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Paint Colors that Sell!

by Desi Sowers

If you’re thinking about painting the rooms in your house, why not think about resale value while you’re at it?  Of course, you will want to choose colors that appeal to you personally, but at the same time you may want to consider how those colors might affect potential buyers in the future.  Looks aren’t everything, but they are important when making an impression on people who may possibly purchase your home.  Here is a palette you may want to consider if you want to make more money when you sell:

According to Zillow kitchens painted in light blue to soft gray-blue tones brought in $1,809 more than other colors while kitchens painted yellow saw resale value drop by about $820. 

Bathrooms painted light blue or periwinkle can bring in $5,440 more on average, while bathrooms painted in varied shades of white reduced home sale prices by about $4,035.

When it comes to your bedroom, the blues win again!  A pink one can cost you about a $200 loss in resale value, while a light cerulean or cadet blue bedroom can bring you an extra $1,856.


Blues seem to be the colors of choice for most rooms in the house when it comes to resale value, but one room where that is not the case is the living room. Zillow found that a light beige, pale taupe and oatmeal color tends to add $1,809 to home sales, while living rooms painted in varied shades of blue, silver and gray lose out on approximately $820.


So, if you’re looking for a low-cost way to upgrade your home, break out the paint brushes and make sure to choose the right colors to get more bang for your buck when you sell!

 

http://www.desisowers.com/Blog/To-Renovate-or-Not-to-Renovate-Should-You-Fix-Up-Your-Home-or-Sell-it-As-Is

http://www.desisowers.com/Blog/Ten-Décor-Trends-to-Avoid-in-2017

http://www.desisowers.com/Blog/The-Best-Chance-For-Selling-Your-New-River-Valley-VA-Home

Blacksburg VA Home Sales April 2017

by Desi Sowers

Desi Sowers has distinguished herself as a leader in the New River Valley real estate market. Desi assists buyers looking for New River Valley real estate for sale and aggressively markets New River Valley homes for sale.

Desi brings with her a keen eye for the details of buying or selling a New River Valley home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future – Desi Sowers will help make the most of your New River Valley real estate experience. Give her a call today, 540-320-1328, and discover the difference she can make during your family's move.

Radford VA Home Sales April 2017

by Desi Sowers

Desi Sowers has distinguished herself as a leader in the New River Valley real estate market. Desi assists buyers looking for New River Valley real estate for sale and aggressively markets New River Valley homes for sale.

Desi brings with her a keen eye for the details of buying or selling a New River Valley home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future – Desi Sowers will help make the most of your New River Valley real estate experience. Give her a call today, 540-320-1328, and discover the difference she can make during your family's move.

Moving Day Survival Kit

by Desi Sowers

You’ve closed on your new home and it’s time to move in!  This is an exciting time, but can also be a bit stressful.  Where do you even begin?  A good place to start is to create a moving day survival kit for yourself. It should include anything and everything that is important or of great value to you and should stay with you and not go with movers. Here is a list of “must have” items to make your move as organized and stress-free as possible:

