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Silver Spring – Takoma Park Real Estate Renovations with the Best Returns for 2017

If you’ve been kicking around the idea of some home improvements, but aren’t sure which ones make the most financial sense, don’t miss “The Renovations That Will Pay Off the Most for Your Home in 2017” published by Realtor.com.

While some renovations sound like they’re a home run for your home’s value, in actuality big-ticket projects recoup far less than some of their simpler counterparts.

For example, adding fiberglass insulation to your attic has an astonishing estimated return of 107.7% compared to a bathroom addition, which averages only a 53.9% return.

The report compares the average cost of the project to the expected value at the time of resale. Here are the top 10 projects and their ROI percentage:

  1. Fiberglass attic insulation (107.7%)
  2. Steel entry door upgrade (90.7%)
  3. Manufactured stone veneer (89.4%)
  4. Minor kitchen remodel (80.2%)
  5. Garage door replacement (76.9%)
  6. Siding replacement (76.4%)
  7. Wooden deck addition (71.5%)
  8. Second-story addition (71.1%)
  9. Basement remodel (70%)
  10. Family room addition (69.3%)

 

You can read a more detailed analysis of the projects (plus the next 9 projects in the ROI list) here: http://www.realtor.com/news/trends/best-and-worst-renovations-to-make-in-2017/

Of course, ROI is only one factor in choosing a home renovation. Some projects pay huge dividends in the pleasure they give you while you live in your home. Having a second bathroom with two teenagers in the house? Priceless!

Which renovations are you considering? How concerned are you about your return on investment when the time comes?

When you’re ready to cash in on your investment, give me a call! I’m here to help you get top dollar for your home:  Debbie Cook Call or Text (301) 233-8309

Posted by Debbie Cook | Discussion: No Comments »

12 Good Reasons to Sell Your Home During the Holidays

1.  Inventory of Competition is Lower
Your home stands out better with less to choose from.  Your odds of selling  may actually go UP during  this time of year.  Many people feel just like you…and don’t understand that  there will be a FLOOD of new listings on the market after the holidays that can cause you to get “lost in the crowd “ Listing now means more serious buyers per home for sale.
christmas-wreath-on-door 2.  Only the SERIOUS buyers are out in the fall/winter
Fewer may be looking but you are more likely to get a contract from those that do come through!  Think  about how fantastic it will be to have this all finished when others are just getting       started!
3.  Taking Photos in the Fall…
Can be a big asset, as they look great on your MLS, and flyers…before exterior plantings die off.
 4.  Home May Show Better While Decorated
Your home may look better now than any other time of year! Why not have potential buyers see it at it’s best? Fireplaces, evergreens, scented candles…All add to the beauty inside when it’s not so pretty outside. Contrast can equal a sale!
 5.  It’s OK to have specific “no showings” Times During Holidays
Lock boxes can even be emptied of keys or removed. Just because you’re planning a few holiday events is no reason to not be for sale the rest of the time.
6.  Houses Feel More Like “Homes”
When you come in from the cold weather, this cozy feeling causes emotions in a Buyer you can’t get
other times of the year. “Home Sweet Home” is never sweeter than now!
artificial-christmas-wreaths-exterior-traditional-with-christmas-decorations-christmas-wreath-entrance-entry-entry-gate-garden-lighting-garland-grass 7.  Online Searches Go Way Up
People stay home more in colder weather and with today’s technology and our expertise in marketing your home online, the chances you get seen and sold are improved.
 8.  Buyers Who Buy Closer to the End of the Year
May pay closer to full price than other times, as they are often buying under a deadline. They have less time to negotiate and less inventory to choose from getting  you the BEST price.
9.  Buyers have more day-times off during mid-November through January
Increasing serious buyer traffic during normal business hours vs. showings during your evenings and weekends.
10.  Buyers at this time often have an “urgency factor”
Many employers want new hires to start in January, so they can’t wait to buy your home. If you don’t list until after January 1, you might miss out on those buyers. They can’t buy yours if it’s not for sale.
11.  Late occupancies are common during this time
Some buyers that need to buy by end of the year don’t have to occupy the home right away, allowing you a real win-win. They win with lower interest rates now, and you could negotiate your move for later.
12.  Decreased Demand
On lenders, appraisers, home inspectors, movers and other vendors during this time can cause your escrow processing time to be smoother and easier than during busier times.

The bottom line is that if your home isn’t available, you may miss YOUR perfect buyer. If you know you want to sell, don’t wait. “You can’t win if you don’t play” as they say…   The Question really is – why delay?   What’s the downside to listing now?

Posted by Debbie Cook | Discussion: No Comments »

Retro Lovers Delight SOLD in South 4 Corners – Silver Spring

Need Your Help.  Took a Listing in Silver Spring, South 4 Corners Neighborhood – Sold for 12,000 Over List Price in less than 5 days with 5 Offers! Portland Sold
Do you know anyone in your Silver Spring neighborhood thinking of Selling?
Need Inventory: Lots of Buyers but No houses.  If you or someone you know has thought about selling, please let me know – Perfect time.
Call or Text me at (301) 233-8309 or email [email protected]

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The Retro Lovers Delight!  10109 Portland Place Silver Spring, Md 20901 – Interior Photos and More Info at:    www.South4CornersHome.com

Posted by Debbie Cook | Discussion: No Comments »

How to get the Most Money when Selling Your Home

How To Get The Most Money When Selling Your House | Keeping Current Matters

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

How To Get The Most Money When Selling Your House | Keeping Current Matters

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. In that way, the seller will not be fighting with abuyer over the price, but instead will have multiple buyers fighting with each other over the house.

