Remodeling A Home

Have you been dreaming of a remodeled home?  Is your kitchen outdated, your landscaping overgrown, or unusable basement space?  The first thing to consider is how you are going to finance it.  Here are the most common options to make your dreams become a reality.

CASH

Paying cash is the most straightforward option, just save enough money until you have enough for the expense.  This will limit spending outside your budget; however, it can also extend your timeline.

MORTGAGE REFINANCE

If you've been making payments on your home for a few years and your interest rate is higher than current market rates, you may be eligible for a mortgage refinance, reducing your payments and freeing up some of your money.

CASH OUT-REFINANCE

You can tap into your home equity and borrow up to 80% of your home's value to pay off your current mortgage plus take out more cash to cover the renovations.  This option is encouraged only when you are making improvements that will increase the value of your home, as it can add a lot of interest and fees.  

HOME EQUITY

Getting a home equity line of credit allows you to borrow money against the value of your home.  You receive up to 80% of the value of your home, minus the amount of your loan.

RETIREMENT FUNDS

Homeowners can consider pulling money from a 401k or IRA account, even though they aren't specifically meant to cover a home renovation.  This option might incur additional penalties or tax payments, but maybe worth it when making improvements that will benefit them financially in the long run.  

If remodeling is not what you want to do and buying a new home or a resale home is better for you then give me a call.  I'm happy to help you find the home that fits your lifestyle and dreams.

Certified Residential Specialist - Why Not Use The Best

A Certified Residential Specialist® (CRS) is a REALTOR® who has earned certification from the Residential Real Estate Council by completing advanced training and by meeting significant experience requirements. Working with a CRS will make a real difference in the purchase or sale of your home since they have been trained to help save you time and money.

CRSs have professional experience and advanced training to ensure successful, worry-free real estate transactions.

Experience

Certified Residential Specialists® are REALTORS® that have completed a significant number of real estate transactions and have met requirements for advanced training and education. That means that CRSs are experienced professionals who have a proven track record of successful sales and transactions.

Ethics

As REALTORS®, CRSs abide by a strict Code of Ethics and maintain membership within the National Association of REALTORS®. Negotiation Skills As a home buyer or a seller, you face many risks along the way— financial risks, legal risks, even the risk that a home purchase will fall through. A CRS is trained to minimize those risks and negotiate on your behalf to give you peace of mind throughout your transaction.

Negotiation Skills

As a home buyer or a seller, you face many risks along the way— financial risks, legal risks, even the risk that a home purchase will fall through. A CRS is trained to minimize those risks and negotiate on your behalf to give you peace of mind throughout your transaction.

Contact a CRS Today!

Discover how working with me, a Certified Residential Specialist®, can help make your home buying or selling experience a success.

Moving Out Of The Area? Realtors are Great Resources

Real estate agents are a great resource if you planning on buying a home or selling a home. But, did you know that when you move out of the area, they also can be a valuable resource?    I, like other agents, are continually seeking continuing education.  During conferences, webinars, virtual learning events, I am networking with other agents around the world.

Why Is This Important To You

As a Certified Residential Specialist, Buffini and Company agent, an Independent Broker Group agent, and many other certifications and groups that I belong to, I have access to the best of the best agents.  These agents come from all walks of life and locations.

It is important to me, and to you, to refer you to an agent I know is ethical, is the right fit for you, and who is knowledgeable about the area that you are moving to.

Why Not Just Call Anyone

When you decide to move, you will have a lot of other things to think about.  Moving companies, schools, new jobs, what location should I buy-in, where can I stay temporarily, etc.  Why leave it to chance.  The most important decision you make is for your family.  The agents I recommend for you can be a great wealth of information such as Dr's, Vet, church, good places to eat or places to explore.  You could get an agent who is new to the business.  Everyone needs to start somewhere but when you are moving to a location you are not familiar with, I'm not sure this is a good choice.

I am not just real estate agents but a good resource and wealth of knowledge about the market.

When To DIY and When To Get Help

Homeowners can see expenses add up quickly. From home improvement projects to ticky-tack repairs, people are looking to avoid additional costs for their home. But what projects make sense to take care of on your own, and which ones need professional assistance? Here are some examples that will help guide your plans and know which projects to DIY and when to get help!

DIY Projects 

Clogged pipes

You can often fix these with plungers or commercial drain cleaning products.

Broken toilet handle

If your toilet doesn’t flush, remove the tank lid and see if the chain is detached from the lever.

HVAC maintenance

You can easily change your system’s filter yourself. 

Blown fuse

Simply throwing the switch in your circuit breaker could get your power back on.

New light switches

It’s fairly easy to replace a switch. Just make sure you turn off the circuit breaker before touching any electrical outlet. home improvement 101 When to DIY and when to hire help Trained Professional Required

Trained Professional Required

Major electrical work

Anything involving wiring can be extremely dangerous and should be left to a licensed electrician. ÄExtensive plumbing replacement— Replacing any fixtures can cause extensive flooding if not done properly.

VAC installation

Since these are some of the more expensive pieces of equipment in your home, don’t try installing units yourself, as it may void the warranty.