  • Toilet Paper.  At least a few rolls. Trust me on this one.
  • Pain reliever and all your medications.  You don’t want to be searching for these necessities, so make sure they are easily accessible.
  • Toilet Plunger.  Yes, really. Especially if your new place only has one bathroom. Better safe than sorry!
  • Cash for tipping your movers.
  • A Multi-Tool.  While having a whole tool box handy would be great, there is only so much you can (and should) fit into your survival kit.  Something like a Leatherman will provide you with a way to open boxes and other small tasks…and it will fit in your pocket!
  • Trash Bags.  And clear recycling bags.  Look up where you can recycle locally and have the address in your phone so you can take packing boxes/materials there after you unpack.
  • Power Strip and Mobile Phone Charger.  There is nothing worse than discovering your phone is dying and you have no idea where your charger is!  The power strip will come in handy because you will probably clear one small area and can plug in your electronics, a lamp, a coffee pot, etc.…
  • Personal Hygiene Items.  Pack an overnight bag with your toothbrush, toothpaste, deodorant, soap, shampoo etc.  That way, when you are ready to call it a day you can jump right in the shower without having to search through boxes for them.
  • All Purpose Cleaner and a Roll of Paper Towels (or two). Hopefully move-in day won’t be cleaning day, but you never know.  Be prepared.  Even if the house looks clean, you are going to want to wipe down the toilets, sinks and counters.
  • Bottled Water and Granola Bars.   You are going to be hungry. And tired.  Have water and snacks on hand to get you through the day.  Look up some Take Out Restaurants and have their numbers in your phone so you can have food delivered.
  • First Aid Kit.  Well, at least a box of Band-Aids in case you cut yourself opening boxes.
  • Note Pad and Pen.  Because you WILL come up with a list of things you need and need to do as you are unpacking and you will want to write them down so you don’t forget.
  • Scented Candles or Air Fresheners.  Even the cleanest house will smell a little musty if it has been closed up for a while.
  • Flashlight.  Some rooms won’t have overhead lights and if you haven’t unpacked the lamps yet, a flashlight will come in handy.

Enjoy your new home!  And if you haven’t found your dream home yet visit desisowers.com and start your search today!

If you are preparing to list your house for sale, you may be wondering if the financial reward will be worth the time, effort and money to fix up things that are in disrepair or that are dated.  The answer to that question depends on a myriad of circumstances such as the current real estate market, the condition of competing inventory and whether or not the renovations that need to be made generally provide a return on investment.

Some home buyers are looking to purchase a "fixer upper".  They are looking for properties priced to sell, perhaps because they don’t qualify for more expensive homes or maybe because they want to make a profit by fixing the home up themselves.  Most fixer buyers want to do simple repairs such as painting walls, replacing light fixtures and putting in new carpet. Only a few want to take a house down to the studs and completely redo it.  These potential buyers will want a price for the home that will allow for all the repairs, the inconvenience of doing the work, and often a bit more.  For example, if a home is worth $200,000 fixed up but needs a new roof, and the roof costs approximately $10,000, a buyer most likely will not offer $190,000 for this home.  The reason is that they can probably find a similar house that already has a new roof for $200,000 and save themselves the headache of replacing it themselves.  A buyer in this situation might offer $175,000 or less, in which case it would make more sense for the seller to replace the roof and sell it for $200,000.

It’s important to note that many buyers are looking for "turn-key" homes.  They fear having to make major repairs because they might be more costly than anticipated or other problems might be revealed.  Even if the price is right, homes listed for sale in “as is” condition might not attract as many buyers.

However, before doing major renovations, there are many things to consider.  Smart sellers will research what their home’s market value will be once improvements are made and compare it to the cost of the renovations. If an upgrade won’t provide return on the investment, it probably doesn’t make sense to do it.  Knowing the condition of your competition is helpful.  For example, if other homes for sale in your neighborhood all have modern kitchens, it might make sense to update yours.  This doesn’t mean you should tear it down and start from scratch.  Often a minor kitchen remodel will suffice.  Also, keep in mind that kitchen and bathroom remodels are known to bring the best return on investment.

Start by making a list of the things in your home that are dated or in disrepair and then prioritize.  Here is a list of 10 minimum improvements to make before putting your house on the market:

  • Patch all holes and cracks in walls and ceilings.
  • Fix all appliances and HVAC systems.
  • Repair leaky faucets.
  • Replace worn carpeting.
  • Repaint dark or marred walls in neutral colors (not white).
  • Replace broken windows.
  • Repair the roof.
  • Change dated light fixtures/ceiling fans.
  • Replace old linens/window coverings.
  • Fix any code violations.

If your real estate market is a seller’s market and homes are moving quickly, you can get by with fewer fix ups, however a home that needs repairs will still deliver a lower price.  If it’s a buyer’s market, people might not even be willing to look at homes that need repairs.  Desi  Sowers can help you understand the current market in The New River Valley so that you can make informed decisions about whether to sell your house “as is” or not. 

