Mortgage Rate Forecast

Geopolitical uncertainty is causing mortgage rates to drop. Windermere Chief Economist, Matthew Gardner, explains why this is and what you can expect to see mortgage rates do in the coming year.

 

Over the past few months we’ve seen a fairly significant drop in mortgage rates that has been essentially driven by geopolitical uncertainty – mainly caused by the trade war with China and ongoing discussions over tariffs with Mexico.

Now, mortgage rates are based on yields on 10-Year treasuries, and the interest rate on bonds tends to drop during times of economic uncertainty.  When this occurs, mortgage rates also drop.

My current forecast model predicts that average 30-year mortgage rates will end 2019 at around 4.4%, and by the end of 2020 I expect to see the average 30-year rate just modestly higher at 4.6%.

Posted on July 4, 2019 at 8:00 am
Jon Holsten | Category: Buying, Housing Trends | Tagged , , , , , ,

Should I Move or Remodel?

Posted in BuyingSelling, and Living by Kenady Swan 

There are a number of things that can trigger the decision to remodel or move to a new home. Perhaps you have outgrown your current space, you might be tired of struggling with ancient plumbing or wiring systems, or maybe your home just feels out of date. The question is: Should you stay or should you go? Choosing whether to remodel or move involves looking at a number of factors. Here are some things to consider when making your decision.

 

Five reasons to move:

1. Your current location just isn’t working.

Unruly neighbors, a miserable commute, or a less-than-desirable school district—these are factors you cannot change. If your current location is detracting from your overall quality of life, it’s time to consider moving. If you’re just ready for a change, that’s a good reason, too. Some people are simply tired of their old homes and want to move on.

2. Your home is already one of the nicest in the neighborhood.

Regardless of the improvements you might make, location largely limits the amount of money you can get for your home when you sell. A general rule of thumb for remodeling is to make sure that you don’t over-improve your home for the neighborhood. If your property is already the most valuable house on the block, additional upgrades usually won’t pay off in return on investment at selling time.

3. There is a good chance you will move soon anyway.

If your likelihood of moving in the next two years is high, remodeling probably isn’t your best choice. There’s no reason to go through the hassle and expense of remodeling and not be able to enjoy it. It may be better to move now to get the house you want.

4. You need to make too many improvements to meet your needs.

This is particularly an issue with growing families. What was cozy for a young couple may be totally inadequate when you add small children. Increasing the space to make your home workable may cost more than moving to another house. In addition, lot size, building codes, and neighborhood covenants may restrict what you can do. Once you’ve outlined the remodeling upgrades that you’d like, a real estate agent can help you determine what kind of home you could buy for the same investment.

5. You don’t like remodeling.

Remodeling is disruptive. It may be the inconvenience of loosing the use of a bathroom for a week, or it can mean moving out altogether for a couple of months. Remodeling also requires making a lot of decisions. You have to be able to visualize new walls and floor plans, decide how large you want windows to be, and where to situate doors. Then there is choosing from hundreds of flooring, countertop, and fixture options. Some people love this. If you’re not one of them, it is probably easier to buy a house that has the features you want already in place.

 

Five reasons to remodel:

1. You love your neighborhood.

You can walk to the park, you have lots of close friends nearby, and the guy at the espresso stand knows you by name. There are features of a neighborhood, whether it’s tree-lined streets or annual community celebrations, that you just can’t re-create somewhere else. If you love where you live, that’s a good reason to stay.

2. You like your current home’s floor plan.

The general layout of your home either works for you or it doesn’t. If you enjoy the configuration and overall feeling of your current home, there’s a good chance it can be turned into a dream home. The combination of special features you really value, such as morning sun or a special view, may be hard to replicate in a new home.

3. You’ve got a great yard.

Yards in older neighborhoods often have features you cannot find in newer developments, including large lots, mature trees, and established landscaping. Even if you find a new home with a large lot, it takes considerable time and expense to create a fully landscaped yard.

4. You can get exactly the home you want.

Remodeling allows you to create a home tailored exactly to your lifestyle. You have control over the look and feel of everything, from the color of the walls to the finish on the cabinets. Consider also that most people who buy a new home spend up to 30 percent of the value of their new house fixing it up the way they want.

