Real Estate Information

Being prepared for natural disasters is of importance, particularly floods if you live in place where they are common. Although you may not want to think about the possibility of a flood occurring, taking a proactive stance and preparing will benefit you. Not only will you have greater peace of mind, you will be able to recover from a flood more quickly when one occurs.

Safety Preparedness

Make sure that you have a minimum three days of food and water per person. Plan for a gallon of water per day/person and non-perishable foods. Store a can opener with the food. You need at least one flashlight, along with batteries as well. A well stocked first aid kit and sanitation items such as toilet paper and feminine care items are essential to preparedness.

If you have pets of small children, make sure that you have their needs adequately covered. Diapers and formula are vital for the health of babies and toddlers. Pets require food, carriers and other essentials such as medications and identification. Do not forget to include water for them.

Keep your preparedness kit in an accessible place and discuss a safety plan with the entire family. Have a set meeting place and a backup in case of separation. Include blankets for everyone, and additional clothing, including socks and waterproof shoes.

Protecting Your Home

While land in a floodplain may be more affordable, it is not good to build on one unless you take proper precautions, such as elevating your home. No matter your location, install check valves in your drainage system. This will keep flood water from using your drains to access your home.

Additionally, make certain your electrical panel, water heater and other essential electrical systems are adequately elevated to reduce the risk of damage. Reinforce your basement with waterproofing and proper sealants to minimize flood damage.

Obtain Flood Insurance

These policies provide compensation for damage to your home and personal goods. Talk to your insurance agent about the level of protection your family will require to ensure you can get back on your feet quickly after a flood.

With proper preparation, you will feel more in control when a disaster strikes. These tips are essential to being prepared for a flood in your area.

They say not to judge a book by its cover, but people definitely judge a house by its curb appeal. When preparing to sell your home improving it's curb appeal can be fairly easy with just a few projects.

Landscaping

If you have brown spots on your lawn, your curb appeal score definitely takes a hit. Make sure you don't have pests or a weed that are causing brown spots. You may have to check with an expert to get to the source of the problem. Overgrown shrubs? Nothing looks worse than shrubs that are obscuring your windows or that look unkempt. You can usually take care of this yourself, but you may need a professional if they are hard to reach.

Exterior Paint

Make sure your home doesn't have areas that are chipped or peeling. These things are inevitable, but definitely affect your curb appeal and can lead to serious problems such as warping, mold and rotting. You can usually fix these issues yourself by sanding, scraping and spot painting, but if your entire house needs a new paint job, best call in the professionals.

Roof and Gutters

Broken or sagging gutters make a home look uncared for. Make sure you check your gutters as well as loose or missing roof shingles. Gutters that aren't cleaned out on a regular basis and repaired when needed can cause permanent problems to your home's foundation, and cause water to seep into your basement or crawl space. You can fix or replace loose or missing shingles, but if your roof has outlived its natural life, you may need to have it inspected and replaced if necessary.

Fences

If your fence is reasonably sound, but needs a facelift, rent a pressure washer and give it a good cleaning. You can replace any boards that are missing, paint or stain it to give it a fresh new look.

Curb appeal makes your home look like you care about it, and if you're trying to sell it, positive curb appeal will welcome prospective buyers to your door. If you’re thinking about selling your home and want to learn more about what steps you can take to help sell your home faster, contact the Heim-Berg Team today!

The most difficult question facing sellers is how to determine the correct asking price. No perfect formula exists to determine the exact point at which the seller can maximize his profits without pricing himself out of the market. The question is further complicated by the emotional attachment of the seller. Even so, with a little work, the Realtor and the seller can arrive together at a balance point between the greatest profit and marketability.

1) The process begins with a careful review of the data. Unfortunately, there can be so much information available that it can be confusing. Identical homes in two different locations, for example, can command very different prices. A good Realtor will help the seller navigate the maze of data and understand why the variations exist. An engaged seller will consider the reasoning behind the price decisions.