Preparing for a Bidding War

by Desi Sowers

It is a seller's market in real estate this year and now that spring has arrived, the competition for homes is likely to get even more fierce.  If you are looking to purchase a home right now, chances are you may find yourself in a bidding war.  Be prepared!  Here are six ways to come out on top in a bidding war:

  1. Get your finances in order and get as much cash as you can.  It is never too soon to get pre-approved for a loan. In fact, the sooner the better.  Sellers will have lots of options and will be leery of those who do not have loans set in stone.  If possible, bring cash to the table.  Sellers will fear appraisals coming in low and loans falling through, so be prepared to cover the difference with cash.
     
  2. Don’t hesitate!  Be the first to make an offer, and make it a good one.  An insulting offer will put you at the bottom of the seller’s list, so it is not a good time to low ball.  Come in at or slightly below asking price so that they know you are serious about purchasing their home.
     
  3. Escalation Clause.  This is the amount of money the buyer agrees to increase the offer if there are other bids. If you offer the asking price of $400,000 on a house, but it might sell for $450,000, put in an escalation clause stating that you are willing to go as high as $460,000.  But know your limit.  Don’t offer more than you can handle.  Also, make sure the clause states that the seller can only take the winning bid up to a level just above the competing offers.  For example, if an offer comes in for $430,000, your bid would be upped to $431,000.
     
  4. Get a pre-inspection.  It will cost you a few hundred dollars, but it can help you in a super-tight market.  If you can make a bid that is not contingent upon inspection, sellers will look favorably on your offer versus the same offer from someone who has a contingency in their contract.
     
  5. Show the love!  If you have found the perfect house and really love it, don’t be afraid to let the sellers know, either directly or through your Realtor.  You can write a letter, send pictures of your family or even make a video describing why you love the house so much.  Be specific in your praise.  Sellers may appreciation the connection you feel with the house and choose you over other bidders.
     
  6. Think with your head, not your heart. Be smart! Purchasing a home is an emotional thing for sure, but emotions can get in the way of making wise decisions.   Make sure you have done thorough research of the market: look at the most recent comparable sales, compare prices from a year ago, visit local school, have coffee at the closest café and speak to potential neighbors.  Look at listings nearby.  Whatever you do, don’t overpay because you get caught up in the heat of the competition.  While the house may seem perfect for you, it is not the only house that will be perfect for you. So, keep a level head and make intelligent decisions.

 

http://www.desisowers.com/Blog/The-Top-Ten-Things-to-Look-for-When-House-Hunting

http://www.desisowers.com/Blog/How-to-Determine-if-You-are-Ready-to-Buy-Your-First-House

http://www.desisowers.com/Blog/Dont-Wait-Buy-Your-Home-in-2017

The Top Ten Things to Look for When House Hunting

by Desi Sowers

House hunting can be overwhelming sometimes, especially when beginning the search for your first home.  Chances are you might get caught up in the process and important details might slip by you. While the number of rooms, condition of the kitchen, and size of the yard are important, there are other things to consider before you make an offer.  This list of things to look for can help get your search off to the right start.

 

  1.      Location, Location, Location
    They say that the 3 most important things to look for when buying a home are location, location and location.  While a home might not be perfect, loving your neighborhood and neighbors can make all the difference in living with imperfection.  And face it…you can change almost anything about your house, but you can’t change its location or the people living nearby.  When you go house hunting, make sure to consider the home’s proximity to your work, the appeal of the neighborhood, when in the neighborhood the home is situated, ease of access, noise from neighbors, traffic, pets and access to parks, shopping, schools and public transportation.

 

  1.      Home Placement
    Beyond location, look at how the home is situated.  If the home is on a hill does it have a view, a walkout basement, or lots of stairs to climb? Do neighbors' windows look directly into the home? Is the yard suitable for kids, pets, gardening, or other uses? Is their safe access to the home? These are all important questions to ask yourself when determining if it is the right property for you.

