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Youth Revisited!

June 9, 2016

What Childhood Board Games Have Taught Us About Real Estate!

Remember playing candy land? How about Monopoly? Battleship? Believe it or not, those games actually prepared us for life much better than we could have ever imagined! Buying property is a game, and how you play that game makes all the difference!

We were all taught to play fair, to be honest and no cheating! These basic rules hold true with real estate today. Here are some other rules that play strongly into purchasing property:

CANDYLAND — Pick a card, move 2 red spaces. Whoops! You’re stuck in the Molasses Swamp! There are always sticky situations that will arise, but working with the right real estate team can help move you right through them.

(You sunk my) BATTLESHIP — A game of strategy in which you have to read the expressions on your opponent’s face in order to guess where he placed his ship. Knowing the present market, your area overall and having your end goal in sight at all times, you will be better able to read the situation and make the best possible offer.

MONOPOLY — It seems like this one really speaks for itself. You are making deals to buy the right property. There are a few big lessons here, though. First: Don’t spend all of your money at once and make certain that you buy within your means! Sure, it sounds fantastic to own Park Place and Boardwalk, but can you afford to develop on those properties? How often do other players pay rent on those spaces? Simply thinking about a purchase from all angles will help you make the right decisions (and not send you directly to jail).

CLUE — It was Miss Scarlet in the dining room with the candlestick! Ask questions and look at the facts before you get ready to make an offer (or an accusation)!

CRANIUM — Build a team that is good in several areas and rely on their expertise to win! Cranium challenges you to use your whole brain. Purchasing property challenges you to use your whole team consisting of a realtor, an attorney, a lender, and an inspector. If you are all on the same page, there is no way you can lose!
Start planning your game night now!

The Five Stages!

June 1, 2016

By: Ari Taylor

Experts say that there are Five Stages to the Grieving Process. The same can actually be said for the real estate process. When selling a home, at one point or another, you are likely to hit one or all of those stages (sometimes, more often than once)…

Denial — “My house is actually worth… Wait… What?” Let’s face it, we all want to think that our house is worth a cool million, easy. “All of our memories are there. Are you sure it isn’t worth an additional $5,000 for that dent in the wall that Bobby made when he was playing ball in the house? And what about that beautiful orange backsplash that really brought out the lemon paint in the kitchen?” Market value is based on so much more than just the memories a home holds for us. Think location, neighborhood value, the time of year and even the current trends in home decor. All of these play an active part in dictating the actual value of your home.

Anger — “I’ve had two open houses and three showings, why have I gotten no offers? What is my agent doing wrong? Why is no one interested in my beautiful home?” The process can be very frustrating, and you may hit this stage more than once in the process. Take a deep breath, take a step back and try spending a Sunday going to other open houses. Make a list of what you like and don’t like in the houses you tour, and do so from the perspective of a buyer. Once you do that, apply it to your own home.

Bargaining — Just when you thought you’d never see an offer, here comes one! But, it is twenty-thousand below your asking price. “What? I already priced my home lower than what its worth!” (Here comes that anger again…). Now, it’s time for bargaining. In real estate, we call it negotiation. Go back to that buyer’s list that you made and see if what they are suggesting makes sense for you, then ask yourself, “What do I ultimately want? Is it a quick sale? Or the most money you can get?” Here’s where having an honest agent will help. Go over the options and counter-offer. Get creative with it!

Depression — “When will this all be over? It’s been weeks since we signed the purchase and sale. All of this packing, did I really want to sell? All these memories just being packed into boxes…” You get the idea. The weeks between purchase and sale and closing can seem very long. Additionally, that time can trigger some tender feelings. This is a great time to remember how far you’ve come in the process!
Acceptance — Closing day is finally here! You’ve moved all of your stuff out. You’ve swept the floor one last time, taken photos of those little, sentimental things (like Bobby’s dented wall) and are officially ready to move forward!

Some tips to help you buy smart!

May 27, 2016

By: Ari Taylor

Let’s face it: We all fall victim to pretty pictures and the right price when searching for a new home. But, how do you know if you really like the area? Buyer’s Remorse happens when you are stuck for two years and have made a substantial investment, and it goes without saying that it is a tough place to be stuck in. The right agent can help you to avoid this, but there are things you can do independently that will greatly improve your chances of loving what is on the inside of your home, as well as the outside. There are no guarantees, of course, but it is worth a shot!