5. It may make better financial sense.

In some cases, remodeling might be cheaper than selling. A contractor can give you an estimate of what it would cost to make the improvements you’re considering. A real estate agent can give you prices of comparable homes with those same features. But remember that while remodeling projects add to the value of your home, most don’t fully recover their costs when you sell.

 

Remodel or move checklist:

Here are some questions to ask when deciding whether to move or remodel.

1.      How much money can you afford to spend?

2.      How long do you plan to live in your current home?

3.      How do you feel about your current location?

4.      Do you like the general floor plan of your current house?

5.      Will the remodeling you’re considering offer a good return on investment?

6.      Can you get more house for the money in another location that you like?

7.      Are you willing to live in your house during a remodeling project?

8.      If not, do you have the resources to live elsewhere while you’re remodeling?

 

If you have questions about whether remodeling or selling is a wise investment, or are looking for an agent in your area, we have professionals that can help you. Contact us here.

Posted on May 20, 2019 at 8:00 am
Jon Holsten | Category: Buying, Home Maintenance, Housing Trends, Northern Colorado Real Estate, Selling | Tagged , , , , , , , , , ,

How to Get Started in Real Estate Investing

Posted in Buying by Kenady Swan 

Investing in real estate is one of the world’s most venerable pathways to building wealth. When properly managed, income from renting or real estate investment trusts can provide you with the financial security to plan out the rest of your life. The conclusion is easy to envision, but knowing where to begin can be overwhelming, particularly for anyone who has never previously owned a home.

At Windermere our goal is always to improve and support our communities, so we’ve put together a few key things to keep in mind as you enter the world of real estate investment.

Know the right type of investment for you

Investing in real estate needn’t commit you to being a landlord. A Real Estate Investment Trust (REIT) is a low-maintenance way to get involved in real estate with next to none of the day-to-day monitoring required of direct property management. REITs are trusts that typically own multiple properties, and investors may purchase shares within the REIT. Typically, as the value of the property rises, so too do the values of your shares. If you’d like to dip a toe into real estate investing before diving in fully, a REIT is a great place to start.

Start with your own home

Owning the roof over your head is a basic step towards investing success. Even better, when you plan to live in the home you’re buying (rather than renting it out), you will likely benefit from lower mortgage rates and a cheaper down payment. The reasoning is straightforward – lenders see a loan to people purchasing the home they live in as an investment in people highly committed to the property.

Once you’ve owned your own house for a few years, you can look to purchase a new home to move into. By purchasing the new home with the intent to move in, you’ll be eligible to receive more favorable financing once again. After you’ve secured your new home, your first home is primed to be transformed into a rental property, and you can continue to see a return on your investment. If you’re seeking further support with buying a first, second, or third home, our website and our agents are full of information.

Cast a wide net

The best investment opportunity isn’t always going to be right underneath your nose. While there are logistical benefits to focusing locally with your investment, you may miss more profitable opportunities in another burgeoning market. Real estate is a long game, and patience tends to be rewarded. There’s no cause to rush a decision of this magnitude, so investigating other states and regions to find the property that best fits your situation is a process worth considering.

Posted on April 29, 2019 at 8:00 am
Jon Holsten | Category: Buying, Homes for Sale, Housing Trends | Tagged , , , ,

Making Your Home Smarter With Smart Appliances

Products that let you control every aspect of your home remotely are growing at a rapid rate. Smartphone-connected devices and appliances are increasingly common and deliver a stylish, effective design. You can pick and choose your favorite gadgets to assemble an affordable, intelligent abode on your own terms, or opt for an entire smart home system that does all the work for you.

While home automation is becoming more prevalent, naturally there are more and more products becoming available as “smart devices”. Here are a few types of devices we found that found the mark for function and style:

GE WiFi CONNECT WASHER AND DRYER

Photo Credit: GE Appliances

Check washer progress with an app that lets you monitor cycles and settings, extend drying times, monitor levels of Smart Dispense tanks, download custom specialty cycles and receive alerts when clothes haven’t been removed.

 

LOGITECH HARMONY ELITE, UNIVERSAL REMOTE CONTROL

Photo Credit: Logitech 

More than just a TV remote – the Logitech Harmony Elite offers all-in-one control of up to 15 home devices including your TV, satellite or cable box, Apple TV, Roku, TiVo, Blu-ray player, game consoles, plus connected lights, locks, thermostats, sensors and more. There’s even a free app that turns your smartphone into an additional remote.

