By Erica Christoffer, multimedia Web producer, REALTOR® Magazine
Looking for quick, easy ideas to bring a home to life, add value, or prep for sale without spending a lot? Learn from the pros! Designers who presented at the International Builders’ Show in Orlando last week had a plethora low-cost, chic ideas to make to most of an interior space.
1. Transform closets: Your clients might consider turning a smaller, awkward closet into a built-in with cabinetry and shelving, or if there’s enough space, even a desk nook. Add dramatic dimension with disc lighting on each shelf. Buyers are looking to maximize every inch of a home with workspaces and storage solutions they’ll actually use. (Jerry Collin, Kay Green Design) [Here are some great before and after closet transformations from Real Simple.]
2. Create a ‘Garage Mahal’: Make the garage an attractive space with a dedicated recycling area, wall mounted shop-vacuum, and maybe a mini (or big) refrigerator for adult beverages. When in doubt, hang it up – provide hanging areas for bikes, tools, equipment, etc. Consider installing a workbench and storage. (Jillian Prichard Cooke, DES-SYN)
Example of a grey color scheme in a great room.
3. Avoid seasonal colors: Greys and stone colors are the new neutrals. Accent them with bursts of bright blues, oranges or reds. (Marc Thee, Marc-Michaels Interior Design)
4. Provide simple luxury: A foldout cabana, two outdoor lounge chairs, and a small table is an inexpensive way to give a backyard living space a sense of luxury. Stage it with candles, flowers or cool drinks (iced tea, lemonade, water, etc.) that you can serve during an open house. (Jillian Prichard Cooke, DES-SYN)
5. Set the mood: Do you have a listing that flushed in harsh light throughout the house? Try halogen narrow spot bulbs to create warm, pooled light for romantic shadows and definition. (Marc Thee, Marc-Michaels Interior Design)
6. Faux wood: Textured wall finishes add weight to a space, which can provide warmth and richness to great rooms. Wood mimicking wallpaper is a great way to get the look of wood paneling without big cost or long-term commitment. (Marc Thee, Marc-Michaels Interior Design)
7. Inexpensive creativity: Molding brings depth and clever detail to a space a low-cost: for example, use molding assembled as a square over a bed with two smaller pictures hung side-by-side within the square. (Jillian Prichard Cooke, DES-SYN)
8. Give them room for thought: Create computer-generated room layout boards to help buyers envision various uses for flex space, such as a family room, office, kids’ play area, library, etc. Consider matting the floor plan ideas for a professional presentation. Works well for new- and existing-home sales alike. (Jerry Collin, Kay Green Design)
Foreclosures can offer big bargains, but buyers need to be careful that they don’t get over their heads in purchasing a home that may need more repairs than they bargained for.
Foreclosures are usually sold as-is, and homes that are left vacant standing too long can have a lot of maintenance problems.
Real estate experts suggest buyers consider the following questions:
1. How long has the home been vacant? Be cautious of a foreclosed home that has stood vacant for more than a few weeks or had its utilities shut off a long time. Marvin Goldstein, a home inspector for many foreclosed properties, says a home can deteriorate quickly when heating, cooling, electricity, and running water have been turned off for awhile.
2. How old is the home? Goldstein says that homes that are more than 50 years old may have a failing plumbing system or inadequate electrical wiring.
3. How does the home look? Are there broken windows, gutters hanging down, or damaged siding? “Trust your instincts. If the house looks bad from the outside, it's probably worse than you think,” Goldstein told The Oklahoman.
4. Is there anything missing? Sometimes former owners remove anything of value from the home, such as built-in light fixtures, bathroom tile, water heaters, air-conditioning units, and hardwoods, says Bill Jacques, president-elect of the American Society of Home Inspectors.
Housing experts encourage buyers to get a home inspector to look at the property, even if it is sold as-is, so that home buyers know any repairs needed and cost estimates before they purchase the home.
