Much to look forward to this month in addition to spring. Daylight savings begins a week or so early, and of course the Irish in all of us is about to explode.
Naturally, I’m anxious for the start of the spring real estate feeding frenzy… how’s that for optimism?
I posted a few new articles since I launched the blog last month, redesigned the site a bit and added several links and contacts for people and places I do business with. I’ll keep posting info that I think will help you stay more informed about real estate, and don’t be offended if I post a ridiculous item or two along the lines of the great pumpkin seed cook off newsletter last October.
Be sure to browse around a bit on the site. If you have any questions relating to real estate (or anything else you think I might know something about), feel free to e-mail me or post here… I’ll dig into it and come up with something.
Kids are great, grandbaby’s almost walking, Kelly & I are doing fine if not a little frost bit from our monthly rides in January and February… Maybe March will throw us a 70 degree day. Check out the photos, I think my eyelids were frozen shut.
And of course... I'd be happy to help you or anyone you know with their real estate needs. Whether it's buying, selling, or advice, I'm just a phone call away.
Thanks for your referrals, see you soon
Dave
Wednesday, February 28, 2007
Monday, February 26, 2007
Top 15 Home Updates from HGTV
In this competitive selling market, there are two things that can be done to sell your home faster than the neighborhood competition. 1) select the appropriate selling price and marketing strategy with the assistance of a Realtor, or 2) Have more updates than all the other homes in your area.
# 1 is easy as long as there's enough juice in the deal to satisfy the bank at closing, and you're comfortable with what's left.
# 2 can be a little more complex... what updates should I perform, how much should I spend, and will I get any of that investment back at the sale? All valid questions and all difficult to forecast (if not impossible).
HGTV posted this general guideline and I thought it was interesting enough to outline the info, as well as provide a link to the article. Enjoy the read, and happy remodeling.
In order, from greatest return on investment to least return:
Minor bathroom remodel - 102% return. Consider replacing flooring, reglazing tub, recaulking and regrouting tubs and surrounds, replace or install tired glass shower doors, replace counter tops sinks and vanities, light fixtures. Remove outdated wall coverings and replace with fresh neutral paint schemes.
Landscaping - 100% return - Curb appeal is everything. Make the home look great for MLS photos, and build drive by desire. Trim overgrown trees and shrubs, plant flowers and shrubs that add color and vibrancy to the yard. Replace or replant areas of the lawn that need help.
Minor kitchen remodel - 98.5% return - Kitchens that are functional and modern win the race. If you've lived in the home since it was built and haven't done anything to update this area, it likely needs a make-over. Minor remods may include refacing (or repainting) cabinets, new counter tops with modern colors (consider Corian or granite depending on budget), update sinks and fixtures. Add recessed lighting, and definately get rid of the chicken patterned wall paper, opting for neutral warm colored paint.
Basement remodel - 73% return - The key here is don't overdo it. Adding a wet bar or bathroom is extravagant and can lend itself to your enjoyment, but extreme costs may not be recovered in the short term. Chopping up a basement isn't recommended either, too many walls and rooms can detract from the usable floor space of a basement. Consider dropped ceilings and appropriate flooring for warmth. Establish well defined entertaining areas, and if the budget permits, drywall the perimeter and any storage areas or rooms you develop.
For more complete details regarding these and other improvements, check out this link http://www.hgtv.com/hgtv/rm_kitchen_bath_remodeling/article/0,1797,hgtv_3749_4969950,00.html
# 1 is easy as long as there's enough juice in the deal to satisfy the bank at closing, and you're comfortable with what's left.
# 2 can be a little more complex... what updates should I perform, how much should I spend, and will I get any of that investment back at the sale? All valid questions and all difficult to forecast (if not impossible).
HGTV posted this general guideline and I thought it was interesting enough to outline the info, as well as provide a link to the article. Enjoy the read, and happy remodeling.