 

FRIGIDAIRE SMART WINDOW AIR CONDITIONER

Photo Credit: Frigidaire

A wifi connected air conditioner that you control through an app on your smartphone allows you to turn the unit on or off, change temperature, control modes and adapt fan speeds – especially handy if you want your home cooled off before you get home!

 

SAMSUNG FAMILY HUB REFRIGERATOR

Photo Credit: Samsung

A few years ago, having a French door refrigerator with cameras, wifi, and a gigantic touchscreen would have been the stuff of dreams. Today it is a reality. This high-end fridge will let you peek inside it while grocery shopping, search for recipes on the 21.5-inch display, mirror your smart TV so you can keep watching your movie while you grab a drink, share calendars, photos and best of all – it even keeps your food cold.

Posted on March 5, 2019 at 8:00 am
Jon Holsten | Category: Home Maintenance, Housing Trends, Windermere Real Estate | Tagged , , , , , , ,

Four In Forty!

Did you know, according to FHFA, prices in Larimer County have dropped more than 1% only 4 times in the last 40 years?

FHFA stands for the Federal Housing Finance Authority. We are one of 261 markets that they track. Since 1978 they have been measuring home price appreciation here.
If you look at the appreciation numbers for each individual year, you will notice that most years the prices go up and some years the prices go down.
But there have only been 4 times in those 40 years where prices decreased more than 1%
Here’s what happened those 4 times:
• 1982 = -3.99%
• 1987 = -1.86%
• 2008 = -2.29%
• 2010 = -1.12%
Sometimes we hear buyers say that they would like to wait for the “prices to come crashing down.” The reality is that the price drops don’t happen all that often and when they do, they don’t drop by that much at all.
If you would like to see a short video with a recap of our annual Market Forecast presentation, watch the video below.
Posted on March 4, 2019 at 8:00 am
Jon Holsten | Category: Buying, Fort Collins Real Estate, Homes for Sale, Housing Trends, Northern Colorado Real Estate, Selling, Windermere Real Estate | Tagged , , , , , , , , , ,

Home Staging Tips

DIY Home Staging Tips:

With a little time, effort and imagination, you can stage your home to showcase its best features, sell it faster and get top dollar.

Clean up, pare down, and toss out: By simply getting rid of excess furniture and clutter, you can make any room look larger and more inviting.

Make it professional, not personal: Remove family photos, mementos and other personal items from the space. This not only eliminates clutter, it helps potential home buyers envision their lives in the space.

Repurpose rooms: Do you have a “junk” room? You can transform a liability into an asset by turning an underused space into a reading nook, a craft room, a yoga studio or a home gym. Just clean it up, add a coat of paint, some furniture and the right accessories.

Lighten up: Light, airy rooms look bigger and more welcoming. You can create a pleasing effect by using the right wattage bulbs and multiple light sources. The right window treatments can also have a big impact. Choose fabrics that are light and gauzy, rather than dark and heavy.

Try a little color: Paint is the cheapest, easiest way to update your home. Stick with warm, natural hues, but try darker colors for accent walls and to highlight special features. You can give old furniture new life with a coat of shiny black paint—and freshen up the front door with a bold, cheerful color.

Add some decorative touches: Art, accessories, plants and flowers breathe life into a home. Make rooms more inviting with accessories that are carefully grouped, especially in threes. Pay attention to scale, texture and color. Bring the outdoors in with plants and flowers.

 

Picture-Perfect Staging:

When it comes to looking for a home most people start on the internet. The photos in your property listing can make a powerful first impression. According to a recent Wall Street Journal article, professional photos can increase home views up to 61%. Make sure your home is “ready for its close-up” by following these simple guidelines before the photographer shows up.

For exterior photography:

·         Make sure no cars are parked in front of your house or in your driveway.

·         Sidewalks and streets should be cropped out

·         There should be up-close and angled shots, as well as long shorts that emphasize space.

·         Clear away or trim vegetation blocking the front door or path to the door.

·         Make sure lawns are mowed, hedges clipped, etc.

·         Remove evidence of pets.

