Archive for the 'Advice for Sellers' Category

First Offer – Best Offer?

Published on February 6, 2012 in Advice for Sellers and New London Housing Market. 0 Comments Tags: , .

It is commonly said among REALTORS® that the first offer is often the best offer.  And for good reason!  You would be surprised by how frequently we see sellers who are unable to come to terms with the first offer made, then end up selling the property at a later date for much less.  Usually the seller argues that the property has been on the market for such a short time, there must be more buyers out there willing to meet the price.  Sellers often get attached to that last $1000 – when buyer and seller fail to agree, the sale is lost for a tiny percentage of the overall price.  My advice to sellers?  Give serious consideration to the first offer and try to make it work if at all possible.  Hanging on to the property and paying taxes, mortgage, and maintenance for another few months may eliminate any perceived increase in selling price.  With the current market, sellers need to seriously consider a viable offer, especially if it is the first one presented.

Please feel free to contact me for any of your real estate needs, 603-526-4116, donna@donnaforest.com.

Donna Forest,  Broker Associate

Sellers – Don’t Forget the Garage!

Published on January 20, 2012 in Advice for Sellers and New London Housing Market. 0 Comments Tags: , , .

When it comes to getting your property ready to go on the market, most of the emphasis is on preparing the home.  The garage is an often-overlooked feature that can have an impact on the sale.  In order to maximize the sale potential, here are a few tips:

  • De-clutter the garage.  Get rid of as much “stuff” as you can.
  • Sort like items together.  Keeping similar things together make the space look more organized.
  • Use storage racks, bookcases, shelving units to organize.
  • Sweep out the garage.  Remove cobwebs, oil spills, etc.
  • Paint the doors if they need it.
  • Add garage door openers – many potential buyers consider this a priority.
  • Make sure your garage is adequately lighted.

Follow these basic guidelines and your garage will become an attractive feature adding value and desirability in the sale of your home.

Feel free to give me a call for any of your real estate needs.  As always, I appreciate your referrals!  603-526-4116

Donna Forest, Broker Associate

Ten Tips for Saving Energy in the Kitchen

Published on January 3, 2012 in Advice for Buyers and Advice for Sellers. 0 Comments Tags: , .

By: Douglas Trattner

Maintaining your large kitchen appliances is part of a smart home energy efficiency plan.

Refrigerator/freezer

Energy-efficiency experts tell us to focus our efforts on the biggest energy hogs in the house, and that definitely includes the fridge. Because it cycles on and off all day, every day, the refrigerator consumes more electricity than nearly every appliance in the home save for the HVAC systems. The average refrigerator costs about $90 per year to operate, according to the U.S. Department of Energy. The good news is that a few simple adjustments can trim roughly $38 to $45 off those utility bills.

1. Adjust the thermostat. By setting the thermostat colder than it needs to be, you might increase your fridge’s energy consumption by as much as 25% on average. Adjust the refrigerator so that it stays in the 37-40 degrees F range. For the freezer, shoot for between 0-5 degrees F. You could save up to $22 per year. If your model doesn’t display the current temps, invest in two appliance thermometers (one for the fridge, one for the freezer). They cost roughly $3-$20 apiece at online retailers.

2. Clean the coils. As dust accumulates on the condenser coils on the rear or bottom of the fridge, it restricts cool-air flow and forces the unit to work harder and longer than necessary. Every six months, vacuum away the dust that accumulates on the mechanism. Also, check to see that there is at least a 3-inch clearance at the rear of the fridge for proper ventilation. This routine maintenance can trim up to 5% off the unit’s operating cost, says energy savings expert Michael Bluejay, saving you about $4.50 a year.

3. Use an ice tray. Automatic ice makers are a nice convenience, to be sure, but it turns out the mechanisms are energy hogs. An automatic ice maker can increase a refrigerator’s energy consumption by 14% to 20%, according to Energy Star. By switching off the ice maker and using trays, you can save about $12 to $18 off your annual electricity bill. Most units require little more than a lift of the sensor arm to switch them off. To reclaim the space remove the entire unit, a simple DIY job on many models.