In order, from greatest return on investment to least return:
Minor bathroom remodel - 102% return. Consider replacing flooring, reglazing tub, recaulking and regrouting tubs and surrounds, replace or install tired glass shower doors, replace counter tops sinks and vanities, light fixtures. Remove outdated wall coverings and replace with fresh neutral paint schemes.
Landscaping - 100% return - Curb appeal is everything. Make the home look great for MLS photos, and build drive by desire. Trim overgrown trees and shrubs, plant flowers and shrubs that add color and vibrancy to the yard. Replace or replant areas of the lawn that need help.
Minor kitchen remodel - 98.5% return - Kitchens that are functional and modern win the race. If you've lived in the home since it was built and haven't done anything to update this area, it likely needs a make-over. Minor remods may include refacing (or repainting) cabinets, new counter tops with modern colors (consider Corian or granite depending on budget), update sinks and fixtures. Add recessed lighting, and definately get rid of the chicken patterned wall paper, opting for neutral warm colored paint.
Basement remodel - 73% return - The key here is don't overdo it. Adding a wet bar or bathroom is extravagant and can lend itself to your enjoyment, but extreme costs may not be recovered in the short term. Chopping up a basement isn't recommended either, too many walls and rooms can detract from the usable floor space of a basement. Consider dropped ceilings and appropriate flooring for warmth. Establish well defined entertaining areas, and if the budget permits, drywall the perimeter and any storage areas or rooms you develop.
For more complete details regarding these and other improvements, check out this link http://www.hgtv.com/hgtv/rm_kitchen_bath_remodeling/article/0,1797,hgtv_3749_4969950,00.html
Tuesday, February 13, 2007
Everything you wanted to know about septic inspections
This afternoon I sat through a presentation from Mike Kalkhof of The Home Team Inspection service (see link below). He was given the opportunity to shed some light on the ins & outs of septic inspections, specifically as it relates to Macomb county laws.
A septic system has to have a certification in Macomb before a property transfer takes place. A typical certification is good for a year. These days it is shrewd to wait for that inspection until after a buyer is found. Calling Mikes Home Team, he will take care of all necessary paperwork and additional phone calls for the tank cleaners.
Mike charges for his inspection, and you can expect an additional charge from the septic pumpers. The total costs can range from about $ 400 - $ 600 (or more depending on the size of your tank).
Mike takes core soil samples from your field to determine the condition of the drainage in and around your field. The pumping company removes any debris from the inside of the tank, and Mike performs an inspection of the tank and discharge pipes. He also spends time inside the home and or under the crawl space to determine general condition of the plumbing.
Mike swears that after your septic system gets done with your waste water, it should be good to drink... me, I'll stick with bottled water :0).
Once the inspection is complete, Mike gets a certificate from the county saying you're good to go, or will give you the bad news about any repairs that might be necessary. You can confirm the info with the county, but any repairs would need to be made prior to closing. If repairs cannot be performed in that time frame, typically an amount of money from the proceeds would be held in escrow until such time the repairs are performed shortly after closing.
All this, at the sellers expense.
Mike can answer any of your specific questions regarding wells or septics. Check him out on the link below.
A septic system has to have a certification in Macomb before a property transfer takes place. A typical certification is good for a year. These days it is shrewd to wait for that inspection until after a buyer is found. Calling Mikes Home Team, he will take care of all necessary paperwork and additional phone calls for the tank cleaners.
Mike charges for his inspection, and you can expect an additional charge from the septic pumpers. The total costs can range from about $ 400 - $ 600 (or more depending on the size of your tank).
Mike takes core soil samples from your field to determine the condition of the drainage in and around your field. The pumping company removes any debris from the inside of the tank, and Mike performs an inspection of the tank and discharge pipes. He also spends time inside the home and or under the crawl space to determine general condition of the plumbing.
Mike swears that after your septic system gets done with your waste water, it should be good to drink... me, I'll stick with bottled water :0).