“Buying a bank-owned home gives you the opportunity to enter the market at a very low price level,” says Dorcas Helfant, a past president of the National Association of REALTORS®. “You can find terrific values among foreclosures, especially if they're not in too bad shape. But, remember, these houses are discounted for a reason.”
Source: “Foreclosed Homes May Need Extensive Repairs,” The Oklahoman (Jan. 28, 2012)
By Melissa Dittmann Tracey, REALTOR® Magazine
It’s bold, bright–and orange. Tangerine Tango is this year’s color of the year, according to the Pantone Color Institute. The reddish orange color takes the place as this year’s hot hue replacing last year’s reddish pink Honeysuckle.
Need an extra energy boost or an attention-getter in a room? Then Tangerine Tango is your pick, according to Pantone.
Yet, “sophisticated but at the same time dramatic and seductive, Tangerine Tango is an orange with a lot of depth to it,” Leatrice Eiseman, executive director of the Pantone Color Institute, said in a statement. “Reminiscent of the radiant shadings of a sunset, Tangerine Tango marries the vivaciousness and adrenaline rush of red with the friendliness and warmth of yellow, to form a high-visibility, magnetic hue that emanates heat and energy.”
Orange has grown in popularity the last few years in fashion. But before you start swapping out orange for everything in home interiors so you can be on trend, recall some of of our previous posts at Styled Staged & Sold: “Orange You Glad You Removed the Carpet?” or “Is That House Orange?! Eyesores Reach New Levels.” This year’s color of the year is best done in moderation when it comes to home interiors.
Photo Credit: Pantone Color Institute
For example, patterned home accessories featuring the color can add an extra pop to pillows, bedspreads, or tabletop accessories. Or, some home owners are even choosing the orange color for kitchen appliances for an extra colorful touch. Or, Pantone suggests, maybe even a painted accent wall in Tangerine Tango can create “a dynamic burst of energy in the kitchen, entryway, or hallway.”
Last month President Obama signed into law the Temporary Payroll Tax Cut Continuation Act. This Act uses increased guarantee fees (aka G-fee) on new mortgages to pay for reduced payroll taxes. The amount of the g-fee increases will be included in future mortgage costs.
As a valued client, I feel it’s important to keep you updated on critical updates within our industry that could affect your mortgage planning. The Temporary Payroll Tax Extension will increase mortgage costs on loans that are slated for delivery to Fannie and Freddie. This would include the vast majority of loans that are not government or Jumbo loans.
Mortgage lenders will factor in these higher costs within the next couple weeks. Bottom line, rates will likely increase due to this fee.
If you are thinking of refinancing or purchasing and want to avoid paying for the country’s Temporary Payroll Tax Extension over the next 15-30 years give us a call as soon as possible.
I have also attached a news link below that covers this topic.
http://www.housingwire.com/2011/12/29/freddie-fannie-to-raise-g-fees-in-april
Sincerely,
Chris Hutchens
Wow, what an amazing year it has been! We have just found out Masonboro Realty, Inc. finished 2011 as the 35th ranked company in real estate sales from our area. This ranking is out of 205 member companies in our local MLS. In 2010, Masonboro Realty ranked 49th.
We have over 23 years of real estate experience in the local market which gives us the local edge. Each of our clients are treated as if they are a member of our own family. We even refer you to mortgage lenders and other service providers who also treat you like family.
We are very grateful to our clients and our team for this success and we are looking forward to a successful 2012.
If you, or anyone you know, are buying, selling, or even looking for an investment property, be sure to give Masonboro Realty a call.
Contact one of our preferred Mortgage Professionals:
Chris HutchensCertified Mortgage PlannerAlpha MortgagePhone: 910.256.8999 Fax: 910.795.4267chris.hutchens@alphamortgage.comwww.CHutchens.com
OR
Libby TamsonLoan OfficerPrime LendingPhone: 910.452.3400 Mobile: 910.540.7597ltamson@primelending.comhttps://lo.primelending.com/etamson
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