News

10/2/2011 - Landscaping and curb appeal

First impressions are hard to overcome. The vast majority of the time spent looking for a house is from the seat of a car. If the price is right and there is no curb appeal then it can often be difficult to even get potential buyers out of the car and into the house. When buying a house it is imperative that you look beyond the exterior of a house. By taking just a few easy steps you may be able to uncover a hidden gem.

When looking at a prospective house what is your first impression? Usually some feature sticks out in either a positive or negative way. Ask yourself what the best features of the house are and how you can enhance them and what the worst features are of a house and how you can minimize them.

Pay close attention to trees touching a house or of overgrown shrubbery. These items can make a house look sloppy just as much as overgrown weeds or mildewed roofs or walls. Your first instinct would be to assume that just because the exterior of a house is not well kept then the interior must surely also be neglected. That is a mistake. Some people have different priorities as to what is important when maintaining a house and oftentimes landscaping is at the bottom of that list.

Look for large trees obscuring an entire house. This occurs predominantly in older neighborhoods. More often than not this same house will have large overgrown bushes next to the house. If you venture past these obstacles you will usually find a house that is darker inside than it needs to be. If the rest of the house is solid then this could be a good buy. Because of the lack of curb appeal the house has not been looked at as much as other homes in that same price range. It is possible that you could buy the house for lower than the price of a nearly identical property. With an afternoon and a chainsaw after you close, you will see an immediate gain in value.

9/2/2011 - Prioritizing your “to do” list

As a homeowner it is possible to get pulled in 15 different directions when it comes to working around the house. There are always items and small tasks you NEED to get done around the house as well as other things that you would simply LIKE to get done around the house. The key is to prioritize them.

You should always begin with projects that will protect your family. These include things such as making sure the smoke detectors are working correctly in your house and ensuring there are no electrical problems with bare or exposed wires for instance. If you have cords for blinds hanging down to the floor that may be OK if you are the only one in the house, but a child could run into some problems with it.

Next you should concentrate on maintaining or fixing anything that could have a permanent effect on your house. A stuffed gutter that is sending water running down a wall and then collecting in the basement in the ceiling is something that needs to be fixed immediately. Also, if you have water running directly in through the roof this is a problem that could in the end cost you thousands of dollars. Maintain the essentials such as painting, or fixing a leaky faucet or greasing a squeaky hinge and everyone will benefit.

Lastly you should concentrate on anything that will improve your current living arrangements or the value of your home. Go ahead and tackle that brick fire-fit in your backyard. Items such as these can be enjoyed by you and your family for years to come and they will enhance the value of your property.

I’m always interested in what my customers are doing with their homes. Please feel free to keep us posted when you begin a new project.

8/2/2011 - How much do I offer?

So you have started the process of grabbing your piece of the American Dream and have decided to purchase a house. After countless home visits, scanning of the classifieds and looking online, you have found the home that is just what you are looking for. Now, how much do you offer?

Assuming you have visited several homes in the same general area and are comfortable with the neighborhood you probably have a pretty good idea what these homes are being listed for. But what factors go into how much YOU would be willing to pay? The first step is to look at the house objectively. There may have been three similar homes you looked at with three similar prices. Start off by grading these houses either as average, below average or above average.

The integrity of the home structurally is probably the most important factor besides the location. Is the foundation solid and the roof sound? Do all of the doors and windows open and close as they should? Flush the toilets and turn on the showers and faucets. How are the walls, floors and ceilings? Will the carpet need to be replaced and does all of the electricity work efficiently in the home? A well maintained home of similar square footage will command a higher selling price than a home in average or below average condition.

Even when comparing exact homes in a large neighborhood be aware of any additions or dramatic home improvements the previous owner may have completed. Updated bathrooms and kitchens as well as any room additions would obviously drive up the price. But just because the previous homeowner may have added a $30,000 in ground pool doesn’t mean that house should be selling for $30,000 more than its duplicate down the street.

An experienced real estate agent can be a valuable asset at this point. Going in with knowledge of comparable properties will allow you the needed information to make an offer that will be agreeable with both you as well as the seller. For some of the finer points regarding how much to offer for a particular home please feel free to contact us in our office at your convenience.

7/20/2011 - Bathrooms and bedrooms

When describing that new house you are looking to purchase invariably the first question anyone will ask of you is, “How many bedrooms and bathrooms does it have?” As home sizes have grown over the years some of these basic attributes have remained constant. A three and four bedroom house is typical for most areas and a house with at least a bath and half if not two and a half baths are what most homes offer because that is what most people want.

