Adding Value by Dennis O'Hagan

Just The Facts...

Hardwood or Carpet???

Holiday HUMOR...

Thinking of Selling Your Home???

Before you sell your home, you need to understand the finances involved in the process. This will help ensure you have a smooth transaction and set you up for success with your next home purchase. Here are the three most important questions to ask yourself before you get started:

What are the current market conditions?
As a general rule of thumb, the best time to sell is when listing inventory is low. More buyers vying for fewer houses means you’ll likely get a better deal for your home. When listing inventory is high, buyers have more options and you may need to price your home more competitively to get offers.

How much can I reasonably expect to get for my home?
Depending on the current market, the condition of your home, and how much homes similar to yours sold for recently, I can create a comparative market analysis that will give you a good idea of how much you could expect to get for your home. 

How much do I owe on my home?
If you owe more on your home than it’s worth, it may not be a great time to sell. However, if you’ve built up a good amount of equity on your home, you could be looking at receiving a large check for selling your home. Take the amount you expect to get for selling and subtract how much you still owe to get a basic idea of how much you could walk away from the closing table with.

Figuring out if it’s the right time to buy or sell a home can be tricky. If you have questions or would like help figuring out when the right time to move is for your family, let me know. I’ll be glad to help!

Real Estate HUMOR...

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Staging Your Home To Sell...

Thinking about listing your home for sale over the next few weeks?  Here are ten ways to stage your home to make it presentation perfect for that first showing.

1. Keep a Clean House
   A clean home is an inviting home. You'll want to get your home professionally deep-cleaned from floor to ceiling. As the home is shown, you'll also need to do a little light sweeping, mopping or vacuuming to ensure it looks and smells great for the next showing.
2. Lose the Clutter
   A home is staged so buyers can envision themselves living in the space. Depersonalize all of the rooms by removing photographs, mementos and other objects that display your personality or identity. Some buyers will have trouble seeing themselves living in a space that feels like it's still your family's home.
3. Rethink the Space
   Get creative with your staging and move furniture around to enhance each room's appearance. Moving your living area or bedroom furniture into different configurations can help make a space feel refreshed and maximize its potential.  
4. Lighting, Lighting, Lighting
   Believe it or not, lighting can really make or break your staging. The way natural and artificial light interacts with spaces and colors can really transform a home. Make sure you replace your old lighting with new LED bulbs. You'll also want to open all curtains or blinds to let natural light shine through and liven up the space.
5. Repair or Replace
   Let's be honest, every home needs a little work. Now is the time to finally knock out that to-do list by either repairing or replacing the elements of your home that show years of use. Fix that wobbly fan, those squeaky doors, and those jammed windows. Replace old fixtures like faucets, cabinetry handles and even scratched electrical outlets with brand-new items that enhance the look of the home. Remember, every little detail counts in the eyes of a buyer!
6. Neutral is Always Nice
   When in doubt, always stay neutral. This includes everything from paint colors to décor. Not all buyers will be as attracted to certain colors or patterns, however, a neutral color scheme throughout the house will give them a blank canvas to apply their own aesthetic to.
7. Remove Evidence of Pets
   Although your prospective buyers may also love pets, evidence of pets living in a home can be a major drawback for some buyers. They may assume that there are smells, stains or scratches throughout the home that have already soiled their first impression of the space. Remove all toys, odors and other signs that your furry friend called this house a home too.
8. Don't Forget About Curb Appeal
   Staging is much more than just the interior. Your exterior should also be staged appropriately. In fact, many real estate agents will tell you that curb appeal is one of the most important factors in selling your home. Head outside and tidy up your lawn, driveway, backyard and surrounding property.
9. Don't Over or Under Stage
   It's easier to over-stage your home than to under-stage it simply because most sellers believe that you can never have too much of a good thing. However, an elaborately staged home that looks unnatural is just as bad as an under-staged home that appears neglected. Make sure you're staging the home in a balanced way. Focus on rooms like the common areas and limit your staging in places like bedrooms and storage spaces.
10. Ask for Outside Advice
    Remember, you're not alone when selling your home. Your real estate agent will be happy to help you stage your space. You can even hire a professional staging company to ensure that it looks as presentable as possible.

Home Staging Tips to Avoid...

When you're selling your home, you'll want to make the best possible impression on everyone who sees it. Staging can help your home sell faster and for more money than it would otherwise. It lends a very human touch to an empty house that many buyers connect with. It also helps buyers see how living in that home could be for them. Staging doesn't always come naturally, so beware of these five common home staging mistakes.

1. Keeping the decor too personalized. 
   Everyone loves being able to add their personal touches to their home. But once you decide you're selling your home, it's time to go neutral to make it as appealing as possible to as many potential buyers as possible. Remove items like personal collections, most of the family photos, vacation souvenirs, and custom artwork. Paint over bold wall colors with a neutral color.
2. Having nothing exciting or memorable about the rooms. It's true you have to go neutral, but don't overdo it. Having no style, contrast, or visual interest in a room makes it seem cold, sterile, and unmemorable to buyers. You can use texture and finishes, along with an accent color to add visual interest.
3. Use the 60-30-10 rule. This applies to your color choices, so your room looks put together and exciting without going overboard with color. Your main neutral color should be 60% of the visual of the room, your other neutral 30%, and the accent color as 10%.
4. Outdated window treatments. Windows are such a prominent part of a room; if you leave them with outdated window treatments, it will immediately attract the wrong kind of attention. Luckily there are plenty of affordable options out there that will compliment any room.
5. Staging multi-use rooms with more than one use. If you have an extra room that could have a variety of uses, pick one for staging purposes. Nobody will be impressed with a treadmill in the middle of the office, or a reading nook in an exercise room. It helps to know what kinds of buyers you're likely to see in your neighborhood. Growing families might appreciate seeing that room as a child's bedroom. Single buyers in their thirties might like to see an office.