4. Unplug the “beer fridge.” Many homes have an extra fridge that runs year round even though it’s used sparingly. Worse, these fridges tend to be older, more inefficient models. By consolidating the contents to the main fridge and unplugging the additional unit, you eliminate the entire operating cost of a fridge. The second-best solution is to make sure the extra fridge remains three-quarters full at all times. The mass helps maintain steady internal temps and lets the fridge recover more quickly after the door is opened and closed, according to the California Energy Commission.

Ovens and ranges

“Green” cooking all comes down to proper time and space management. By using gas and electric stoves more effectively, you can painlessly save a few dollars a year.

5. Cut the power early. As anybody who’s ever bumped a burner on an electric stove can attest, those heating elements stay hot long after they’ve been switched off. Put that residual heat to work by shutting off the burner several minutes before the end of the cook time. The same technique can be applied to the oven. The savings can add up to a couple bucks every month.

6. Match the burner to pan. When a small pan is placed on a big burner you can practically see the money disappearing into thin air. By matching the burner to the pan, electricity won’t be squandered heating the kitchen rather than the food. The reverse is true, too. A small burner will take considerably longer to heat a large pan than would an appropriately sized burner. For gas stoves, don’t let the flames lick the sides of the pot. Follow these tips and watch the utility bills shrink by a few dollars a month.

7. Do away with preheating. You can save about $2 a month by not preheating your oven (20 cents per hour to operate electric oven; eliminate 20 30-minute preheats a month). Many cooks agree that the practice is wholly unnecessary for all but a few recipes, namely baking breads and cakes. This approach may add a few minutes to the overall cooking time, but it eliminates all that wait time on the front end.

Dishwasher

As with washing machines, most of a dishwasher’s energy needs to go to heating the water. Still, says Lane Burt, an energy policy analyst with The Natural Resources Defense Council, a 10-year-old dishwasher can be made nearly as efficient as a newer model simply by knowing when and how to run it. Follow a few simple tips, and you can reduce your annual utility costs by roughly $35-$54.

8. Manage the load. Most dishwashers use the same amount of water and energy whether they’re run full or half-full. You can cut your operating costs by one-third or one-half by running the machine only when it’s full. It costs about $54 to run a pre-2000 model dishwasher per year, based on government data. Proper load management can save up to $27 each year.

9. Activate energy-saving features. A dishwasher’s heated dry cycle can add 15% to 50% to the appliance’s operating cost. Most machines allow the feature to be switched off (or not turned on), which can save $8-$27 per year, assuming an operating cost of $54 annually. If your dishwasher doesn’t have that flexibility, simply turn the appliance off after the final rinse and open the door.

10. Use the machine. Many homeowners believe they can save water and energy by hand washing dishes. The truth is that a dishwasher requires less than one-third the water it would take to do those same dishes in the sink. By running the machine (when full), you can cut down the operating time of the hot water heater, your home’s largest energy hog. Not only will you save a buck per month, you won’t have to do the dishes.

Visit Houselogic.com for more articles like this.  Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®

 

“And the Award Goes to. . .”

Published on October 12, 2011 in Advice for Buyers and Advice for Sellers. 0 Comments Tags: , , , .

Coldwell Banker for outstanding achievement in web development.  Not one, but two – read more.

New Hampshire home prices flat, sales up sharply in July

Published on September 12, 2011 in Advice for Sellers and New London Housing Market. 0 Comments Tags: , , .

July 2011 housing market data from the New Hampshire Association of REALTORS® Director of Communications, Dave Cummings.

New Hampshire residential home sales rose substantially in July 2011 compared to July 2010, but the state’s Realtors stressed the same message they had been offering in prior months, when the news hadn’t been as good: Don’t consider any of it a trend just yet.

Statewide, 1,048 homes were sold in July, a 29 percent increase from the 811 that were sold in July 2010, according to data released this week by the New Hampshire Association of REALTORS (NHAR).  Those homes sold at a median price of $216,000 this year, 2 percent below the $220,000 of July 2010.