Sometimes you will find a smaller ranch where the third bedroom has been converted into a larger dining and kitchen area. While these homes can be a perfect fit for an older couple that is looking to downsize or a younger couple just starting out, that property would not be a good fit for a younger, growing family with kids. Keep this in mind when it comes to reselling that property. The same can be said for 5 bedrooms. Yes it is nice to have that extra room but most families are not that large that they need that extra room and if you pay too much for that property, when it comes time to sell it you are limiting the number of people who would be wanting to buy it.

Regarding bathrooms the typical number most families would want is two and a half. There would be one for the master bedroom and then a separate one for the kids. Then a community powder room to be used by everyone would round out the facilities. Keep in mind that many newer or older homes would have more or less than this number.

Every house from the basic starter home to an upscale executive palace should be purchased with the intent that someday that home will need to be sold. Sticking to the basics and making sure your home would fit into what most people want in a home will enable you to sell that house to a much larger group of potential customers. Please do not hesitate to contact us at our office so we can discuss the pros and cons of any particular home you may be considering.

6/8/2011 - Do it yourself lawn care

Grass! It is everywhere. Because most lawns are too small to be clearly seen via satellite in any kind of efficient manner we must rely on estimates to determine exactly how much of our surface area is covered by lawns. The latest estimates show that simple grass covers approximately 79,000 square miles of the United States. This is roughly the size of Nebraska. That’s a lot of mowing, fertilizing and watering. The question you have to ask yourself as a homeowner is whether or not you want to handle your little green oasis yourself or trust it to the hands of a professional.

Mowing can be a source of pleasure and pride for some homeowners and with increasing pressure from local governments to cut back on watering that leaves the third element of a successfully green yard – fertilizing. Your choice if you decide to chemically treat your yard is to hire a service to come out four or five times a year or to head to the local box store and purchase the fixings’ to do it yourself. The cost of doing it yourself is approximately two thirds of what it would cost if you hired a professional.

Before you determine that this is one area of lawn care that you can handle yourself, consider the positives of hiring a professional to treat your yard. If you are unhappy with how your lawn is coming along you can always contact that lawn professional and they can come out and make adjustments to the treatments you are receiving; usually at no additional expense. The chemicals a professional uses are also considerably stronger than what you can purchase at your local retailer. Some may say this is a bad thing but with today’s lawn chemicals being improved every year it is usually safe for your kids or pets to be on them after one day.

The choice comes down to cost and how much your time is worth. Please don’t hesitate to call us regarding this and any other issue you may have about your home and its upkeep. We can be reached at our office at your convenience.

5/3/2011 - How important is the yard?

The curb appeal of the house is mainly driven by the structure itself, but the lot the house sits on is equally important when determining what house you purchase. In certain parts of the country a square sized parcel of property is typical but in other areas irregular shaped lots can be the norm. In areas where the terrain is particularly hill this can be quite common. What you need to determine is how the yard fits in with the rest of your housing needs.

Large expanses of perfectly manicured grass may look particularly inviting, but if you purchase one of these mini estates plan on spending a good portion of your summer taking care of the property. A tractor may be a necessity and in some cases the existing property owner may own a tractor they would be willing to negotiate in with the purchase price. Conversely a yard that is consumed by a large in ground swimming pool may also not meet your needs for some green space out back to toss around a football. It may only be you right now but if you plan on having a family a nice yard and having enough space to move around outside is a tremendous benefit of being a homeowner.

You may also want to think hard about buying a home that is overly landscaped. Again these perfectly manicured areas can look inviting but when it is you having to weed, prune and water it could turn into a chore instead of a pleasure rather quickly.

To discuss these and other matters regarding your future home purchase please do not hesitate to call us at our office any time that is convenient for you.

4/1/2011 - What is important in your new house?

For instance, if you are someone who grew up with a swimming pool and would love to enjoy the benefits of your own watery oasis in the summer sun then make sure that you put a swimming pool on the list of amenities included with the house. An in ground pool with a landscaped back yard and complete fencing could set you back $50,000 or more if you hired the contractor yourself. Let the original owner assume that cost. Just because they put $50,000 into the pool doesn’t mean that their house should sell for $50,000 more than a comparable property.