·         Put away children’s toys.

·         If you are selling a condo or townhome, such amenities as tennis courts, a gym, a garden patio or clubhouse should be photographed.

For interior photography:

·         Make sure your house is spotless, windows are clean and rooms are decluttered.

·         Repair all visible damage, e.g., bad water stains, gouges, chipped paing.

·         Drapes and blinds should be open and lights on.

·         Remove trash cans, close toilet seats.

·         Use floral arrangements in kitchens and dining rooms.

·         Make sure that interesting details and attractive features—e.g., wood floors, a carved mantel, marble countertops and ornamental tile backslashes, etc. – are photographed.

Posted on March 1, 2019 at 8:00 am
Jon Holsten | Category: Homes for Sale, Northern Colorado Real Estate, Selling, Windermere Real Estate | Tagged , , , , , , ,

Open Your Home With the Right Tone and A Welcome Mat

Posted in Living by John Trupin 

Right before the guests ring the doorbell or give the front door an old-fashioned knock, they step on your welcome mat. This mat serves two purposes: catching debris and adding style. Here are some ideas for how to give this entry detail a refresh.

 

Welcome Mat 1: Caela McKeever, original photo on Houzz

 

Say Hello

A lettered mat can help you say exactly what you want to say when someone comes to your door. Obviously, nothing says hello more than the word “hello.”

The simple greeting might also draw visitors’ eyes to the ground and remind them to take off their shoes before they step inside.

 

Coordinate Colors

If you have a colorful front door, use that as doormat inspiration. If your door lacks color, maybe it’s time to paint it.

Door paint: Scarlet Ribbons, Dulux

 

Welcome Mat 2: Zack | de Vito Architecture + Construction

 

The whole mat doesn’t need to match the door. This striped mat draws on other colors found on the home’s exterior.

 

Welcome Mat 3: Rustic Porch, original photo

 

Think Outside the Rectangle

Many front doors feature rectangular doormats, but other options exist. The semicircle mat in the photo works nicely with the rustic rockers, porch swing, and shutters.

 

Welcome Mat 4: Garrison Hullinger Interior Design Inc.

 

Roll Out a Rug

A big, bold rug in front of the door adds color and life to this home’s entry, designed by Garrison Hullinger.

A large porch rug can also make the space feel like another room of the house. If you add a few chairs, people can stop, relax, and enjoy the outdoors. Plus, more rug means more chances for it to pick up any water or dirt from the shoes of incoming guests.

 

Welcome Mat 5: Seattle Staged to Sell and Design LLC

 

Keep It Natural

If the entry is already bursting with details, such as eye-catching hardware and light fixtures, a neutral mat will help keep the attention on them. Natural doesn’t have to mean boring.

 

Welcome Mat 6: Grandin Road, original photo on Houzz

 

Personalize the Space

This contemporary monogrammed mat is hard to miss. “Don’t be afraid to choose a doormat with personality, says Kate Beebe of Grandin Road. “Work some wit and whimsy into your entrance, and choose something that will put a smile on your guests’ faces.”

She also recommends picking a mat that covers at least three-quarters of the entrance’s width and allows the door to open easily.

 

Change With the Seasons

While you are changing the front porch decor, swap a plain doormat for a festive option.After the holidays, clean off your seasonal doormat and store it until the following year.

 

Make It Feel Like Home

Doormat options are pretty much endless, so it shouldn’t be hard to find one that works for you.

Posted on February 28, 2019 at 7:36 pm
Jon Holsten | Category: Fort Collins Real Estate, Front Porch, Housing Trends, Northern Colorado Real Estate | Tagged , , , , , , ,

A Beginner’s Guide to Managing a Remodel

Browsing photos and ideas can be a fun part of creating your dream room. But making your designs a reality also takes smart planning and organization. Project management is an essential part of remodeling, and there’s nothing like the feeling of implementing a plan to create something new and beautiful. These tips can help you achieve your desired results.

Find a Local Contractor to Create Your Dream Home

YourSpace Contractors, original photo on Houzz

Become a list writer. Making lists is key when it comes to project management. It’s the only way to properly organize your thoughts and prevent any details from being forgotten.