The sharp increase in sales was due in part to the significant drop-off in sales of last July, which came immediately following the expiration of the $8,000 home buyer tax credit incentive.

Just as 2011 home sales through June were light compared to sales impacted by the tax credit rush through June 2010, the July 2011 sales looked strong compared to a relatively light July 2010.

“We’ve said for some time that year over year numbers won’t really tell us much until we’re completely clear of any comparisons impacted by the tax credit,” said NHAR President Tom Riley, a 35-year veteran of the real estate industry and president of Riley Enterprises in Bedford. “The further along we get in the year, the more relevant and telling these comparisons become.”

In general, Riley said, the housing market remains an issue dictated by consumer confidence. “Housing remains one of the best long-term investments available,” he said. “That hasn’t changed. What has changed is that consumers in general are feeling less secure with regard to the economy, and in many cases their own personal circumstances, and when that happens people are more likely to stay put.

“We certainly respect that, but it’s also important to point out that for those who are in a position to move, buying conditions are excellent.”

In local markets, July unit sales increased in nine of 10 counties (and stayed the same in Carroll County), while six of 10 counties saw an increase in median price, one remained unchanged, and three experienced declines.

July 2011 data residential

July 2011 data condo

Home Price Measures

Published on July 12, 2011 in Advice for Sellers and New London Housing Market. 0 Comments Tags: , , .

Here’s the outlook on the real estate market from the economists from the National Association of REALTORS®.

Real Estate Activity Increased in May

Published on July 6, 2011 in Advice for Buyers and Advice for Sellers. 0 Comments Tags: , , , .

More purchase and sale contracts were written this May compared to year-ago numbers.  Read what RISMEDIA has to say (click here).

Develop a Landscape Plan to Fit Your Budget

Published on May 24, 2011 in Advice for Sellers and New London Community. 0 Comments Tags: , , .

Article From HouseLogic.com

By: Laura Fisher Kaiser

The success of any landscaping project depends on having a plan and sticking to it.

Landscaping is one of the surest ways to pump up the value of your property. According to research by Virginia Cooperative Extension, going from a plain lawn and a concrete driveway to a well-landscaped lot raises a home’s perceived value by 12.7%. The opposite is also true: A “minimal” landscaping job-a thoughtless smattering of scraggly plants-actually detracts from home value.

How much should you invest in upgrading your landscape? Professionals recommend budgeting 10% of your home’s value. But the important thing to remember is that success doesn’t depend on how much you spend. “Landscaping doesn’t have to be expensive, just well planned,” says Carl Heldmann, author of “Be Your Own House Contractor.” Here’s how to get started on a landscape plan of your own.

First, consult a pro

To figure out how to allocate your landscape dollars, start by picking the brain of a pro. Even if you have a naturally green thumb, a trained professional can save you from wasting money on wrongheaded ideas and open your eyes to possibilities you haven’t considered. There are various types of landscape pros (http://www.asla.org/nonmembers/publicrelations/guidejobs.htm), and their expertise is priced accordingly.

If your yard has major issues or you have grand ambitions, consider hiring a certified landscape architect to design a comprehensive plan that includes such things as irrigation, lighting, architectural features, soil conditioning, and, of course, the growing stuff. A verbal consultation costs about $100-$150; a detailed plan can run from $300 to $2,500. The American Society of Landscape Architects (http://www.ASLA.ORG) offers a state-by-state “firm finder” on its website.

Landscape designers typically charge less than degreed landscape architects and are a good choice for simpler projects that don’t require construction. Horticulturists specialize in plants, not necessarily design. Then there are landscape contractors, the design-build firms of yard work. Start by asking friends whose gardens you admire for recommendations. Your local home and garden center is another good source for contacts.

Set your priorities

Before you get any dirt under your nails-or hire someone to get dirty-you need to make two lists: a) what you want and b) what your property needs. These aren’t necessarily mutually exclusive, but the exercise is important for setting priorities. It would be folly to spend big bucks on an outdoor kitchen before resolving potentially disastrous issues such as a diseased tree or drainage problems (http://www.houselogic.com/articles/7-signs-you-may-have-a-drainage-problem/).