Realtor.com, gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This too may seem counter intuitive. The seller may think they would net more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

Research posted by the Economists’ Outlook Blog revealed that:

“The median selling price for all FSBO homes was $210,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $151,900. However, homes that were sold with the assistance of an agent had a median selling price of $249,000 – nearly $40,000 more for the typical home sale.”

How To Get The Most Money When Selling Your House | Keeping Current Matters

Bottom Line

Price your house at or slightly below the current market value and hire a professional. That will guarantee you maximize the price you get for your house.

 

Posted by Debbie Cook | Discussion: No Comments »

Tips for the Summer Silver Spring, Takoma Park & DC Home Seller

Sell your home this summerSpring kicks off the peak home hunting months of the year, but it isn’t until summer that things really get cooking. While there are pros and cons to buying and selling homes at various times throughout the year, summer can be, on average 25 to 30 percent more active than the annual average.

In summer you have a real mix of buyers and sellers… some serious and some not-so-serious. In the winter months, many buyers searching for homes would only do so if they absolutely had to. In the summer, there are often a larger number of buyers just toying with the idea. (Many of the serious buyers are eager to get settled before school starts in the fall.)

Selling homes in the summer requires its own brand of seasonal marketing and showing. Here are a few tips you’ll want to keep in mind as you invite buyers to consider your home:

 

  1. Keep it cool, but don’t keep it dark. Your instinct may be to close the blinds and draw the drapes, but making your rooms feel dark and shut-in is counterproductive. Run the A/C and keep the air circulating. While your wallet may not appreciate the bump in your power bill, imagine how expensive it can be to keep the house on the market.

 

  1. Stage it inside and out. Have a pool deck? What about a garden patio? Make them as inviting as you would the living room or kitchen. Stage them appropriately and tell the story of what it might be like to live with such nice amenities. Think magazine photo shoot!

 

  1. Make the lawn sing. Curb appeal can be king in the summer months, especially when the neighbors’ lawns may be looking a little brown by comparison. Find bright flowers that can withstand the heat and provide a high-contrast to your green grass.

 

  1. Ride the sunset. With the longer daylight hours, you may have buyers who want to check out your home closer to dinner time, once the hottest hours of the afternoon have passed. Try and roll with the disruption… buyers prefer to see a home when the owners aren’t around.

Take advantage of the summer sales activity! I’d be happy to guide you on the buy or sell side of this white hot market . . .

Posted by Debbie Cook | Discussion: No Comments »

Do Homes Expire? Understanding Functional Obsolescence

Can a perfectly useful home “expire”? The answer is yes. If you’ve never heard of “functional obsolescence,” now’s a good time to familiarize yourself with the term.

Sometimes a perfectly nice home in fine shape simply won’t sell. Fresh paint, fine curb appeal, a solid neighborhood… and no offers. Sellers are baffled and irritated. “But I’ve been living in this tv obsoletehome ten years! There’s nothing wrong with it!”

Often the culprit is “functional obsolescence.”

Never heard of it? You’re not alone. Investopedia defines it this way: “A reduction in the usefulness or desirability of an object because of an outdated design feature, usually one that cannot be easily changed. The term is commonly used in real estate, but has a wide application.”

Functional obsolescence can creep up on a home owner, as when a built-in technological feature is no longer useful. Some homes in the 1970s and 80s had old solid-state intercom systems for communicating between rooms. What was cutting edge then is a retro eyesore now. Built-in entertainment center kiosks or furniture are also a good example of this.

Home owners can introduce functional obsolescence with poor renovation choices. Renovations should always be made with an eye on the possibility that a home will be sold down the line, but occasionally an owner will ignore this. Take, for example, the massive kitchen renovation which takes an unreasonable bite out of the living room or a 4 Bedroom House with only 1 Bathroom

Inconveniences an owner has put up with over the years can be classified as functional obsolescence as well. If you have a second floor without bathrooms or a bedroom which must be accessed by walking through another bedroom? That’s a design flaw that can bite you when it’s time to sell.

Neighborhoods can introduce a degree of functional obsolescence as well. When an smaller, older home on a large lot is dwarfed by modern homes with more space, the home itself may lose appeal or value in buyers’ eyes.

Old-ComputerSome other items that render a home functionally obsolete and may be deal breakers:

Posted by Debbie Cook | Discussion: No Comments »

Planning to Sell Your Home in 2015? and Think Spring is the Best Time to Sell a Home? Think Again!

Why selling your Silver Spring or Takoma Park home this winter may be the best, most lucrative route to take if you want to sell this year!

While some sellers think about taking their home off the market in the winter, believing spring or summer would deliver better results, I would caution against this thinking. Here are three reasons why:

Home Sold in Winter

  1. Those home shopping in the winter tend to be more qualified buyers. Often they have to buy a house, or they wouldn’t be facing bad weather and shorter daylight hours to find just the right place.

 

  1. Many people wait to list their home in the spring or summer, meaning available inventory in the winter months is lower.  Are you certain you want to face a market flooded with freshly listed homes?

 

  1. There’s no guarantee the spring or summer will be a better housing market. A variety of factors can influence home values.  What if there’s more inventory and prices have dropped?

 

Right now could be a better time than Spring to sell your Home.   There are buyers out there, and I would hate to see you miss out.  The ultimate decision is yours, but as a professional I like to give the best possible advice I can, based on my experience and the statistics about buyers in winter months.

 

 

Posted by Debbie Cook | Discussion: No Comments »

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