 

  1.      Check Out the Neighborhood
    While it’s important for your house to meet your expectations, it’s equally important that the neighborhood meets them too. Take a drive around the development you are interested in on week days and weekends, during the day and in the evening.  Are the homes in good repair? Are yards kept clean and tidy?  Is the neighborhood safe enough for people to walk, run or bike?  Are there children playing outdoors?

 

  1.       Consider a Home’s Curb Appeal
    You want a home that is going to reflect your lifestyle. Do you live a    casual, laid-back life? Then you probably won’t want a formal Victorian or Tudor style home.  A simple, contemporary home might better suit you.  Pay close attention to exterior features.  Think about maintenance.  For example, a brick home is easier to maintain than one with siding.  Do you like working in the yard?  If not, you might not want a house with extensive landscaping.  Is the roof in good condition?  Attention to detail will help you choose the home with the best curb appeal for you.

 

  1.       Size and Floor Plan
    You may be thinking about buying your dream home. But is your dream home practical?  Do you actually need 4 bedrooms and 4 baths when you live alone? A spacious home may provide  the extra room you've always wanted for a home office or a theater room, but you'll pay higher heating bills and have higher taxes. Additionally, it will take more furniture to furnish and money to decorate. Think about how the new home space will be used and whether it will fit your lifestyle now and in the future.

 

  1.        Bedrooms and Bathrooms
    Decide how many bedrooms and bathrooms you will need and only    look at homes that meet that criteria.  You don’t want to fall in love with what is otherwise a perfect house if it doesn’t provide the space needed for your family.  It’s smart to consider counting an extra bedroom in that number so that you have extra space for a home office or guest room. If you think you might add on to the home later, make sure you consult an architect who can advise you on space planning and regulations.

 

  1.         The Kitchen
    For many people, the kitchen is the heart of the home. Don’t settle for a home with a kitchen that doesn’t work for you.  Yes, you can remodel later, but at great expense.  If it’s an easy fix like replacing cabinets or countertops, get a price quote before committing the house so that you will know if it is within your budget to take that on.

 

  1.          Closets and Storage
    Older homes often have small closets and lack storage space.  As you’re looking at a home ask yourself where you will store your belongings.  Tiny closets don’t have to be a deal breaker.  There are ways to maximize storage without renovations. Newer homes tend to have lots of storage and you may sacrifice living space while having more closet space than you actually need.

 

  1.          Windows and Lighting
    While looking at a home keep in mind your preferences regarding light and privacy.  Do you want a lot of windows to provider bright, sunny rooms?  Pay attention to the locations of electrical outlets and fixtures to make sure they will meet your lighting needs. 

 

  1.            Finishing Touches
    Even a simple home can look spectacular with the right moldings, hardware, and a fireplace.  If elements like these are important to you, look for them while house hunting. 

 

You may not find everything you want in one house, but keep this list handy and you are more likely to find the home that best suits your needs and desires.  Happy House Hunting!

If you are interested in buying a New River Valley home, contact Desi Sowers at 540-320-1328, and discover the difference she can make during your family's move. 

 

Lucky Number 7 for First-Time Homeowners

by Desi Sowers

With the tax code constantly changing, first-time homebuyers need to educate themselves to understand year-to-year changes.  As an incentive to buy homes, the government provides tax breaks to existing and new homeowners.  Homeowners receive multiple tax deductions, tax credits and other breaks that aren’t available to those who rent.  If you bought your first home in 2016, it is smart to familiarize yourself with current homeowner tax breaks so you can take advantage of them and save some money.

  1. HOME MORTGAGE INTEREST DEDUCTION

The mortgage interest deduction is one of the largest home tax breaks and is a significant new homeowner tax credit.  It covers interest paid on loans of up to $1 million, or $500,000 if you’re married but filing a separate return. This deduction can especially benefit borrowers with new loans because interest changes on mortgages are typically steeper in the early years of the mortgage’s term. Don’t miss out on this money saving tax credit.  Your loan provider should send you a form 1098 which will show how much interest you paid the previous year.