Remodeling Projects

Don't start knocking down or building new walls without discussing the idea with a maintenance or remodeling professional.

Do it yourself or Hire a Professional?  You have to make that call depending on your confidence.  I have many resources if you are in need of a plumber, electrician, or remodel contractor.  Feel free to reach out to me for a professional.  Or a move-in ready homes or new construction homes.  Please reach out to me for any help.  970-672-6069  Margaret Herdt at Turn Key Realtyhttps://www.turnkeyrealtyco.com/.

How to Help Seniors Declutter

Your senior will have accumulated a lifetime of belongings - some pieces stir deep memories while others don’t but they want to keep them.  There is a theory called the "endowment effect" that suggests we place more value on items once we claim ownership of them.  So all the things you "own" have more value to you and it is harder to get rid of.  To help Seniors, or anyone, for that matter declutter, here are a few tips.

Mobility 

Reducing clutter can create more space and reduce the probability of dangerous falls, or tripping incidents that lead to a loss of mobility. In other cases, decluttering can be helpful to you if you are experiencing limited mobility allowing for easier movement throughout the home. This is one way to let seniors know why they are "decluttering".  

Be Empathetic

Seniors are especially fond of items they have collected over time, again the "endowment effect".  It is hard for them to know that they are parting with the past and that a change is coming.  Be patient and keep the senior involved with the process.  Make sure that the care and concern for their wellbeing are being prioritized. 

Create Four Categories 

• Sale
• Donate/gift
• Discard
• Create a room/space for paperwork or items you need to go through
• Discard any worn bedding, clothing, or towels

Take One Room At A Time

By decluttering room-by-room, this can make the task less daunting, especially with a uniform process for each room.  You might consider starting with a room that is less cluttered.  You and the senior will see more progress and the next room will seem less overwhelming to them.

• Use boxes, bags, or baskets for sorting items
• Be sure to donate or sell clothing you have not worn in the past year
• Any items in a storage unit should be discarded or sold

How To Determine If An Item Is Valuable

• Check for distinctive markings
• Research items similarly made online
• Research the artist or manufacturer who created the item
• If you aren't sure, consult an expert

This is a time in seniors lives when they might possibly need some counseling.  Don't hesitate to bring in an Elder Therapist to help with the transition.  The Office On Aging in Larimer County is a great resource for help.

Basement Remodel - What's Your Return

Basement Conversion to Living Area

I have sellers ask me all the time what they should improve.  Recently, I had a gentleman in Greeley, Colorado ask if he should finish his basement and will it be worth the expense.  According to the National Association of Realtor® Research Department, this is what they found.

Consumers’ Viewpoint After Completing the Project: 

• The top reason for doing the project: to add features/improve livability - 57 percent.
• Second most common reason: moved into the home and want to customize - 16 percent.
• Most important result: better functionality and livability - 52 percent.
• Eighty-one percent said they have a greater desire to be home since completing the project, 65 percent have an increased sense of enjoyment when they are at home, and 77 percent have a major sense of accomplishment when they think of the project.
• Joy Score: 9.5 B

Seven percent of REALTORS® have suggested sellers convert a basement to a living area before attempting to sell, but only two percent said the project most recently helped cinch a deal for them, resulting in a closed sale.

Cost Recovery:

• NARI Remodelers’ cost estimate: $40,000.
• REALTORS®’ estimated cost recovered: $25,000.
• Percent of value recovered from the project: 63 percent.

So, as you can see it is more than likely not going to make the home sell faster but will give more enjoyment to the new buyer.  While you recover some of the costs it's not 100%

If you are interested in remodeling, I have contractors who are capable of finishing a basement.  Call me at 970-672-6069  Margaret Herdt Turn Key Realty 

5 Things You Need To Know To Sell Your Probate Acquired Property!

Selling a Probate Acquired property has many challenges that are different from your normal real estate sale. here are 5 things you need to know to sell a home you have acquired in a probate/estate

1. vacant homes

Homes that are vacant for more than 30 days are not covered by standard homeowner policies.  This is a major issue and one that most Personal Representative or real estate agents are not aware of.  Since most families have 80% of their assets in their home, an uninsured tragedy could be devastating emotionally and financially.  Although a Vacant Home Policy is more expensive than a traditional home policy, isn't it worth it to have the asset covered?  We are able to help you find an insurance agent that can solve this problem with a Vacant House policy – month to month.  

2. CLEAN OUT

Many Heirs and Personal Representatives live out of the area. When there is real estate in the estate, the family usually come and take the family heirlooms but are left with an entire home full of contents that they have no idea what to do with. We call this “Probate Quicksand”.  this is one of the biggest challenges when selling a probate home.  Our clean out crews will dispose of the rest – if that is the families wishes. If necessary we have contractors and handyman services to fix up any needed items, pressure wash and clean the home up in order to get the maximum dollars in the sale. Since we are a Probate Resource we can handle most necessary home challenges. It could take weeks/months to find a responsible crew to do this work.  With an out of town Personal Representative, this could take even longer. Many of the people we help never even leave their home and we never meet them. they can stay home and tend to their family and jobs while we do the work.