2) Continue with a walk-through. By walking through other homes on the market and comparing them to the home to be sold, it is easier to see details that contribute to the price. This is also a good opportunity for the Realtor to discuss neighborhood features, schools and other local factors that attract buyers.

3) Create an atmosphere conducive to a bidding war. This is a two-stage process consisting of appropriate staging and bringing key selling points to the forefront. Staging includes scrupulous landscaping and cleaning and may represent a financial investment. The highest price homes offer curb appeal, are completely devoid of clutter, both inside and out. It is important to pay attention to small cosmetic details like plumbing fixtures and ceiling fans. A beautiful home demands a higher price. The descriptions must include some of the details that made the seller love the home that might escape the notice of a casual observer.

4) Sever emotional ties. Nothing can distort the sellers idea of the value of the home more than the love for the changes they have made to it. It is difficult to accept that someone might want to pull up the prize-winning roses or replace the tiles in the kitchen. One way to overcome the attachment to the house is to focus on the adventures it will finance, whether for a new home or other investment.

Setting an appropriate price may be one of the most challenging aspects of the Realtor/seller relationship. Handing the process well will help build an effective partnership throughout the sale.

Are you planning to sell your home, but you don’t know which upgrades will bring top dollar? To help with this decision, do some research, have a heart-to-heart with your realtor and, most importantly, think like a buyer. In some cases, major home improvements do not generate sufficient return to cover the investment. And upgrading too many things might be a bad idea if your individual taste doesn’t match the buyer’s. But be sure to repair that leaky pipe, patch the walls, and remove the oil spill in the garage.

Kitchen Upgrade

According to the DIY Network, “Kitchen is King”. Prospective buyers often want to see the kitchen before anything else. Workspace and appliances can be critical as the kitchen often serves as a gathering space, as well as a creating space. Upgrades to outdated kitchens usually return more than 100% of the cost. Just as likely, a tired kitchen can be the difference between a sale and no sale.

Bathrooms and Showers

Bathrooms are next in the hierarchy of improvements. Minor make-overs such as counters and fixtures, mirrors, toilets and perhaps a glass shower enclosure to replace a ratty old shower curtain can make the room more inviting. Experts say that a prudent bathroom remodel should also pay off. Frontdoor.com estimates a 102% return.

Front Yard and Entry

Curb appeal is critical. Landscaping the lawn and entry by adding shrubs and flowers for color and balance to the front of the home should also bring more at closing.

Siding Replacement

Depending on the degree of unsightliness of your current siding, replacement may be important. One less expense for a future owner could yield financial benefit at closing.

Front Door

Both Forbes and DIY Network include replacing or repainting the front door in their lists of ten important considerations. The front door conveys an important impression before entering and should be as pristine as possible.

Remove Dated Materials

Eliminate wood paneling and elements that might make the interior seem dated. Freshening up a room can move the home faster and will be worth the investment.

Finished Attic and Basement/Replacement Windows

Think twice before making major renovations simply to sell sooner. These may not pay off at closing. FIY estimates that some major remodels only bring about 80% to 90% of the cost. Often buyers expect to make those major changes themselves later depending on their needs and budget.

Buying a new home is exciting but can also be a stressful event. One of the most important things that you'll do in final phases is the Final Walk-through. Don't neglect this step! You should have this meeting arranged with your Real Estate Agent at least one week before closing. Here is a handy guide on things you should know and do as you prepare.

A walk-through is your last chance to make sure the home is how you expect it to be before you take formal ownership. This isn't a home inspection (that should have already been done). If you can, do this with the sellers (this isn't always allowed). They can be a great insight on the history of the home and its past issues. Take your contract with you and refer to the various clauses on conditions as you go through the home.

Here's a simple Checklist of things to look for:

• Check the condition of the exterior, including trim, doors, windows, gutters, etc.
• Do all the light-switches work?
• Do all the outlets have power?
• Check the appliances.
• Does the HVAC system turn on and off? Check the condition of the vents.
• Make sure the water faucets work and don't drip.
• Check for water leaks.
• Flush the toilets.
• Open and close all doors and windows.
• Visually check walls and ceilings for cracks or discoloration associated with water damage.
• Make sure no materials or equipment have been left behind by previous owners or contractors.