Instructions For Home Mortgage Interest Deduction

 

  1. MORTGAGE INTEREST CREDIT

The federal government's mortgage interest credit provides another chance for first-time homebuyers to claim a tax break for the mortgage interest they paid. Unlike the mortgage interest deduction,             which reduces your taxable income, this mortgage interest credit directly counts against your tax bill, lowering what you owe.  To be eligible for this strategic tax break, a state or local government must have issued you a MORTGAGE CREDIT CERTIFICATE.  Typically, this certificate is issued when you originate your mortgage.  It tells you how much interest you can claim as a credit.  If you also claim a    mortgage interest deduction when you file your taxes, you must reduce the credit by that amount.   Mortgage Interest Credit Form

 

  1. MORTGAGE POINTS DEDUCTION

You can also deduct what you pay in points to obtain the mortgage loan in the first place. Mortgage points are prepaid interest that can help a borrower qualify for a lower interest rate over the life of the loan. How to Deduct Mortgage Points on Your Tax Return

 

  1. TAX FREE IRA WITHDRAWALS

Saving money for a down payment and closing costs is something many people have to do when buying a home. The IRS says you can pull funds from your IRA to help. You can take up to $10,000 from your IRA without penalty to buy a home, although you'll still need to pay taxes on the money. Your 401k plan does not qualify for the exception to the 10 percent penalty. How to Tap an IRA for a Home Purchase

 

  1. PROPERTY TAX DEDUCTION

Property taxes are one of the many advantageous tax breaks for first-time homebuyers. You can deduct property taxes paid during the year for which you're filing. If you purchase a home midway through the tax year, you can claim all taxes paid from the date of sale onward.  How to Claim Property Taxes

 

  1. HOME IMPROVEMENT TAX BREAKS

Improvements you make to a home can qualify for a tax break. If you use a home equity loan or other loan secured by your home to finance improvements, the loan will qualify for the same mortgage interest deductions as your main mortgage.  Home Improvements that are Tax Deductible

 

  1. HOME ENERGY TAX BREAKS

Unfortunately, two property-related home improvement tax credits have been eliminated as of Jan. 1, 2017. That means both credits will no longer apply beginning with the 2017 tax year.  They are: the Nonbusiness Energy Property Credit and the Residential Energy Property Tax Credit.  However, you can still claim these credits if you made qualifying improvements to your home during the 2016 tax year. Keep all receipts and contracts from the home improvements and use Form 5695 to file for this credit.

 

http://www.desisowers.com/Blog/Real-Estate-Myths-Dont-Let-Them-Fool-You

http://www.desisowers.com/Blog/Mortgage-Information

http://www.desisowers.com/Blog/Top-10-Remodeling-Projects-for-Adding-Value-to-Your-Home

How to Determine if You are Ready to Buy Your First House

by Desi Sowers

The decision to purchase your first home is not one that should be made lightly.  It is an important, life-changing decision that should be given serious consideration.  So, before you take the plunge into searching for the prefect home, here are some questions you should ask yourself to make sure that you are ready.