Facebook — Most communities have their own Facebook group(s)/page(s). Ask the moderator of the group(s) to become a member. Once you are added, ask the group as a whole what they love and what they would like to change about the community.

Google — Do a Google search to see what comes up for news articles about the community, local events, the school system and other things of that nature.

Visit The Community — Once you have gathered your intel, get out and see it for yourself! Take a ride after work to check out what your new commute would be like and try doing your shopping there. One way to successfully scout out a new area is to see what it would be like to do your regular errands there. On a Sunday afternoon, do some driving around the neighbourhood and see what the locals are up to.

Local Events — Check to see if there is anything happening in the area and experience the community that way, or grab lunch and/or coffee at a local spot in the area.

Make A List — Make a list of the things that are most important to you such as: Can I walk to and from wherever I am shopping? Is there a Starbucks or Dunkin Donuts nearby? Are kid-friendly activities available? What is the nightlife like? Will I be T-accessible?
A lot of times, we focus on just the house and not enough on the location. Being smart about both aspects will help you to be and stay happy in your new home!

Add it up!

May 25, 2016

By: Ari Taylor

I want to buy a home! But how will I ever save up enough?

First off: What is your buying timeline? In one year? Two years?

How much will you need to make it happen?

–5% down on a house valued at $350,000 is $17,500. You will also need about $5,000 for closing costs and about $1,200 for home inspections (there may be multiple at $400/each). You will also want to keep a small reserve of about $25,000 for moving costs and furniture (AFTER you close).

There are a few ways to save which can help to get you toward your goal. First off, figure out what is and is not affordable for you. If your only savings is coming from your tax refund, then deposit that entire refund into a high-interest bearing account and do not touch it! It may take a little longer to reach your goal, but it will be well worth it. Start a separate savings account strictly for a new home.

Here are a few ways to make this dream happen:

Change comes from within!

–Do you save your pennies and other loose change? Now, I’m not saying that you’ll accrue an entire down-payment just from holding on to loose change alone, but you could potentially save about $600/year. In that one year, the cost of at least one home inspection is officially defrayed! One year of pinching pennies is worth about $600 and two years could potentially yield about $1,200.

BONUS TIP: Don’t use cash often? Add any bills under a $10 to your loose-change stash and forget about it. This could add an additional $200 to the stash!

Holiday gifts?

–Do Nana and Papa give you cash for your birthday and/or holidays? Sock it away, every little bit helps!

Taxes?

–Have your tax refund(s) deposited directly into your savings account rather than your checking account. The average federal return is $3,500. That gets you a bit further along!

Look at your expenses! Do you love the nightlife? How much is it costing you to go out regularly on Friday and Saturday nights?

Uber 2-ways = $40

Drinks = $60

Nightclub Entry = $20

Food = $20

That equals about $140 each night and about $280 for a weekend. Consider these numbers applied to 52 weekends in a year, which equals about $14,560 spent on going out. If you are a couple trying to save, those numbers sure add up! To be clear, I am not saying that everyone should give up going out on the weekends, but perhaps cut back on the pricey outings. If you went out one night per weekend instead of two, you could be saving about $7,280 every year. If you cut down to one night out every other weekend, that could save about $10,900 every year.

BONUS TIP: Don’t give up seeing your friends over money! Take turns hosting a group dinner or wine tasting. Everyone brings a $5 bottle of something and you always know where your phone and keys are!

Now, let’s talk coffee. Have you looked recently at what that latte costs you dollar-wise? Make sure you sign up for coffee programs when they are available. One or two drinks a month on the house really add up! Use your reward program card for regular coffees, which are cheaper. Then, that amazing $10 will be saved for a treat! When you get it for free, it not only helps your budget, but also have a fantastic effect on your diet! Say $7/day for coffee, that equals $2,555/year. Switching to a regular cup or even brewing at home will save you at least half of that!