What if there's a problem?

If you find problems with the home or conditions you didn't expect, consider if the problem is worth the disruption it will cause to dispute. Something minor, like paint on the baseboard, is something you can fix easily yourself. Even slightly more costly repairs are ones you should consider taking on your own just to avoid drawn out problems with the closing.

However, some problems are more major. If you discover a leak, for example, and you have no idea the extent of the damage, your agent should contact the seller's agent to determine an agreeable solution. Your real estate agent can help you decide which issues are worth pursuing and which are best let go.

The final step of the negotiation phase of buying a home usually includes an inspection. A home inspection is a buyer’s only opportunity to make sure that the home they are interested in is free of defects and other issues that often go unnoticed. As a buyer, selecting a home inspector is a crucial task and one where the advice of the agent may be needed. It is important to remember what to consider when choosing a home inspector.

The most important item to consider is whether the inspector has the proper credentials. In a state that requires inspectors to be licensed, asking for proof of that license in important. Even if a state doesn't require licensure, the buyer can ask for proof of training and professional memberships.

The best thing that your agent can do during this time is to reach out to other real estate professionals to receive feedback about local inspectors. Their impressions of inspectors in the area can help you find one who is reliable and thorough.

The last item to consider is how the inspector answers key questions that you ask about the services that they offer. Whether they carry insurance, what their report looks like, and whether or not the buyer is welcomed during the inspection are all important questions to have answered.

Knowing what to consider when choosing a home inspector helps ensure that a buyer is truly investing in the home of their dreams instead of a home that will provide an endless headache.

Selling a home is a time filled with plenty of emotions. Excitement, fear, joy, and stress are all things that are experienced by sellers during the process. The longer a home remains on the market, the more likely a seller is to experience these emotions over and over again. To help lessen the stress that can be experienced during the final phases, try to avoid these common negotiation mistakes made by sellers:

• Demanding top dollar for an aging home is a mistake that many sellers make. Every seller feels that their home is worth the price they've listed it at, but the reality is that older homes, that haven't been updated, have a hard time competing with newer homes. Updating the interior of a home every ten years helps make sure that the fashions of yesteryear don't detract from the home's potential.
• Buyers often use low offers as a way of communicating with the seller. Getting angry over a low offer is another mistake that sellers make. It is important to not take the low offer personally. Instead find out what the buyer is trying to tell you. Your agent can contact the buyer's agent for a list of reasons behind the low offer.
• There is no room in real estate for an all or nothing attitude. Negotiations are supposed to be a time of fluid conversation. After all, you want to keep a buyer interested. Asking questions before saying no often helps smooth over any rough negotiation patches.

While you may believe that your home is priced to sell, staged perfectly, and ready for the current market, the truth is that avoiding the common negotiation mistakes made by sellers, will help you be prepared for the toughest phase. Having an experienced, knowledgeable agent will help you navigate all of the emotions that selling a home brings.

If you decide to put time, effort, and money into making improvements on your home, you might want to take some time to consider whether or not those improvements will increase your home's value. Someday, you might decide that you want to see your home, and home improvement projects that will increase your home's appeal to potential buyers ensure you that you're thinking smart about home improvements.

When determining which home improvement projects will increase your home's value, there are quite a few different factors to consider. You want to make sure you don't cause your home to become overpriced for the local market in which it is located. If you create an expensive home in an inexpensive neighborhood, you might find it hard to get any return on investment on the improvements you've made. Of course, you should also concentrate on getting the most out of your money. Opt for the least expensive projects that will lead to the largest increases in home value. 