The most important list is your scope of work, or specifications, document. This is basically a detailed list of everything to be done, from start to finish. If you’re dealing with one main builder who’s organizing all the work, then you’ll need to make sure he or she gets a copy, so the goals are clear and all the information is provided.

Also, having detailed specifications makes it easier if you want to obtain multiple quotes, and you’ll know it’s a fair comparison since all the builders will be quoting using the same criteria.

frenchStef Interior Design, original photo on Houzz

Make sure you’re all on the same page. If you’re coordinating separate subcontractors (cabinetmaker, plumber, electrician), then it would be worth indicating who’s responsible for each task. Give a complete copy of the specifications to all of them, so they’re all aware of what everyone is doing. Discuss the specifications with your subcontractors since they may be able to provide help and advice. A schedule is also useful, so you can keep track of progress and everyone knows who’s going to be on-site on which day.

With prior knowledge that a partition wall will feature some lighting, for instance, the builders will know to leave the stud frame open for the electrician to run the wires through before it’s boarded up and plastered over. Trying to feed wires through after the fact is much harder, takes longer and risks unnecessary damage.

Sian Baxter Lighting Design, original photo on Houzz

Break into subsections. In addition to your main specifications, it’s a good idea to have sublists for each separate element of your design. For example, your main specifications may say “install 6 x recessed LED downlights in ceiling,” but your lighting specifications will detail where they are to be positioned, the type of bulb, the hardware finish and so on. The more information you provide, the more accurate your quote should be and the less likely it will be for mistakes or misunderstandings to occur. It will also minimize any unexpected costs.

This bathroom has a minimalist elegance, but it’s far from straightforward. This project would have required a builder’s spec, including layout and elevation drawings with dimensions, an electrical spec with lighting plan, a plumbing spec with layout drawing, and a decorating spec — phew!

Plan like a pro. Finalize your design before starting any work, rather than trying to do it as you go along. The process will be much more enjoyable without constant deadlines presenting themselves, and if you haven’t planned, you may find your options restricted based on work that’s already taken place.

Take a couple of weeks to put it all together, write your specifications, draw up the plans, get everything ready and make all the decisions before proceeding. This will save you time and money along the way, and significantly reduce stress levels during the project.

This clever design features well-thought-out lighting and custom cabinetry. Careful consideration would have been given to where to position the outlets, radiators, lights, switches and other details.

Yellow Letterbox, original photo on Houzz

Never assume. You know the saying. When writing your specifications or drawing your plans, never assume that someone else will know what you want unless you explicitly state it. Include every tiny detail, no matter how picky it may seem. As well as avoiding mistakes, it also prevents any disputes over what is and isn’t included in the quote.

This bathroom just wouldn’t have looked the same if white grout had been used, for instance. You may think it would be absurd to even consider using white grout in this case, but if you haven’t asked for dark gray, you can’t expect it and you can’t assume that you will be asked what color you want. White is standard, and a tiler may use it if nothing has been specified.

Stand by for decisions. Your builder will present many questions and decisions to you along the way. Which tiles do you want on the walls? Where do you want these wall lights? What color do you want on the baseboards?

Your best bet will be to try to pre-empt as many of these decisions as possible and have the answers ready or, even better, provide the information in advance. Making these decisions under pressure can lead to impulse moves you may regret later. However, taking too long could hold up the project, costing you time, money and the patience of your builder. No one wants an unhappy builder.

Inevitably, there will be some questions you couldn’t have anticipated, but if you communicate well with your contractors, they should, where possible, give you time to make a decision without holding up the project. Don’t be afraid to ask their opinion on the best course of action, but don’t feel pressured to compromise on the design if you don’t want to.

Brilliant Lighting, original photo on Houzz

Give yourself time to deliver. This is one of the classic pitfalls, so take note. When pulling your design ideas together and deciding which products and materials to use, make a note of the lead times. Many pieces of furniture are made to order and can have lead times of up to 12 weeks, sometimes longer. Similarly, tile and natural stone can take much longer than expected to arrive, and products from abroad can encounter holdups during transit.

This chandelier was custom-made for the project and looks fantastic. This is no last-minute, off-the-shelf, next-day-delivery job. It can be a huge shame if you’ve spent hours, days, weeks choosing the perfect product, but when you come to order it, you find that it will take too long to be delivered, perhaps time you can’t afford. Then you have to decide whether to hold up the work or pick something else based on the fact it can be delivered quickly.

