Attracting buyers with spa like interiors

Spa like decorating is what the majority of buyers are looking for today. I tell my sellers to have their homes immaculately clean because buyers love a sparkling clean home. It is as though they believe if they move into the house, it will stay that way on its own. We wish that were true, but there is a great energy and calm that comes with tidiness.

Buyers now not only want the home to be squeaky clean, they want to have a spa like ambiance. It is easy to recognize, but not everyone can define it much less try to emulate it in their own space. People want to come home to a relaxing retreat and this is one way they can get that.  Here are my recommendations on creating a spa like quality in any room:

• Minimalism rules the day, rooms should be underfurnished and furniture undersized for the space
• Absolutely no clutter: no brick a brack, no collections, no book shelves, no stuff in view and no throw pillows
• Functional storage that looks nice. Put items out of view and into bins or baskets that match
• Neutrals and pastels in shades found in nature.  Just one item of bold color will ruin the entire look
• Lots of natural light
• No window treatments, frameless glass
• A mix of natural materials: wood, stone, cork, bamboo, pebbles, grass
• Anything that makes a trickling water sound
• Lighting with dimmers and under-lit cabinets
• Candles, soy or beeswax, of course
• Relaxing music

  You may not be able to do it all but a fresh coat of paint and de-cluttering are almost free.  You will be surprised how much that alone will do.

Raleigh housing outlook improves

Click for report link:  Jan 2012 market data

Triangle market data reports are now available for the first month of 2012 and the positive trends that we saw the last quarter of 2011 are continuing. New listings declined another 2% further decreasing an already anemic inventory while pending sales were up 28% over the dismal 2011 numbers. The number of sellers getting to the closing table also increased with over 6% more closings than a year prior.

Inventory is now below the 2010 levels. Buyers should take notice that the Raleigh housing affordability is up 16% and this is one statistic that I believe will be a short lived opportunity. We have been getting so much good press lately and topping so many “livable” lists that people are moving here.

With this data in mind, buyers could very likely have already missed the bottom. Sellers, it appears will be poised to start realizing some equity gains in the coming year or two.

Is your house making a good fashion statement?

Home style is like fashion; the styles they are a changin’. McMansions and split level homes are “oh so yesterday”. A recent yahoo survey of homebuyers listed the multi level home as an obsolete floor plan. Can you say nail in the coffin? When I was starting out in real estate an obsolete floor plan was a four bedroom one bath home and we know what happened to them. I always thought the merits of the split plan were nice; lots of privacy between the living areas and you never travel an entire flight of steps. We all envied the Brady Bunch and their father/archetect custom design, ok, that brings in into perspective.  But a friend of mine summed it up perfectly for me this year when she said they need to move because she is up the steps all day no matter where she goes or what she does in her split level home.

What buyers want today are contemporary styled homes with open floor plans and rooms that do double duty. Homes that live larger than they are with energy saving features get top honors. Spa like decor punctuated with concrete, glass, granite, stone, wood, cork or bamboo are getting lots of attention. Also, ranch homes are gaining the popularity with all demographics, especially empty nester baby boomers.

My message here to buyers…avoid buying a very large home, especially if it sticks out in the neighborhood or is oversized for the lot and don’t even look at split or multi level homes unless you love them and plan to live there forever.

For the seller who is trying to sell a McMansion or split level home…all is not lost. Get right with adding green features and spa-like decor. If you aren’t sure what that means, check back next week as it will be the subject of my next blog post.

Lastly, any home will sell at a price.

Seller disclosure…just what is a material fact?

I showed a property recently and upon further consideration, the buyer learned from someone who lives in the neighborhood that the owner had committed suicide in the home and thus the reason for the bargain price. She asked me if the seller was required to disclose this and in NC, this is not considered to be a material fact. Material facts are things known by the owner that must be disclosed. If someone died or even if there was a violent crime in the home, is not a material fact and the seller is not required to disclose. Satanic worship, poltergeists and hauntings…not a material fact. So, what is a buyer to do?

I recall an extremely awkward moment at a book club meeting where a neighbor said to me, “ok, give me the low down on the previous owner and the circumstances of her death in our home”. I honestly didn’t know and the other neighbors who did know did not want to tell the story. Eventually, one of them told her that she had passed away in her sleep in the master bedroom. I think I would prefer not to know about it. For her though, maybe she imagined something worse. The knowing didn’t change anything; they didn’t move, they had no problems with the home and they still live there some 5 years later.

People die everywhere and many people live in homes where a loved one has passed away. It is not a deal breaker for all. For many though, they may find it troubling or even unsettling to live in such a place.

If you want to avoid this kind of history, you could begin by checking the newspapers and googling the address to see if the property ever made news. You can also investigate why the home is on the market. If the circumstances seem unusual, for example, if a family member has inherited the property, this could be a reason to further investigate.

True material facts like a leaky roof or foundation settling are really something to be scared of. It would be great if all sellers had to tell everything they knew about the house, but for now, you will have to be satisfied that the state only makes them tell the stuff that affects the condition and use.

Raleigh ranks as “top real estate market to watch”

NC State Capital in downtown Raleigh

Raleigh was ranked at the top of the list by Innman News for best real estate market to watch. Of the top 10 cities, I observed a common thread; all have unemployment below the national average.  Three of the top ten were state capitals.

The Raleigh population continues to grow as more jobs are expected to come to the area in the next two years. I’ve been blogging about the uptrend we are seeing over the second half of 2011.

