Wednesday, August 26, 2020

Get DIY Inspiration to Makeover Your Home


I know many areas of the country are seeing a dearth of inventory, making it challenging for homeowners to up- or down-size their home. Many are choosing, instead, to renovate their current home. Save money with some do-it-yourself home upgrades. Check out these sites to get inspired and glean some project ideas to spruce up your nest!


I would love to help you with your real estate journey. 
Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

Tuesday, August 25, 2020

Comparing the Candidates: Real Estate Issues

To say that there are strong feelings about this year's election would be an understatement. There's a lot to pay attention to, but let's take just one issue today and break it down. How do Trump and Biden approach housing issues?

Discrimination

  • Trump repealed the Affirmatively Furthering Fair Housing Rule, which requires jurisdictions that receive federal housing funds to assess any patterns of discrimination and plan to diminish them. Advocates say that the rule gave HUD the teeth to enforce provisions of the Fair Housing Act of 1968. Trump pursues actions that generally loosen regulations for various industries, and has stated that the AFFHR represents further government encroachment.
  • Biden, on the other hand, plans to use legislation to enforce fair housing policy, although he does want to prohibit certain local exclusionary zoning laws. He's interested in creating a Homeowner and Renter Bill of Rights to add more consumer protections in the lending process and housing access.

Affordability

  • The AFFHR repeal also broadens the definition of affordable housing and allows jurisdictions more leeway to decide what actions they need to take, if any. HUD Secretary Ben Carson says it will reduce the barriers to compliance for cities and developers. Critics say the subjectivity will scale down efforts to provide affordable housing. Trump's 2017 tax cuts also included incentives for developers to build in "opportunity zones." 
  • Like Trump, Biden takes a supply-and-demand approach to housing affordability. He has stated that he would invest $640 billion over the next 10 years to both provide direct financial assistance to consumers and increase support of other initiatives that address efficiency and accessibility.

Taxes

  • Trump's tax plan also limited the amount of state and local property taxes that people could deduct on their federal tax returns. The effects of this action were predominately felt in higher priced housing areas such as New York and San Francisco where mortgages regularly exceed the new cap.
  • Biden has said, if elected, her will roll back Trump's tax cuts. He has also mentioned enacting a $15,000 tax credit for first-time homebuyers.

Renting

  • The administration mandated a 4-month moratorium on evictions for federally assisted properties during the COVID crisis. His most recent order did not extend the moratorium but encouraged landlords to try to find ways to work with tenants to allow them to stay.
  • Biden would encourage localities to create "eviction diversion programs" including mediation and payment plans. He would also like to provide tenants facing eviction with legal assistance. He is calling for rental relief for those suffering from the coronavirus.

Homelessness

  • Trump has been very vocal in his criticism of the California governor and mayors in their handling of the homelessness crisis in that state. The coronavirus relief packages included nearly $3 billion in homeless assistance funding. 
  • Biden is taking a "housing first" strategy to address homelessness, calling for housing funding, vouchers and special programs for certain groups like veterans and the disabled.


I would love to help you with your real estate journey. 
Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

Monday, August 10, 2020

5 Questions to Ask When Buying a House

Visit houselogic.com for more articles like this.

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I would love to help you with your real estate journey. 
Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

Tuesday, August 4, 2020

Getting Your Property Ready to List

When I visit my clients' homes with my stager, I make sure to tell them that how you stage a home to sell if much different than how you live in it. Our goal is to make the broadest appeal to the most buyers as possible by decluttering, neutralizing colors/styles, and addressing repairs.

As a seller, it's in your best interests to know your property's weaknesses before being surprised by buyer feedback or inspection requests. Your agent should give you her opinion on your market challenges, such as backing to a busy road or having outdated finishes, and help you adjust your listing price accordingly. I always recommend that a seller pretend they are a buyer and walk around and through their house with a critical eye, trying to find anything a buyer could pick on. Often we live in our house and don't notice little things like missing trim or a leaky faucet. Not only could these things possibly result in a lower contract price but they can make the buyer wonder what else in the home has not been maintained that they can't readily see.

It's important that your major components are functioning correctly, like your HVAC system, roof, plumbing, etc. Buyers almost always ask for the HVAC system to be cleaned and serviced, so you might as well get it done before listing. This way, if you discover a needed repair you can also take care of it right away - if the buyer finds it during inspection, they may request a whole new system or a significant monetary credit. If you think there may be hail damage to your roof, you will then have time to put in a claim to your insurance company. A brand new roof is a great thing to advertise to potential buyers. If your systems are old but functioning fine, offering a home warranty for the buyer's first year may give them some peace of mind.

Some areas, like many of our Colorado neighborhoods, have issues with expansive soils. These can present as cracks in the drywall, sinking sidewalks, heaving garage floors, or worse - foundation cracks and shifting structures. Many properties here have cracks in their garage floors or walks, and sometimes it may be a good idea to have them mudjacked or repoured. If you've had to address structural issues in the past, it's worth it to hire a structural engineer for a current report that says everything is still performing well. Structural issues are the biggest red flag that buyers run away from, so doing your homework ahead of time will save you time on the market and dollars on the table.

Minor repairs may not seem like a big deal to some sellers if they've been living with them for a while. It's a used house, after all, but these are the kind of things that make buyers wonder if you have paid attention to regular maintenance. Plus, they are fast and relatively inexpensive things to take care of yourself or hire a handyman to do. Scrape and retouch any peeling paint on trim or siding. Make sure your toilets are tight to the floor and your downspouts have extenders. Remove moldy caulk and tighten that loose railing. Paint that red accent wall white and cover the exposed weedblock with more mulch.

If you tend to have a lot of furniture or accessories, removing everything you don't need for the next few months is the way to go. You're going to have to pack it sooner or later, so doing it now will allow buyers the mental space to picture their own furnishings in the home. If you have an off-site place to store things that's ideal, but the garage will work in a pinch. Just be sure that buyers can get into the garage and see the floors and walls during inspection. Having a few family photos up in okay, but take down that gallery wall in the hallway and fill all the nail holes. Remove religious or political items, and hide the deer heads in the basement for now. Stagers can help you rearrange furniture so that the rooms looks as big as possible, and add artwork and color to the spaces to give it a final polish before photographs and showings. 

Everyone wants top dollar when they sell; using a critical eye and being a ruthless buyer for a few minutes can help get you there. My stager and I are happy to come to your home and help you make a to-do list, even if you aren't going to be ready to sell for a while!


I would love to help you with your real estate journey. 
Please contact me at 303-917-7143 or robbin@elevatedrealestate.com