Find a Bathroom Vanity for Your Bath Remodel

Factor in a contingency. Even when you have the very best of intentions, issues that you couldn’t have predicted may arise during your project. So it’s a good idea to factor in a 10 percent contingency within your budget for these matters, especially with old buildings. Who knows what condition the walls are in behind those kitchen cabinets before you rip them out? Or what may be lurking underneath that carpet when you pull it up?

In these situations, it’s important to expect the worst and don’t let it throw you off your game. You are a project manager extraordinaire, and you’ve totally got this. Just accept that these things happen, find out what the options are and make a decision. Your contractors will be able to advise on what to do, so harness their expertise and trust them to help you find the right solution.

Elayne Barre Photography, original photo on Houzz

Call in the cavalry. If you choose to manage your project yourself, it’s certainly an enjoyable and rewarding process, but it also takes a certain type of person. You have to be organized, calm under pressure, strategic and confident — not to mention being able to afford the time to plan, coordinate and oversee the work.

If you have qualms about taking it on yourself, then consider hiring a project manager. Yes, there will be a fee, but consider that a badly managed project can cost you time and money, and you may not achieve the results you were after. A pro will take care of everything and allow you to rest easy, knowing you’re in safe hands.

By Jennifer Chong, Houzz

Posted on February 27, 2019 at 8:00 am
Jon Holsten | Category: Buying, Home Maintenance, Housing Trends, Landscape | Tagged , , , , , , , , ,

What’s in a Condo? The In-Between Style of Home That Might Be the Right Fit for You

Condominium homes are a great, low-maintenance choice for a primary residence, second home, or investment property. This alternative to the traditional single-family home has unique issues to consider before buying, as well as unique benefits. Here’s some background information to help you decide whether purchasing a condo is a good match for you.

Increasingly, condos are not just for first-time home buyers looking for a less expensive entry into the housing market. Empty-nesters and retirees are happy to give up mowing the lawn and painting the house. Busy professionals can experience luxury living knowing their home is safe and well-maintained while they are away on business.  If you are considering buying a condominium for a home, here are a few things you should know:

Condominium basics:

With condominiums, you own everything in your unit on your side of the walls. Individual owners hold title to the condominium unit only, not the land beneath the unit. All owners share title to the common areas: the grounds, lobby, halls, parking areas and other amenities. A homeowners’ association (HOA) usually manages the complex and collects a monthly fee from all condominium owners to pay for the operation and maintenance of the property. These fees may include such items as insurance, landscape, and grounds upkeep, pool maintenance, security, and administrative costs.

The owners of the units in a condominium are all automatic members of the condo association. The association is run by a volunteer Board of Directors, who manage the operations and upkeep of the property. A professional management company may also be involved in assisting the board in their decisions. The condo association also administers rules and regulations designed to ensure safety and maintain the value of your investment. Examples include whether or not pets are allowed and the hours of use for condominium facilities, such as pools and work-out rooms. Should a major expense occur, all owners are responsible for paying their fair share of the expense.

The pros and cons of condominium living:

The condominium lifestyle has many benefits, but condominium ownership isn’t for everyone. Part of it depends on your lifestyle. Condominium living may not be optimum for large families with active kids. The other factor is personal style. By necessity, condominium associations have a number of standardized rules. You need to decide whether these regulations work for you or not. Here are some points to keep in mind if you’re considering condominium living.

Cost: Condominium homes typically cost less than houses, so they’re a great choice for first-time buyers. However, because condominiums are concentrated in more expensive locations, and sizes are generally smaller than a comparable single-family home, the price per square foot for a condominium is usually higher.

Convenience: People who love living in condominiums always cite the convenience factor. It’s nice to have someone else take care of landscaping, upkeep, and security. Condominium homes are often located in urban areas where restaurants, groceries, and entertainment are just a short walk away.

Luxury amenities: May condominiums offer an array of amenities that the majority of homeowners couldn’t afford on their own, such as fitness centers, clubhouses, wine cellars, roof-top decks, and swimming pools. Lobbies of upscale condominiums can rival those of four-star hotels, making a great impression on residents.