The same could be said for granite countertops, tile flooring or exotic wood cabinets. Often a seller thinks their house will command a higher sales price because they just put on a new roof and/ or new windows. But every house needs a roof and windows so if that is important to you, then look for properties that have these upgrades and you will enjoy the benefits of these items without having to pay for them yourself.

For other ways you may be able to make your purchasing dollars stretch farther, please feel free to contact us in our office at your convenience.

3/1/2011 - Size does matter

If you take a drive in a typical residential neighborhood you will find that generally speaking most of the homes are of a similar size. When that housing plan was developed there was a certain type of customer that the builder went after and for the most part the homes will be of the same size. There are of course exceptions to this rule, but this is where you need to make sure you are making an educated purchase.

Would it be better to have the biggest house in the neighborhood or the smallest? It is quite common when driving through older neighborhoods that are typically made up of ranches to see houses with additions. You may for instance see one two story house, where some previous owner decided to rip off the roof and put on a second story, for every ten ranches. That owner had decided at one point that they liked that neighborhood so much that rather than move out of their smaller house they would double the size of their existing structure. It may have made perfect sense to them and their family, but it quite often will make little financial sense to you.

Owning an over improved house can have its challenges when it comes time to resell the property or to refinance. That 2300 square foot house surrounded by 1000 square foot properties would most assuredly carry a higher price tag than the surrounding neighborhood. Lenders like to see similar sized houses in your immediate neighborhood on any appraisal you will have done.

Instead of purchasing a home that has been over improved and is surrounded by starter homes you should consider other properties in nicer neighborhoods that may not have the amenities of some of the neighborhood homes. It is here that you can get some real value. Maybe you will be able to locate a home that is smaller for the neighborhood but whose value will be driven upward by the nicer properties in that particular neighborhood.

After you determine your needs compared to your desires these choices can sometimes be clearly seen. Buying what you need in a more desirable area is always going to make financial sense in the long term compared to buying what you want in an inferior neighborhood.

To discuss these matters further please do not hesitate to call me at my office anytime you wish. As a trained real estate professional I am concerned with making sure you are in the best home for your family now as well as when it comes time to sell.

2/9/2011 - Driveways and walkways

Procrastinating on chores around the house is the proverbial right of every home owner. In particular it is easy to get sidetracked when trying to maintain the concrete around your house. After all, concrete is as solid as, well, concrete. Something that hard should be able to withstand anything Mother Nature throws at it, but without some assistance from you, that smooth hard surface will quickly deteriorate to something resembling the surface of the moon.

Depending on your climate your driveway and walkway receives a ton of abuse during the year. It only makes sense that every year you should take a few hours of preventative maintenance. The first thing to consider is to either purchase or rent a power washer. Blasting off the mold, crud, salt, oil and daily detritus is the prudent thing to do. Putting down a commercial grade sealer that would be purchased at a contractor supply store is the next step. Avoid anything that comes from the box stores. Any professional cement worker will offer that same advice. These sealers come in various colors and will help hide any imperfections that will naturally develop over the years.

Concrete maintenance isn’t rocket science but it should also not be ignored. Investing a few dollars and a few hours worth of a Saturday and Sunday to ensure your driveway and walkways look their best will pay off in the long run. I am always interested in hearing from my customers any other ideas you may have regarding the upkeep of your home. Feel free to contact us at our office any time you wish so we can discuss what works best for you and your home.

1/21/2011 - The Top 8 things NOT to do during your loan process

The following are things to avoid doing when you are applying for a mortgage. Some of these items are common sense, but others you may not think are deal killers but in the end can cost you the best product available.

Quit your job
Buy a new car or make any other large purchases
Buy items for your new home on credit of any kind
Stop making payments on your mortgage, credit cards, etc.
Begin improvements on your home
Draw off of your home equity line
File for bankruptcy
Take advice from your mechanic or hair dresser on mortgage programs and/or rates

The last one alone has probably contributed to more headaches for your mortgage professional than any of the others. Obtaining a mortgage is not exactly rocket science, but there are certain procedures and protocols that need to be followed. Every loan is different and unless the person offering the advice is willing to step up and lend you the money themselves, then make sure you are not going to blindly follow the advice of a non-mortgage professional. I wouldn’t tell my mechanic how to fix a mysterious rattle coming from the engine, or try to cut my spouses hair, but they have no problems offering occasionally bad advice for something they have only a pedestrian knowledge of.