When selling your home, a little staging effort can go a long way with potential buyers. As long as it's done right, staging will help sell your home, and you'll be glad you took the time to do it.

Things To Consider Before Buying A Fixer Upper...

When you're buying a house there are lots of decisions to be made. One of those decisions is whether or not you're willing to purchase a fixer-upper. You're sure to find plenty of examples glamorizing the fixer-upper experience, and it can be tempting to want in on the action. You've likely heard tons of stories about incredible deals people got because their home needed a little work. Not to mention all those TV shows where houses no one could even lives in gets turned into something worthy of a magazine spread and sold for top dollar. Fixer-uppers can definitely be an amazing find, but before you dive in head first, weigh the pros and cons to make the right decision for you.

Pros

• Fixer-uppers are usually discounted. Fixer-uppers generally have lower asking prices and do sell for less than move-in ready homes. There is often less competition too.
• You can remodel the way you want. You don't have to hope you find what you want. You have more control over how the home looks, feels, and functions when you're the one in charge of the remodel. You can spend your money on what's important to you.
• You may be able to afford a larger home or a different neighborhood. Since fixer-uppers tend to sell for less even in the most desirable neighborhoods, your purchasing dollar can go further.
• Ensuring the repairs are done right. You'll have control over the repair process so you don't have to worry about the quality of materials or workmanship. If you think the contractor is cutting corners, you can hire someone else.
• Remodeling boosts your property value immediately. This can be a plus if you're planning on living there only short term or looking at buying a house for an investment property.

Cons

• Your home isn't move-in ready. You'll have to wait until construction is finished to enjoy your new home or rent it out. That can impact your budget.
• It's a lot of work. Whether you plan to do it yourself or hire contractors, there is a lot of effort involved. Not everyone is willing to take it on. Being honest with yourself is the best strategy here.
• Remodels can easily go over budget. It's not unusual for any kind of remodel to go over budget. There can be unexpected surprises, additional costs, or design changes. It's a good idea to leave room in the budget for additional costs.  
• There's a risk of ending up with a bigger project than you planned. In some cases, it's just not possible to know the full extent of repairs until the job is in progress. That can negatively affect your budget and timeline for repairs.
• You may overestimate your DIY skills. Often when someone is buying a house, they plan on doing some projects themselves. Especially for first-time buyers, it can be easy to underestimate how much work a project is or how much time you'll have to do it. Additionally, some repairs may require hiring a contractor to comply with local ordinances.
• It can be harder to get financing. The current condition of the home and types of repairs needed may mean it's more difficult to get financing or limit your financing options.

When you're buying a house, you need to look at the pros and cons to make an informed decision. And that strategy is even more important if you're planning on purchasing a fixer-upper. But doing your homework, getting estimates and budgeting appropriately may make that decision the right one for you.

Reasons To Buy vs Rent...

While renting a home is a rite of passage for most people, there comes a time when most of us get tired of stroking a check to the landlord every month. If you've started thinking about joining the 65 percent of Americans who own their own homes, you'll be glad to know that now is a great time to do it! 

Not sure if you're ready to take the leap into homeownership? Check out these five huge advantages of buying a house over renting.  

1. It's a Great Long-Term Investment
   It's true that buying a home adds some expenses you won't have as a renter. You'll have to pay for things like closing costs on the mortgage, taxes, insurance, and maintenance expenses. However, when you're paying down your own mortgage instead of paying monthly rent, you're investing in your future.  Buying a house allows you to build equity that you can later pull out if you need it. Owning a home also gives you an asset that you can sell when you get older or pass onto your loved ones. 
2. You May Qualify for Tax Benefits
   Although tax laws are complicated, many homeowners are able to take deductions for the mortgage interest they pay. This gives those who buy a home a clear advantage over those who continue to rent. 
3. Buying a House Give You More Control
   When you sign a rental lease, there are usually a ton of stipulations you'll need to follow. You may not get to decide what color to paint the living room or whether you'll add a dog to your family. Want to put a pool in the backyard or add an extra bathroom? If you rent, you're out of luck. Buying your own home gives you the power to make all of these decisions and more. You can control the landscaping and all of your home's interior and exterior features. You also get to decide who stays in your home with you, and for how long. 
4. Homeownership Gives You More Security
   As long as you make your mortgage and property tax payments on time, no one can throw you out of a home you own. As a renter, however, there's always a chance that the property owner will decide to sell the property, and you'll have to move. When this happens, it's almost never at a time that's convenient for you.
   
   There's also the chance that your landlord will eventually raise your rent as the cost of living continues to rise. Homeowners who have locked in a fixed mortgage payment are creating extra stability in their lives. While your homeowner's insurance, utility expenses, and property taxes will likely rise, you'll at least have the peace of mind in knowing that your mortgage payment will never go up. Even better, once you pay off the mortgage, you can eliminate that expense from your budget. As a renter, you'll never have that opportunity. 
5. You'll Feel a Huge Sense of Accomplishment
   For many people, buying a house is one of the biggest accomplishments of their lifetime. You'll be able to feel proud of what you've done, and know that you've done what it takes to make your dream of owning a home a reality!