Privacy: Since you share common walls and floors with other condominium owners, there is less privacy than what you’d expect in a single-family home. While condominiums are built with noise abatement features, you may still occasionally hear the sound of your neighbors.

Space: With the exception of very high-end units, condominiums are generally smaller than single-family homes. That means less storage space and often, smaller rooms. The patios and balconies of individual units are usually much smaller as well.

Autonomy: As a condominium owner, you are required to follow the laws of the associations. That means giving up a certain about of control and getting involved in the group decision-making process. Laws vary greatly from property to property, and some people may find certain rules too restrictive. If you long to paint your front door red or decorate your deck with tiki lanterns, condominium living might not be for you.

Things to consider when you decide to buy:

Condominium homes vary from intimate studios to eclectic lofts and luxury penthouses. The right condominium is the one that best fits your lifestyle. Here are a few questions to ask to determine which condominium is right for you.

How will you use it? 

Will your condominium be your primary residence? A second home? An investment property? While a studio may be too small for a primary residence, it might be a perfect beachfront getaway. Also, consider how your lifestyle may change over the next five to seven years. If you are close to retirement, you may want to have the option of turning a vacation condominium into your permanent home.

Where would you like to live?

Some people love the excitement and sophistication of urban living. Others dream of skiing every weekend. Whether it’s the sound of the surf or the lure of the golf course, a condominium home affords you the ability to live a carefree lifestyle in virtually any setting.

What amenities are most important to you?

The variety of condominium amenities increases each year. Decide what you want, and you can be assured of finding it. Most urban and resort condominiums have an enticing array of extras, from spas to movie screening rooms to tennis courts.

What are your specific needs?

Do you have a pet? Some associations don’t allow them; others have limitations on their size. Parking can be a major issue, especially in dense, urban areas. How many spaces do you get per unit? Do you pay extra if you have more vehicles?

Finally, once you’ve found a property you like, examine the association’s declaration, rules, and bylaws to make sure they fit your needs. The association will provide you with an outline of their monthly fees and exactly what they cover so you can accurately budget your expenses.

Review the association board’s meeting minutes from the past year to get an idea of any issues the association is working on. An analysis of sales demand and property appreciation compared to like units may help ensure that you make the best possible investment.

Posted on February 26, 2019 at 8:00 am
Jon Holsten | Category: Buying, Housing Trends | Tagged , , , , , , , , , ,

Staging Your Home – Pink Flamingos Not Included

It can sometimes be tough to hear an agent asking you to hide your prize possessions when preparing your home for sale. I overheard two agents giving each other advice about how to politely help their sellers relocate their pink flamingo display and car collection off the front yard before putting the homes on the market.

Studies indicate that buyers decide if they’re interested within the first 30 seconds Pink Flamingoof entering a home. You get one chance to make a first impression.

Make sure your house looks attractive, well maintained and move-in ready at a glance. Before you put out your “for sale” sign, put these tasks on your to do list.

•  Get your yard in shape—Mow the lawn, trim the hedges, haul away debris, sweep the walk, porches and patio, and consider adding some potted plants or hanging baskets for a touch of color.

•  Keep it clean—Make sure your house can pass the white-glove test. Polish windows and scrub bathrooms, appliances, counters and floors until they gleam. Vacuum carpets, rugs, drapes and upholstery. Dust shelves, floorboards and molding.

• Give it a fresh coat—Paint the front door, walls leading to entrances, ceiling stains, cracks, chipped or damaged areas. A little paint goes a long way to improve the look of your home.

• Just fix it—Repair anything that needs it, including broken doorbells, torn screens, leaky faucets, broken deck railings or banisters, damaged floor tiles or doors that don’t close properly.

• Lose the chaos—Organize your rooms, closets and basement—anywhere a prospective buyer is likely to look.  And don’t forget to remove pets and litter boxes.

• Set the stage—Help prospective buyers imagine life in your house. Remove excess furniture and rearrange what remains so that rooms look spacious and welcoming. Light scented candles, play soft music, add flowers here and there, you might even bake cookies.

• Hire a pro—Don’t have time to get your house ready to show? Turn to a realtor with an ASP® (Accredited Staging Professional) designation to stage your house professionally.

Posted on February 25, 2019 at 8:00 am
Jon Holsten | Category: Selling | Tagged , , , , ,