Please do not hesitate to contact my office if you have any questions or concerns about anything regarding your purchase.

Michael J Vernon

12/1/2010 - Clean it ... Sell it

When trying to get a house from the listing category to the sold status there are usually some blatantly obvious tips to pay attention to. I’m not talking about having a sellers overhaul landscaping or paint walls or even replace ugly old wallpaper. Yes those are always good ideas and the sellers will sometimes listen to you, the trained professional, and tackle these minor projects prior to the first showing. What I am talking about is even more basic than that and these upgrades require zero dollars out of your pocket. I’m talking about getting the house cleaned from top to bottom.

Nobody wants to be told that they live in a dirty house, but suggesting to your client that if they pay some extra attention to these details that their house may sell more efficiently then your job becomes easier as well. First and foremost is if a seller has a pet. Millions of people suffer from pet allergies and Fluffy’s cat hair can kill a sale almost as fast as Rovers droppings in the back yard. Get the carpets and furniture thoroughly cleaned and if you have heavy drapes that keep light out and pet dander in that is no good. Have your client hire a dog walker if you have to but get the pets out of the house when showing the property.

Make sure the client has exhausted all of their supply of elbow grease before showing the property to even one prospect. Scrub showers and sinks and a good dose of bleach in a stationary tub can go a long way toward removing year’s worth of stains. Get those hardwood floors shining and make sure all cobwebs are vacuumed out of the nooks and crannies. Thin out the contents of closets and have your prospect leaving a room remembering how spacious a closet is as opposed to how much junk the seller has accumulated. And make sure they don’t forget the windows.

Common sense dictates that a prospect leaving a sparkling house will think that the house is well maintained in other areas that cannot be spruced up with some elbow grease. Every little bit of positive energy helps as you are well aware. I’m sure there are many other items I am forgetting and I would love to hear what other cleaning tricks you employ. Please feel free to contact me at my office whenever you like.

Michael J Vernon

11/3/2010 - What is important in your new house?

Looking for a new house can be an exciting time. Whether it is your first starter home, a new upgrade where you and your family can spend the next 20 years or downsizing to a more easily managed property, canvassing prospective neighborhoods for your new digs will most assuredly keep you busy. Quite often it is in the details that a will separate a savvy buyer from a person who paid too much.

For instance, if you are someone who grew up with a swimming pool and would love to enjoy the benefits of your own watery oasis in the summer sun then make sure that you put a swimming pool on the list of amenities included with the house. An in ground pool with a landscaped back yard and complete fencing could set you back $50,000 or more if you hired the contractor yourself. Let the original owner assume that cost. Just because they put $50,000 into the pool doesn’t mean that their house should sell for $50,000 more than a comparable property.

The same could be said for granite countertops, tile flooring or exotic wood cabinets. Often a seller thinks their house will command a higher sales price because they just put on a new roof and/ or new windows. But every house needs a roof and windows so if that is important to you, then look for properties that have these upgrades and you will enjoy the benefits of these items without having to pay for them yourself.

For other ways you may be able to make your purchasing dollars stretch farther, please feel free to contact me in my office at your convenience.

Michael J Vernon

9/16/2010 - What is involved with an appraisal?

Looking objectively at something is difficult for something as personal as a house. However, that is the very thing that an appraiser must do. When buying, selling or refinancing a house one of the major drivers of the transaction is the house itself and in particular the value placed on it by an appraiser.

In addition to things that are not visible to the naked eye regarding a particular property; i.e. property taxes, clear title, easements, deed covenants, zoning, warranties and present and proposed assessments, there are items that are rather obvious.

These concrete factors include room counts, age of the subject property, improvements made including kitchen and bathroom upgrades, square footage, proximity to shopping, employment and schools, age of the neighborhood, general value and condition of the neighborhood as well as general condition of the property. These factors are all taken into account by the appraiser. To arrive at a market value estimate, an appraiser must consider both general and specific data as well as a comparison of similar homes. General data includes regional, city and neighborhood information and incorporates physical, economic and social factors that may influence property value.

In certain neighborhoods many of the homes are very similar if not identical. If your neighbors house sells for a certain amount and your house is nearly identical then that would be a good indicator of an approximate value for your home. However, the thing to keep in mind is that as every customer is different, so is every house different. There are times that are considered “buyers markets” and other times that are considered “sellers markets.” Two nearly identical houses could have a drastically different value based on factors other than the house itself.