Let’s Add it up:


	1 person 1 year	2 people 1 year	1 person 2 years	2 people 2 years
Loose Change	600	1,200	1,200	2,400
Bonus	200	400	400	800
Taxes	3,500	3,500	7,000	7,000
Nightlife	7,280	14,560	14,560	29,120
Coffee	1,277	2,555	2,555	5,110
Total Savings	12,857	22,215	25,715	44,430

Looking for additional ways to save? Joining sites like Ebates and Ibotta can help you save extra funds here and there, which add fantastically to your total savings. Cutting down on eating-out and utilizing meal-planning tactics can help get you a little further along with your savings as well. Formally organizing your budget can also add in a positive manner to your savings plan.

There are also down-payment assistance programs in many areas, as well as certain loans that require little-to-no money down. Ask your agent about these options!

Remember: This information is based on a home that is valued at $350,000. You may be looking to spend more or less.

Whatever your goal may be, call today and we can begin the process of making your real estate dream a reality!
**All information is based on average spending and tax amounts. Your personal numbers may differ***

6 improvements to increase home value!

May 6, 2016

Not all home improvements are created equal. These will reward you the most when it comes time to sell.

Dreaming of stainless this and marble that, with a dash of hip color? Sloooow down. See what your wallet has to say first. Some projects will protect your dollars more than others, especially if you’re planning to sell in a few years.

How do we know? Since 2002, a trade magazine for contractors and builders called “Remodeling” has been tracking common home improvement projects and how much of the cost of each project is recouped when the home sells.

We sifted through years of past results and aggregated the numbers to get an idea of what projects made the most of your dollars year after year. Then we overlayed that background with the data from the NATIONAL ASSOCIATION OF REALTORS®’ “2015 Remodeling Impact Report” to determine current project costs and the cost recovery percentage, and to get some other fun facts, such as how satisfied homeowners are with the projects when finished.

They also have a few things in common. The projects are:

Low-maintenance

Good — but not necessarily the highest — quality

Energy-efficient

Not too costly

These projects are the best long-term remodeling investments you can make:

Replacing Your Front Door:

Your faithful front door works tirelessly — day in and day out — to usher in you and your guests, and to seal your house up tight. But when Old Faithful gets tired and worn out, don’t hesitate to call in a replacement. Year in and year out, replacing your old front door with a new steel door is a project that kicks up curb appeal and yields the best payback.

“It gives you the best bang for your buck in terms of transforming the look and feel of your home,” says Brandon Erdmann, president of the remodeling firm HomeSealed Exteriors in Milwaukee. “Plus, old exterior doors can be a huge source of energy loss. So you’re improving the look of your house, improving energy efficiency, and you’re able to do it without breaking the bank.”

It’s also a relatively low-cost project. According to the “2015 Remodeling Impact Report,” a new steel front entry door has a national median cost of $2,000 installed, and can recover 75% of that cost at resale.

New Siding:

What to choose? Both vinyl and fiber-cement siding are good replacement options.

Vinyl siding is low-cost, durable, and easy to install, and it hits all the right notes when it comes to getting a return on your home improvement dollars. Best of all: It’s a low-maintenance feature that frees up your time.

Today’s vinyl siding includes fade-resistant finishes and transferrable lifetime warranties that are much better than the 10-year guarantees of just two decades ago. There’s good payback, too. According to the “2015 Remodeling Impact Report,” the $12,000 national median cost of a vinyl siding replacement job returns a solid 83% if you should decide to sell your home.

Fiber-cement siding also shows a strong payback of 79% in the “2015 Remodeling Impact Report.” Although its national median cost of $19,100 makes it the pricier option, it has one thing vinyl still lacks — the perception of quality.

And quality matters. In a survey from the National Association of Home Builders (NAHB), “quality” was the one of the most important traits that home buyers focused on when shopping for a house. A final word: 100% of homeowners responding to the “Report” said they were happy or satisfied with the result of their fiber-cement siding replacement project.

Kitchen Upgrade:

“People are always willing to update their kitchens,” says Dale Contant, 2016 president of the National Association of the Remodeling Industry (NARI) and owner of Atlanta Build and Design. “It’s the hub of the home.”

Although the ROI on a kitchen update is relatively modest — the “2015 Remodeling Impact Report” says you can expect a return of 67% on the $30,000 national median cost of a kitchen upgrade — you’ll get lasting satisfaction. Eighty-two percent of homeowners said their updated kitchen gave them a greater desire to be at home, and 95% were happy or satisfied with the result.