Read the entire story here:  http://www.inman.com/reports/markets-watch2012/raleigh

Also worth noting, is the foreclosure rate in raleigh is less than half the national average.

Reduce your pet’s carbon pawprint with a little common sense

Oreo gives this post "two claws up"

Reducing the carbon footprint of your pet, or as I titled this post, “carbon pawprint”, I admit, sounds a little “ruff”. After all, Americans love their pets and a trip to any pet supply store is a testament to just how big this business has gotten.

It is not that much of a stretch when you think about it. While your pet may make your life easier, pets also impact the planet in a negative way. The days of believing pet waste is fertilizer are long gone. Now, considered a major polluter of groundwater, responsible pet owners are called to get the scoop on poop.

Here are my tips for reducing your carbon pawprint:

• Buy quality pet food from a US plant (my pets are on Nutro)
• Clean up after your pet with recycled plastic or corn based bags
• Eliminate treats made with corn sugar or even try making your own
• Eliminate all pet foods and treats that contain food digest or meat by products
• No compost pile: no problem. Dogs are omnivores and they will eat your leftover including vegetables and fruits
• Use clay free kitty litter
• Recycle pet food packaging
• Use metal or ceramic pet food dishes
• Give your pet toys that are home made or at least made from natural materials
• Pay attention to ingredients on shampoos and flea and tick treatments
• Go organic on lawn care, when pets lick their feet they are licking off lawn chemicals
• Spay or neuter your pet
• Microchip your pet so that if they get lost, they won’t take up days at a shelter

I realize this post doesn’t have much to do with real estate but pets are part of our home and our lifestyle. I hope this blog post gives you “paws”.

NC historic property tax credit and renovation tax deduction for historic homes

Historic home renovations can offer a home owner incentives and tax credits that provide unique benefits when investing in historic propery. There are two different things here: a tax credit (reduction in property tax) when your home registered as a historic property and the second is tax credit for money spent on renovating a historic property.

I recently attended a neighborhood meeting within my community, Historic Oakwood, where these two things were discussed and neighbors generously shared their insight and experiences. If you are confused; no worries. At the end of the meeting, the one consensus is this is a complex, complicated subject. However, most of the neighbors who went through it said that it is not a difficult process, just a lot of detail work.

The renovation tax credit is given in increments of 25,000 improvements to historic property. Owners may apply for this credit multiple times. The improvements must protect the historic integrity of the home. It is also important to know that you will need to provide before and after photos and architectural drawings.  Projects that change the historic features will be denied. For example, they prefer damaged clapboards be replaced versus residing an entire facade. If you are hoping to remove the wall between the kitchen and dining room, forget about it. In order to get this tax credit, you will need to restore original features and floor plans.  The review board is looking for whether a feature or improvement is “contributing” to the historic integrity when they approve or deny a project for the renovation tax credit.

The take away is to do your homework.  Review all paperwork in advance and ask questions before beginning construction if you plan to take advantage of this tax credit.

Wake County real estate market data shows continuing improvement

The Wake County real estate market data for December 2011 is available and the positive trend continues for the fifth month in a row. It seems there is nothing but good news about Raleigh lately; creating the chicken or the egg debate. Is the market improving because Raleigh is experiencing so much good press or is the city getting good press because the market is strong? Either way, it is all good.

The trend of increase in the number of closed sales and increase in median home prices continued, a trend that began in August. Inventory continues to decrease, which is making it harder for buyers to find a home they want and easier for sellers to find a buyer for their property.

If this trend continues, we could see a move away from the current buyer’s market to a more neutral market with shorter days on the market for sellers.

Read the stats here and let me know if I can answer any questions:
wake county market data 12:11

Tax deductions for homeowners

Tax deductions for homeowners represent the financial side of the joys of home ownership. Of course, there are many other things to love about having your home; many intangible.  But, from the view point of managing your finances, nothing is more exciting than those wonderful tax deductions.  I thought I’d send out a little blog post as a reminder to make sure you are taking all of your deductions.  January is after all the month for  cold weather, new year resolutions and w-2 forms in the  mailbox.

• Mortgage interest remains one of the only substantial deductions for many wage earners.
• PMI has gone in and out of the tax roll but this year it is in, so take your deduction.
• Closing costs: be sure to provide a copy of your HUD1, aka your closing statement to your accountant if you purchased a home in 2011.
• Real estate taxes are also deductible and tax time is probably the only time you might be glad you are living in a high tax district.
• Energy star and energy efficient home improvements put money in your pocket all year and at tax time.

Check out home related deductions at the irs website or just do what I do and hire a CPA to do it for you:

http://www.irs.gov/publications/p530/ar02.html#en_US_2010_publink1000255155

Raleigh is the healthiest of cities for women and men

Raleigh was just ranked as the healthiest city for women and ranked in the top 10 healthiest for men. The honor published by Women’s Health and Men’s Health magazine considered everything from prevention to how many vegetable servings/day are eaten in the mix.

Raleigh women are strong on prevention and Raleigh men have above average fitness and lower obesity rates (how about that ladies?)

You can read the articles here:

http://www.womenshealthmag.com/health/best-cities-for-women-2012

http://www.menshealth.com/best-life/best-worst-cities-men-2012

Raleigh is a vibrant city  and the weather makes you want to get out and enjoy the outdoors. People are friendly, concerned about the environment and energy conservation, and there seems to be a health club on every block.

Although the magazine utilized measurable data, I believe that much of what is to love about the lifestyle in Raleigh is an intangible.