In addition to the physical structures themselves an appraiser must also review economic conditions, supply and demand conditions, political or zoning factors and financing conditions. As with a lot of things there are always areas open for interpretation, but when dealing with a certified mortgage professional there will be no guesswork when determining a values property.

Michael J Vernon

9/14/2010 - Stage your home for sale!

Your favorite chair! You’ve had it for years. You have watched countless movies, read books, and viewed some amazing sporting events from the comfort of that chair. You have enjoyed the chair as you have entertained family and friends and it has served you well. Maybe it was even a family heirloom or a hand me down to start with. There may be a stain here or a tattered seam there. A blanket may even cover the especially tough to hide blemishes. If this sounds like a chair you have in your house, it may be time to retire it before you begin showing your home to prospective customers.

Now I’m not talking about refurnishing your entire house, just to pack it all up for your move. What I am talking about is using your best judgment and if you were considering replacing a worn out item, do it now before you begin showing your home. Pick out a piece that will fit in well with your new home and enjoy it now compared to later after you move.

I realize that things like this can be hard to deal with. A move is a major event and you may have grown accustomed to the comfort of certain pieces of furniture, but you need to realize that displaying your house as beautifully as possible is what is needed when selling your home. I will be glad to discuss my opinions regarding certain items in your home. I can always be reached in my office and please do not hesitate to call if you have any questions or concerns.

Michael J Vernon

8/26/2010 - What home is right for you?

Choosing the right house is and should be a bit more complicated and difficult than figuring what kind of laundry soap to buy. Before deciding which house to buy, think about your lifestyle, you’re current and anticipated housing needs, and your budget. You'll soon discover finding the right house involves striking a balance between what you need to have and what you want to have. Here are some things to consider:

1.) Do I want to purchase a single family residence or is a duplex or multi unit property a better choice? Many young savvy entrepreneurs start off in a multi unit and have someone else (the people occupying the other rental units) help them make their mortgage payment and build equity.

2.) Review how you currently live your life and what is important to you. If you love to cook, you'll want a well-equipped kitchen with plenty of counter tops and storage space. If you're into gardening, you'll want a yard. If you're planning your office at home, you may want a room for a separate library or work space. If you insist on a lot of quiet and personal space then you may want to reconsider that multi unit that looked so attractive above.

3.) Think about the future and where you want to be five years from now. If you're newly married, you might not be concerned with a school district right now, but you could be in a few years. However, even if you don’t plan on having kids or if your kids are grown and moved out, a school district is one of the main components of fair market value. Will you need to be near your parents either for them to help you or for you to help them? Thinking beyond the next day regarding this transaction is very important.

While it is easy to fall in love with a house that seems to be perfect make sure you are checking the whole picture and not just relying on your gut instinct. Take family members with you and make sure you look at as many houses as you can. Visit the neighborhoods during both day and evening hours if you find a house that especially interests you. If you do all of these things the right house for you will come your way.

Michael J Vernon

8/9/2010 - Separate your house from the pack

The idea of something being cyclical most certainly applies to the home buying and selling markets. A few years ago when rates were lower and demand was higher, the country as a whole found itself in a sellers market. Often hot areas saw bidding wars for homes and the idea of offering less than the listing price for a home was simply not even considered. Those times have changed. They will be back at some point, but for now, if you are trying to sell your home, you need to make sure your little slice of the American Dream stands out from the rest.

Assuming you have already taken the basic, common sense steps of clearing your property of excess clutter and outdated, overgrown landscaping, consider making some major improvements to your home to distance yourself from the rest of the homes on the market. The concept of being able to do this will be entirely driven by how much equity you have in your home. Converting storage space into useable living areas can make your house shine. Even doing the basics as far as finishing an area in the basement or above a garage can suddenly transform your property into the one the buyer can’t let get away. The idea is to make your house more attractive while also recouping any costs for any improvements you made. If you are sitting on a tremendous amount of equity, it may not be such a bad idea to lose a few thousand dollars, in unrecoverable improvement costs, if it means your house will sell faster than any others in your neighborhood. These are questions and scenarios that you should always feel free to discuss with me. I can be reached in my office at your convenience.

Michael J Vernon

8/2/2010 - New Web Site

New Web Site!

Newly updated website for Ligonier Valley Real Estate Co. was launched in August 2010.