Deck and Patio Additions:

One big reason is that decks and patios are a sweet way to expand living space at a low cost of $8 to $35 per square foot — a bargain compared to the $150-and-up per-square-foot cost of a new addition.

Turning an Attic into a Bedroom:

When it comes to romantic rooms, a bedroom retreat is hard to beat. But a treetop boudoir is much more than a daydream — it’s a good investment. You’ll gain living space without having to add on to your home’s footprint — the walls, floor, and ceiling already exist. That helps keep remodeling costs under control.

There are code restrictions you’ll have to navigate when converting an attic to a bedroom, but if your house qualifies and you can cover the cost (about $65,000 says the “2015 Remodeling Impact Report”), chances are you won’t regret your decision. Some 94% of homeowners responding to the “Report” said they were happy or satisfied with their new attic space.

New Garage Door:

No surprise that a garage door replacement project made it onto our list of all-time winners — a new garage door provides a big boost for your home’s curb appeal at a relatively modest cost. That’s especially good news if you’re thinking about selling your house.

A project that replaces an older, two-car, embossed steel door has a current cost of about $2,300, according to the “2015 Remodeling Impact Report.” If you sell, you can expect a healthy ROI of 87% on your investment.

There are options galore, too. A host of factory-finish colors, wood-look embossed steel, and glass window insets are just some of the possibilities that’ll give your doors bankable personality.

Find the best agent to sell your home!

May 4, 2016

By: G.M. Filisko

Ask detailed questions about their experience and skills to help you find the right agent for your home sale.

Working with the right real estate agent can mean the difference between getting prompt, expert representation and feeling like you’re going it alone when selling your home. Here are 10 questions to ask when you’re interviewing agents.

1. How long have you been selling homes?

Mastering real estate requires on-the-job experience. The more experience agents have, the more likely they’ll be able to handle any curveballs thrown during your home sale.

2. What designations do you hold?

Designations like GRI (Graduate REALTOR® Institute) and CRS® (Certified Residential Specialist), which require that agents complete additional real estate training, show they’re constantly learning. Ask if agents have designations and, if not, why not?

3. How many homes did you sell last year?

Agents may tout their company’s success. An equally important question is how many homes they’ve personally sold in the past year; it’s an indicator of how active and aggressive they are.

4. How many days on average did it take you to sell homes?

Ask agents to show you this data along with stats from their local Multiple Listing Service (MLS) so you can see how many days, on average, their listings were on the market compared to the average for all properties in the MLS.

5. How close were the asking and sales prices of the homes you sold?

Sometimes sellers choose their agent because the agent’s suggested listing price is higher than those suggested by other agents. A better factor is the difference between listing prices and the amount homes actually sold for. That can help you judge agents’ skill at accurately pricing homes and marketing to the right buyers. It can also help you weed out agents trying to dazzle you with a lofty sales price just to get your listing.

6. How will you market my home?

The days of agents putting a For Sale sign in the yard and hoping for the best are long gone. Look for an agent who does aggressive and innovative marketing, especially on the Internet.

7. Will you represent me exclusively?

In most states, agents can represent the seller, the buyer, or both in a home sale. If your agent will also represent buyers, understand and consent to that dual representation.

8. How will you keep me informed?

If you want weekly updates by email, don’t choose an agent who plans to contact you only if there’s an offer.

9. Can you provide references?

Ask to talk to the last three customers the agent assisted. Call and ask if they’d work with the agent again and if the agent did anything that didn’t sit well with them.

10. Are you a REALTOR®?

Ask whether agents are REALTORS®, which means they’re members of the NATIONAL ASSOCIATION OF REALTORS® (NAR). NAR has been an advocate of agent professionalism and a champion of homeownership rights for more than a century.

How to Use Comparable Sales to Price Your Home!

April 7, 2016

By: Carl Vogel

Before you put your home up for sale, understand how the right comparable sales help you and your agent find the perfect price.

How much can you sell your home for? Probably about as much as the neighbors got, as long as the neighbors sold their house in recent memory and their home was just like your home.

Knowing how much homes similar to yours, called comparable sales (or in real estate lingo, comps), sold for gives you the best idea of the current estimated value of your home. The trick is finding sales that closely match yours.