Another thing you can do if you want to maximize the ROI on your home improvement investment is research projects that are known to increase appeal among buyers. The following are all possible home improvement projects that regularly prove to be useful in terms of thinking smart about home improvements:

• Enhance the look of your home's exterior - Curb appeal has a huge influence on potential buyers. Consider landscaping work, gutter cleaning, replacing or repainting siding and windows, and more.
• Increase your home's energy-efficiency - Concern for sustainability and minimizing a home's carbon footprint is gaining consciousness among the general public. Increasing your home's energy-efficiently will not only make your home more attractive to future buyers, but it will also save you money on energy costs in the meantime until you decide to sell your home. 
• Redesign interior spaces - You should be taking advantage of all of the space in your home. If you have a room that you're not using, consider creating a convenient purpose for it. For example, you can create a home office from an unused extra room or you can create a media room if you have a dining room that you never use. 
• Re-facing your old fixtures - Although it can be expensive to completely remodel your kitchen or bath, you can significantly improve the appearance of these rooms by simply making small replacements of parts such as appliances, cabinets, and countertops.

It can be frustrating and stressful to deal with a bidding war once you've fallen in love with a particular property and would be devastated to lose it to another buyer. However, bidding wars are not uncommon at times when there is low inventory out on the real estate market.

If you find yourself in a bidding war, you need to come up with ways to make your offer the most attractive to the seller. Winning a bidding war is not always about offering the most money. Below are a few tips on ways you can come out victorious with the home of your dreams after a cut-throat bidding war with other would-be buyers:

• Be ready to buy right away- When a seller is eager to get to closing, they might be inclined to sell to whoever can get the process wrapped up the quickest. It's best if you are already pre-approved for a mortgage loan before you start viewing homes.
• If you really like the property, let your offer show it- Avoid making lowball offers on a home that you really like. Don't waste your time making unrealistic offers on homes that are out of your price range.
• Be flexible- Remember that you can use more than money to entice a buyer into accepting your offer. If you're flexible regarding factors such as the seller's move-out date or home inspections, a seller might be more tempted to accept your offer than other offers that are a bit higher.
• Anticipate the counteroffers- You can anticipate the counteroffers of other buyers by considering how you can surpass them with an offer that is more appealing to the seller. Think about how much you can afford to offer, what kind of monthly payment you can afford to make, and what the home is really worth to you. The more prepared you are to respond to counteroffers the more likely you will be to succeed in winning a bidding war. 

Homeowners can take advantage of energy-efficient mortgages (EEF) to finance improvement projects on their properties. An EEM, or a "green mortgage", is a loan that is meant to help pay for energy-efficient upgrades on a home that a homeowner currently owns or is in the process of purchasing. Costs for the home improvement projects are included in the original mortgage loan so that only one mortgage loan needs to be taken out on the property in question.

Although the maximum debt-to-income ratio for a home owner in regards to a mortgage loan is specified by the FHA, homeowners can bypass these rules if they qualify for energy-efficient mortgages. In this way, they can purchase a home with energy-efficiency improvements with an EEM that is higher in value than the home that they could have purchased via a traditional mortgage loan. Allowing homeowners to bypass debt-to-income ratio rules is justified with the idea that homeowners may pay more upfront, but will save money over time in lower energy costs. The process of qualifying for an EEM involves having an energy audit on a property.

Homeowners can take advantage of three different EEMs:

The Conventional EEM

The majority of homeowners who take out an EEM opt for a conventional EEM. This type of EEM allows the lender of a mortgage loan to add a certain value to the home purchaser's income that is deemed equivalent to the money that will be gained in energy savings through making any energy-efficiency renovations or upgrades.

The Federal Housing Administration EEM

Through a Federal Housing Administration (FHA) EEM, a borrower will acquire mortgage insurance for a home purchase or refinance. The costs of the proposed energy-efficiency improvements are incorporated into a homeowner's mortgage loan through an FHA EEM. However, borrowers must meet certain underwriting conditions to qualify for an FHA EEM. This type of EEM allows a borrower to borrow whichever is less: the complete costs of the proposed improvements, inspections, and report; or the lower amount between the value of the property minus five percent, 115 percent of the area's median price on a single family home, or 150 percent of the conforming loan limit as specified by Freddie Mac.

The Veterans Administration EEM

Veterans may qualify for certain green mortgages through the Veterans' Administration. Such loans typically are no more than between $3,000 and $6,000.