3. KEEP PROPERTY MAINTAINED

Now you have two homes or three homes or ???  Homes deteriorate when not occupied, so the sooner you decide what to do with this asset the better.  How will you get the yard work done and keep up with maintenance?  We have people who can assist you in maintaining the home.  We are just a call away.

4. OPTIONS FOR THE SALE

You have three options for selling the property.  A. You can sell to a flipper/wholesaler for 70 cents on the dollar. The advantages to this are they buy it "as is".  We have investors who are interested in these type homes.   B. Place it on the open market for market value.  This is usually done by a licensed realtor.  In our current Colorado market, this process usually takes 30-45 days. If repairs are needed, we have a vast group of individuals who can make these necessary repairs.  We have had over 20 yrs selling real estate assets and can help you with this process. or  C. Sell it yourself.  Typically this takes a lot of time that most Personal Representatives don't have.  D.  What if the remaining spouse needs to be removed from the home to a safer environment.  We have a team of people that we can refer you to for help with this matter too.  

5. OPTIONS FOR THE PROCEEDS

After the sale of the assets, the proceeds need to be divided amongst the heirs.  If there are positive proceeds left then it's time to decide what to do with that money.  Will you invest in an investment property to generate further income?  Will you invest the money in stocks, bonds, etc?  A financial planner might be an option.  We have a list of financial planners we work with that can help with this.  Or, if you plan on buying real estate then we can assist you in what type of property to purchase.  It might be a residential property, commercial entity, luxury home, second home, vacation home, townhome, etc.  We have been involved in all of these type transactions and have been selling real estate for 20 years.  

FREE SERVICE So as you can see we have a lot of people on our team that can help you.  Why go it alone?  With so many options at our fingertips and our service is FREE, why do it yourself. 

CALL US TODAY AND LET’S GET STARTED  OR CHECK OUT OUR WEBSITE FOR FURTHER INFORMATION ABOUT WHAT WE DO

www.turnkeyrealtyco/com/probate       970-672-6069     margaret@turnkeyrealtyco.com

Your Real Estate Resource Market Review for March 2019

Northern Colorado Market Report March 2019

As a service to you, I am providing March's real estate market statistics for Northern Colorado. This information has been compiled by IRES which is the multiple listing service (MLS) that serves Northern Colorado, counties Larimer and Weld. As 2019 progresses, I will provide you with monthly updates of these market statistics.

This linked Monthly Market Report will illustrate March's..

• Home Sale Activity
• Average Sold Prices
• Listing Inventory
• Average Days on Market
•  Housing Activity by Price Range

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Walkable Neighborhoods

Loveland CO Public Transporation route

More American's prefer living in a walkable, mixed use neighborhoods with easy access to amenities according to a Community Preference Study done by the  NATIONAL ASSOCIATION OF REALTORS®. More than half (56%) of respondents said they preferred living in a walkable neighborhood over one that requires more driving between work, home, and recreation.  When considering a home purchase, 77% of respondents say they would look for locations with abundant sidewalks, while 50% say they would rather see improvements to public transit systems than initiatives to build new roads. 

While space is important to many home buyers, some say theyare willing to sacrifice more square footage if it means less driving. Nearly three out of five home buyers say they would choose a smaller home if it's location promised commute time of less than 20 minutes.

Walking can play a significant role in your health, your quality of life, and your enjoyment of the outdoors in Loveland, Colorado. 

Old Home vs New Construction

Why do some buyers prefer older homes while others prefer new construction?  Here are a list of ideas for determining whether to buy an older homes vs newer homes.

Older Homes

1. Established neighborhood
2. Established landscaping
3. Window treatment is already in place
4. More character
5. The cooling system is usually in place
6. School systems are already ranked
7. You could see settling or cracks due to poor quality construction - time shows the flaws
8. Usually no HOA or metro district is in place - less monthly cost
9. You may run into older wiring or plumbing
10. Maintenance is an ongoing thing from day one.
11. Most homes are unique
12. Lot sizes are usually bigger

Newer Homes

1. You are starting out with everything new
2. While everything is new there may be some additional expenses such as: window coverings, A/C units, landscaping (back or possibly both), fencing
3. More than likely there will be an HOA - added cost monthly and when you go to sell (transfer fees)
4. Everyone is new in the neighborhood so your chances of connecting with the neighbors are better than in an established one.  
5. Everything is to code or should be
6. Everyone in the neighborhood has the 3 - 5 floor plans (cookie cutter development)
7. Schools may not be established yet or ranked
8. Prices are usually lower at the start of the development.  Each construction phase will have an increase in price, so get in early.
9. You may purchase early in the subdivision development but then the builder stops building.  It could be years before the rest is finished
10. You will experience noise and construction mess during the building up of the neighborhood - dust and extra contractor vehicles.

While there is a home for everyone, not everyone's tastes and buying power are the same.  There is a house for everyone.  You just need to determine what you like.  Whether it is a new build or an existing home from 1920, HAVE AN INSPECTION done on the property.  I've seen cracked sewer lines in new construction.  Just because it's new doesn't mean it's better.  

Utilizing a REALTOR®   can help you make the right decision for you.

Your Real Estate Resource