The first question that a professional will likely ask is: What do you see yourself doing in your yard? Hosting Sunday barbecues? Doing the crossword puzzle in a hammock? Swimming laps? Growing vegetables? Clip pictures of outdoor spaces you like and don’t like to clarify the feeling you’re trying to achieve.

Remember that part of your landscape budget will go toward the “b” list. Those are things that may not lend themselves to sexy magazine spreads but can protect your property value-not to mention enhance your quality of life-by lowering water bills, reducing the need to mow or rake, or blocking the view of your neighbor who hot-tubs in the buff. We’re talking about practical considerations such as irrigation, fencing, lighting, equipment storage, privacy, and security.

Create a “floor plan” to target costs

To ballpark costs for materials and labor, think in terms of square footage, which is how landscapers charge. According to Costhelper.com, (http://www.costhelper.com/cost/home-garden/landscape-design.html) hiring someone to create a “naturalistic garden” averages $11 a square foot; the cost can double for a formal garden with walls and water features. And don’t forget to factor in long-term maintenance such as mowing, mulching, and pruning. (Sweat equity, anyone?)

If you’re designing your own plan, start by measuring your property or getting a plat survey from the county. You might even be able to find a topographical map indicating features like slopes and swales. You can sketch the basic layout to scale using old-fashioned graph paper or landscape design software. Prices have come down considerably on the latter, but quality varies widely, so check online reviews before purchasing. A free option: Google’s Sketchup (http://sketchup.google.com), with cool apps for trees, pavers, shrubs, outbuildings, and the like.

Once you have the parameters, create a floor plan, marking off different sections just as you would rooms of a house. The front path is the foyer, there might be a “dining room” with a picnic table, a shady “bedroom” for a hammock, a “rec room” with play equipment. Consider the costs for each area of your plan, including materials, equipment, furnishings, greenery, and any specialized labor like irrigation or electricity.

Think long term

If your ambitions exceed your wallet (and whose do not?), go back to your priority list and pick a section or projects to tackle as your budget permits, advises Angela Dye, principal designer/president of A Dye Design, a landscaping firm in Phoenix, Ariz. “What is the absolute most important thing you need to have done?” she asks. “What is bugging you most?”

A carefully conceived plan will keep you on track during this gradual transformation, both in terms of vision and budget. And remember that patience pays off. “Additions or renovations can start losing value once completed,” says Jim Lapides, spokesman for the American Society of Landscape Architects. “A landscape literally grows in value over time.”

Laura Fisher Kaiser is a contributing editor to Interior Design magazine and a former editor at This Old House magazine. The secret to her Washington, D.C., garden is blood, sweat, tears, and mosquito repellent.

Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2011.  All rights reserved

What You Must Know About Home Appraisals

Published on May 9, 2011 in Advice for Buyers and Advice for Sellers. 0 Comments Tags: , , , , .

By: G. M. Filisko

Understanding how appraisals work will help you achieve a quick and profitable refinance or sale.

1. An appraisal isn’t an exact science

When appraisers evaluate a home’s value, they’re giving their best opinion based on how the home’s features stack up against those of similar homes recently sold nearby. One appraiser may factor in a recent sale, but another may consider that sale too long ago, or the home too different, or too far away to be a fair comparison. The result can be differences in the values two separate appraisers set for your home.

2. Appraisals have different purposes

If the appraisal is being used by a lender giving a loan on the home, the appraised value will be the lower of market value (what it would sell for on the open market today) and the price you paid for the house if you recently bought it.

An appraisal being used to figure out how much to insure your home for or to determine your property taxes may rely on other factors and arrive at different values. For example, though an appraisal for a home loan evaluates today’s market value, an appraisal for insurance purposes calculates what it would cost to rebuild your home at today’s building material and labor rates, which can result in two different numbers.

