right now, and there are five reasons why.

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I know many people think they should wait until spring to list their home, but I’ve got five reasons today as to why you should list right now.

1. Prices have gone up.  Depending on your location, prices have risen between 3.5% and 5.5% percent. Here in Southern California, they’ve increased significantly. 
2. Inventory is low. In the last several years we’ve had 6,000 homes on the market in Orange County, but right now we have just around 3,900. The market is in desperate need of more listings.
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The market is in desperate need of more listings.

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3. Interest rates are at historic lows. We’re still seeing interest rates ranging around 4%. This means buyers have increased buying power and will be willing to bid for your property against other buyers. 
4. Consumer confidence is high. The economy right now is doing phenomenally and unemployment is currently below 4%. With more money in their pockets due to tax reform, many people are ready to make their next home purchase.
5. Millennials are entering the market. According to a recent study by Bank of America, 64% of millennials have saved $15,000 toward a home and 50% have saved over $100,000. If you price your home correctly, now is a great opportunity to take advantage of this demographic’s entrance into the market. 

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.