  1. Can I afford a home?  The first step is to determine if you can afford to buy a home based on your current financial situation.   Using a home affordability calculator will help you figure out how much you can afford by plugging in your income, debt and the amount of a down payment you will be able to make.   You will now have a number of the highest amount you can afford and what the monthly payment will be.
  2. Is it better for me to rent or buy?  The answer to this question depends upon what kind of market you are in because inventory can make a huge difference. Using a rent vs buy calculator will allow you to crunch the numbers. You can enter the current amount of rent you’re paying (or how much you would be able to pay) and the zip code where you want to live. The calculator will provide a comparison of the cost of buying a home versus renting in that area.  You will also be able to see which option is more cost effective over time.
  3. How long will I live here?  If you plan to stay in a home for a long time, it is generally better to buy versus rent. If you’re going to be living somewhere for a short term, renting might be the better option.  The reason is that when you buy a home you will likely have to pay closing costs which can total in the thousands of dollars.  In addition, most of your early mortgage payments go toward interest rather than paying down the principal, which is the actual amount you owe on the home.  A good rule of thumb is that home buyers should stay put for at least five years.  Otherwise, renting is better.
  4. Are you saving for retirement?  Retirement may seem a long way off to young home-buyers, but it is important to start saving early.  It’s not a good idea to neglect your retirement accounts in order to “save” money to put down on a house. Consider meeting with a financial counselor who can help you find a balance in saving for retirement and saving for your first home at the same time.
  5. Am I ready for the responsibility?  Owning a home is a huge responsibility.  With rentals, you can call your landlord to fix things that aren’t working in the home, but as an owner, it all comes down to you.  You need to be sure that you have the time, willingness and resources to keep up with home and yard maintenance.

 

http://www.desisowers.com/Blog/Dont-Wait-Buy-Your-Home-in-2017

http://www.desisowers.com/Blog/How-to-Get-Out-of-Debt-and-Buy-a-House

http://www.desisowers.com/Blog/Mortgage-Information

Protect Your Home from Fire: Four Surprising Fire Hazards

by Desi Sowers

It is estimated by The National Fire Protection Association that over 47,000 home fires reported to fire departments are caused by some kind of electrical failure as a trigger to ignition.  But there are some other unusual ways that fires can start that we should all be aware of.

Dishwashers

While you may be aware that overheating dryers or ovens can cause fires, you might think dishwashers are safe because they have water. And water puts out fires…right? Wrong!  Dishwasher fires can be caused by liquids coming into contact with the machine’s wires.  Serious damage can occur when fires are ignited in dishwashers.  According to a 25 year veteran of the New York City Fire Department, any appliance that powers a motor, heating element, or both always has a higher risk for fire - and dishwashers are a common example.  He advises that they never be turned on when going to sleep or leaving the home.

Jars and other glass objects

According to survivalists, one of the best ways to start a fire is to use a piece of glass to refract sunlight onto dry wood.  Without proper care, that same scientific process can happen on your own kitchen table.  In 2015 a fire broke out in a southwest London home because of sun rays reflecting through an empty Nutella jar, the Associated Press reported.  While it may seem to be an freakish way for a fire to start, the fire brigade’s investigative unit confirmed that the glass jar was to blame.  The chances of this happening in your home are slim, but it is important to remember to never store flammable liquids like gasoline, cleaning fluids, paint thinners and even cooking oils in glass jars that you intend to leave out in the sunlight.  Metal cans for commercial-use flammable liquids and plastic containers for things such as cooking oils are safer options.

Rodents

Small rodents like squirrels and rats like to burrow into your attic insulation in cold weather and chew anything they can get their teeth on, including rubber covered electrical lines.  Unfortunately, if electrical wires become exposed dud to their protective insulation being compromised, there is a likelihood of igniting a flame.  The key to preventing this from happening is to keep the critters out to begin with. Before winter season, make sure all vents are covered, holes are patched and cracks are sealed.

Laptops

If you have ever had your laptop computer in your, well, lap for an extended period of time, you know that they get hot.  Because of this, it is a bad idea to leave one sitting on a flammable surface such as bedding, furniture or carpet.  But the real culprit behind laptop fires is the lithium in the batteries.  A poorly made battery can overheat and burst into flames.  Recently the Samsung Galaxy Note 7 smartphones were recalled because they were catching on fire and it was the lithium batteries that were the problem.  Any device powered by lithium ion batteries should be shut off when not in use and stored away from any flammable items.

 

More hidden home fire hazards  HERE!

http://www.desisowers.com/Blog/Home-Maintenance-for-Winter

http://www.desisowers.com/Blog/12-Simple-Home-Repairs-to-Lift-You-Out-of-Winters-Funk

Displaying blog entries 11-20 of 25

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