Appraisals are also different from CMAs, or competitive market analyses. In a CMA, a real estate agent relies on market expertise to estimate how much your home will sell for in a specific time period. The price your home will sell for in 30 days may be different than the price your home will sell for in 120 days. Because real estate agents don’t follow the rules appraisers do, there can be variations between CMAs and appraisals on the same home.

3. An appraisal is a snapshot

Home prices shift, and appraised values will shift with those market changes. Your home may be appraised at $150,000 today, but in two months when you refinance or list it for sale, the appraised value could be lower or higher depending on how your market has performed.

4. Appraisals don’t factor in your personal issues

You may have a reason you must sell immediately, such as a job loss or transfer, which can affect the amount of money you’ll accept to complete the transaction in your time frame. An appraisal doesn’t consider those personal factors.

5. You can ask for a second opinion

If your home appraisal comes back at a value you believe is too low, you can request that a second appraisal be performed by a different appraiser. You, or potential buyers, if they’ve requested the appraisal, will have to pay for the second appraisal. But it may be worth it to keep the sale from collapsing from a faulty appraisal. On the other hand, the appraisal may be accurate, and it may be a sign that you need to adjust your pricing or the size of the loan you’re refinancing.

More from HouseLogic

How to use an appraisal to eliminate private mortgage insurance

Understanding the assessed value of your home for tax purposes

Understanding the amount at which to insure your home

Other web resources

More information on appraisals

How to improve the appraised value of your home

G.M. Filisko is an attorney and award-winning writer who’s had more than 10 appraisals performed on her properties in the past 20 years. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

© Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

Visit HouseLogic.com for more articles like this.  Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®

Radon Test: Do It Yourself or Professional?

Published on April 15, 2011 in Advice for Buyers and Advice for Sellers. 0 Comments Tags: , , .

By: Jan Soults Walker

Published: March 25, 2011

Plan to conduct a radon test in your home, if you haven’t already. As the second leading cause of lung cancer, concentrated radon gas is nothing to ignore.

Radon test: Levels to look for

Radon is a naturally occurring, radioactive gas that’s emitted as uranium decays in water, soil, and rocks. In the open air, radon gas dissipates harmlessly. Allowed to seep into your home where it builds up, however, and it becomes dangerous.

Excessive radon levels may be found anywhere that your home contacts the ground, such as a first level on a concrete slab or in a basement—especially near sump pumps, cracks in the foundation, and gaps in framing.

If your test results indicate radon gas levels at or above 4 pCi/L (picocuries per liter of air), you’ll need to explore options for reducing radon gas. You can view a map of possible radon gas levels in your area.

Home radon test kits

If you are radon testing to evaluate potential risk, a home test kit will do the job, says Brian Hanson, radon specialist at Kansas State University.

Look for test kits online or at home centers and hardware stores, with prices ranging from about $9 to $40. You can also contact your state radon office to find out if they offer a low-cost or free test kit.

Follow instructions carefully for use of the test kit. Typically:

  • All doors and windows should be closed for 12 hours prior to testing.
  • Place the detector in the lowest livable area of your home and leave it undisturbed for 48 to 96 hours.
  • After the appropriate time period, immediately send the detector to its lab, which will deliver the results back to you.

Professional radon test

If you’re in the process of selling your home or want confirmation of radon levels detected by your home test kit, select a professional radon testing service. A testing service ensures that procedures are completed by an impartial professional who’s nationally- or state-trained and certified. To find a qualified company, contact your state radon office.

If testing is done as part of a home inspection, expect to pay an additional $150 above the home inspection cost. If you opt for a radon test separate from the home inspection, you’ll pay about $250 and up.

Counter intelligence

Recently, it’s been noted that some types of granite countertops emit unacceptable levels of radon. You may want to test any areas of your home where stone countertops are present.

With four home renovations to her credit, Jan Soults Walker is a devotee of improvements, products, and trends for the home and garden. For 25 years she’s written for a number of national home shelter publications, and has authored 18 books on home improvement and decorating.  Visit Houselogic.com for more articles like this.  Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.