What makes a good comparable sale?

Your best comparable sale is the same model as your house in the same subdivision—and it closed escrow last week. If you can’t find that, here are other factors that count:

Location: The closer to your house the better, but don’t just use any comparable sale within a mile radius. A good comparable sale is a house in your neighborhood, your subdivision, on the same type of street as your house, and in your school district.

Home type: Try to find comparable sales that are like your home in style, construction material, square footage, number of bedrooms and baths, basement (having one and whether it’s finished), finishes, and yard size.

Amenities and upgrades: Is the kitchen new? Does the comparable sale house have full A/C? Is there crown molding, a deck, or a pool? Does your community have the same amenities (pool, workout room, walking trails, etc.) and homeowners association fees?

Date of sale: You may want to use a comparable sale from two years ago when the market was high, but that won’t fly. Most buyers use government-guaranteed mortgages, and those lending programs say comparable sales can be no older than 90 days.

Sales sweeteners: Did the comparable-sale sellers give the buyers down-payment assistance, closing costs, or a free television? You have to reduce the value of any comparable sale to account for any deal sweeteners.

Agents can help adjust price based on insider insights

Even if you live in a subdivision, your home will always be different from your neighbors’. Evaluating those differences—like the fact that your home has one more bedroom than the comparables or a basement office—is one of the ways real estate agents add value.

An active agent has been inside a lot of homes in your neighborhood and knows all sorts of details about comparable sales. She has read the comments the selling agent put into the MLS, seen the ugly wallpaper, and heard what other REALTORS®, lenders, closing agents, and appraisers said about the comparable sale.

More ways to pick a home listing price

If you’re still having trouble picking out a listing price for your home, look at the current competition. Ask your real estate agent to be honest about your home and the other homes on the market (and then listen to her without taking the criticism personally).

Next, put your comparable sales into two piles: more expensive and less expensive. What makes your home more valuable than the cheaper comparable sales and less valuable than the pricier comparable sales?

Are foreclosures and short sales comparables?

If one or more of your comparable sales was a foreclosed home or a short sale (a home that sold for less money than the owners owed on the mortgage), ask your real estate agent how to treat those comps.

A foreclosed home is usually in poor condition because owners who can’t pay their mortgage can’t afford to pay for upkeep. Your home is in great shape, so the foreclosure should be priced lower than your home.

Short sales are typically in good condition, although they are still distressed sales. The owners usually have to sell because they’re divorcing, or their employer is moving them to Kansas.

How much short sales are discounted from their market value varies among local markets. The average short-sale home in Omaha in recent years was discounted by 8.5%, according to a University of Nebraska at Omaha study. In suburban Washington, D.C., sellers typically discount short-sale homes by 3% to 5% to get them quickly sold, real estate agents report. In other markets, sellers price short sales the same as other homes in the neighborhood.
So you have to rely on your real estate agent’s knowledge of the local market to use a short sale as a comparable sale.

Short-sale in Lancaster!

March 28, 2016

Lancaster Colonial

Newer colonial in a premier setting at 40 Burbank Lane in Lancaster! Cul-de-sac location and set back from the road to maximize the privacy of the 3.62 acres. 4 beds, 2.5 baths and nearly 3000 sq feet that includes a full Master Suite with private bath, first floor office, formal dining room and family room. Large kitchen features a center island that can seat 6 people. This custom kitchen with granite counters has expanded features to include a pantry, wine rack and china cabinet. Additional seating area with wood burning fireplace with easy access to the back deck through the sliders really makes this a space to be in! The upper level features generous bedrooms with a full Master Suite that includes a walk-in closet and private bath with Jacuzzi tub. Additional space can be had in the unfinished walk up attic or unfinished walk out basement. Central a/c, workshop and 2 car garage! Don’t miss this short sale opportunity!

Short sale in Lancaster!

March 21, 2016

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Short sale in North Oxford!

March 21, 2016

20150507_151358

This is an excellent short sale property ready to move at $20,000 *BELOW* what it was assessed at. A true steal at just $140,000! This property is at 14 Marcam Village Road, Unit 14 in North Oxford. 6 rooms, 3 bedrooms and 1.5 baths, open floor plan with a finished basement. Located in a super quiet community and has 4 parking spots available. Call us today!