Once the inspection is complete, Mike gets a certificate from the county saying you're good to go, or will give you the bad news about any repairs that might be necessary. You can confirm the info with the county, but any repairs would need to be made prior to closing. If repairs cannot be performed in that time frame, typically an amount of money from the proceeds would be held in escrow until such time the repairs are performed shortly after closing.
All this, at the sellers expense.
Mike can answer any of your specific questions regarding wells or septics. Check him out on the link below.
Outlook looks better for '07
The other day while traveling in Chicago, I clipped an article out of the USA Today. In a nutshell the experts (87 % of them) indicate the bottom is near for the real estate market, and depending on who you listen to, it's already hit, or should be complete by summer.
What that means to you & I is that from here on out we should see inventories getting smaller, prices equalizing, and our listings will hopefully sell quicker.
Last nights evening news showed that there are 7 times more foreclosures in Michigan than any other state. If you use those figures, 1 home out of every 100 is estimated currently in foreclosure. That is huge, and is a mirror into the general state of our economy, and the driving force of our housing "slump".
That's why it's so encouraging to see the USA Today publish good news for a change. A good boom economy begins with confident consumers.
Let's welcome a phenominal '07 with open arms.
What that means to you & I is that from here on out we should see inventories getting smaller, prices equalizing, and our listings will hopefully sell quicker.
Last nights evening news showed that there are 7 times more foreclosures in Michigan than any other state. If you use those figures, 1 home out of every 100 is estimated currently in foreclosure. That is huge, and is a mirror into the general state of our economy, and the driving force of our housing "slump".
That's why it's so encouraging to see the USA Today publish good news for a change. A good boom economy begins with confident consumers.
Let's welcome a phenominal '07 with open arms.
Year end results are in for '06
Well, it doesn't take but a look at the news lately to know that the real estate market has been a little rough this year. MCAR publishes stats monthly from the MLS, and here's what it looked like for FY '06 as compared to '05.
Oakland county listings are up 22 %, total sold units are down 22 %. That equates to a buyers market and declining prices. Total sales volume is down about 25 %.
There is no total available for median sales price drops for Oakland, but Troy was down 2 %, Rochester Hills was down almost 7 %, Hazel Park was down 14 %.
I like to temper the bad news with a little good though... Bloomfield Hills average price increased 27 %, Addison Twshp, was up almost 9 %, and Rochester was up almost 15 %.
A look at Macomb County shows similar results...
Macomb lisitngs are up 15 %, Total sold units are down 23 %. Total sales volume is down almost 30 %, and the average selling price is down almost 6 % over '05.
Poor performers in average sales volume were Washington Twshp., down 9 %, Warren down
9 %, Sterling heights down 9 %, Shelby/Utica down 12 %.
Only three communities showed an increase... Armada, Harrison Twshp., and Lenox.
Check out the next blog to see what the experts are saying about 2007. Thank goodness a new year.
Oakland county listings are up 22 %, total sold units are down 22 %. That equates to a buyers market and declining prices. Total sales volume is down about 25 %.
There is no total available for median sales price drops for Oakland, but Troy was down 2 %, Rochester Hills was down almost 7 %, Hazel Park was down 14 %.
I like to temper the bad news with a little good though... Bloomfield Hills average price increased 27 %, Addison Twshp, was up almost 9 %, and Rochester was up almost 15 %.
A look at Macomb County shows similar results...
Macomb lisitngs are up 15 %, Total sold units are down 23 %. Total sales volume is down almost 30 %, and the average selling price is down almost 6 % over '05.
Poor performers in average sales volume were Washington Twshp., down 9 %, Warren down
9 %, Sterling heights down 9 %, Shelby/Utica down 12 %.
Only three communities showed an increase... Armada, Harrison Twshp., and Lenox.
Check out the next blog to see what the experts are saying about 2007. Thank goodness a new year.
Subscribe to:
Posts (Atom)
