With our current economy many people have stayed put in their starter homes as others have downsized from larger square footage.  Regardless of the reason, the average American home grew smaller in 2009 compared to 30 years of growing in size previously.  There can be some bright spots to living in a smaller space, like a lower utility bill and closer family connections.  This article gives some great tips for how to maximize a small living space and how to see the good side of living with less space.

Exterior improvements give more of a return when remodeling

There is an annual report that examines the cost versus value for home remodeling.  The report is helpful for those who are considering making improvements to their homes, especially if their home is one that they consider selling in the near future.  Historically, bedrooms and bathrooms are where people consider spending their money but the return on the remodel investment is not necessarily there.

According to the 2009 Remodeling Cost vs. Value Report the best return for your money are exterior improvements that often are lower cost projects to begin with.  Adding decks, replacing siding, new doors and windows are among projects that recoup the most money when re-selling a home.  The return on these projects is typically 80% or more.

The annual report shows how important first impressions are.  If you are considering selling your home make sure that the exterior is as eye catching as it can be.

Click here to learn more about remodeling costs versus value at The National Association of Realtors’ website.

An organized closet can make the difference when trying to sell a home

When considering selling real estate the question surfaces, what can I do to improve my home and make it more appealing to a prospective buyer?  Looking at your closets might be the answer.  Closets may be the small improvement your home needs when getting ready to sell.

Newer homes tend to have bigger closets and they aren’t just dark spaces with doors any more.  Today’s closets, thanks to companies like California Closets and other offshoots, are filled with light and organized spaces like drawers, shelves, shoe racks and hanging bars that hang at different heights to accommodate different articles of clothing.  Some closets come across as small rooms.  Regardless of whether you have a new home or an older home, if your closets aren’t organized they can be.

Closets can be do-it-yourself projects or created by a contractor or a closet company.  Remodeling closets can be an inexpensive re-model that can add value to the sale of your home without breaking the bank.

Lowe’s Inside Out E-Newsletter

As a preferred realtor with Lowe’s, I have great access for you to homeowner information, tips and coupons!  Just send your email address to info@mullinaxteam.com and put “add me to Lowe’s newsletter” in the subject line and we can get you set up on Lowe’s monthly, “Inside Out e-Newsletter”.  This monthly email includes a note from me along with other helpful home information, including tips on buying, selling and moving and features periodic links to project starters and Lowe’s how-to videos.

We’re excited about this great partnership and looking forward to providing you with quality information from Lowe’s!

With the season of fresh growth on it’s way, now is the time to get started on your Spring cleaning.  For many it can be quite a job to go through closets, garages, junk drawers and those catch-all rooms.  The easy option is to just trash these things, but why not donate those items to someone who could use them?  Remember, one man’s junk is another man’s treasure!

Donating these items can not only give you a tax write-off, but it can also make a difference in the life of someone you may never meet.  Not to mention it will help give our ever-growing landfills a break.  This article gives some great ideas on where to donate specific items.  With the economy we live in today, now more than ever, we need to look out for each other and help out when we can.  Why not make a tedious task an act of giving for your family this Spring?!

Take time to choose the right broker when selling your home

When preparing to sell your home it is important to find a real estate professional that will best suit your needs.  A warm handshake and a friendly smile is all well and good but if you want to sell your home pick a broker that is experienced and knowledgeable, someone that will do the best job for you.  When selecting your real estate agent here are a few things to keep in mind:

Data.  Get a prospective Realtor to bring in a copy of what they have listed and closed.  They can present you with an MLS report that displays their inventory.

References.  Get references from a potential Realtor and call them.  Find out what other people’s experience with a particular Realtor has been.

Price.  Get an evaluation of your property.  A solid real estate professional will be able to detail what has been selling and for what price.  He will be able to evaluate your home and your location, giving you a value for your home that will help sell it not deter people from looking at it.

Plan.  What does your Realtor plan to do for you in terms of marketing, sales, listing, etc.  Make sure he has a plan for your house and find out what he is willing to do to get it sold for you.

Real estate is often a person’s most valuable asset.  Do your legwork and choose the best broker for your home.  He or she should be a salesperson.  If they can sell themselves to you perhaps they are halfway to selling your home for you as well.

As a northwest Georgia real estate agent, I have 22 years of full-tim sales experience and a team of highly qualified professionals ready to meet your needs.  I’d love to have the opportunity to meet with you and show you how I can help meet your needs.

With the information age we live in today, more and more people are becoming victims of identity theft.  Now more than ever it is important to protect your personal information so you don’t become a victim of identity theft and run the risk of ruining your credit score and potentially lose your chances of qualifying for a loan.  This article by Aleksandra Todorova tells the story of one victim of identity theft and provides several prevention steps you can take to help protect your identity.

For many, putting a monitoring service on your credit may be just the ticket to keep you safe.  However, as Aleksandra states, even this step may not be enough to protect your personal information.  Ultimately the responsibility to protect yourself falls on you, even though there are private companies and other initiatives offering you help.   Do your research today to be sure your credit is protected!

Recently, we have written several posts with information on the short sale process.  With so many details, there is always new information becoming available to help bring understanding to those facing this option.  Not only do we have a website dedicated to short sales, www.avoidbankforeclosurenow.com but we also wanted to provide you with this recent article which helps homeowners facing foreclosure know what steps to take.  It is written from an unbiased stand point to help you make the best decision regarding your situation.

As the article makes clear, getting the advice from an attorney is one of the best steps you can take to make sure your delicate situation is taken care of efficiently.  As a Certified Distressed Property Expert (CDPE), I can help you navigate through this tedious process one step at a time.

The appraisal process often baffles and angers consumers. They may feel that their home is worth a higher dollar amount, and so the appraised value doesn’t always make sense to them. It is important to know that the appraiser is completely independent from lenders, buyers, sellers, and real estate agents, and that the guidelines to which they adhere are dictated by the Uniform Standards of Professional Appraisal Practice (USPAP) and Fannie Mae. In most states, the mortgage lenders must also disclose the purpose of the appraisal, as each transaction carries its own set of rules.

In essence, these important guidelines help appraisers put a fair market value on homes based on comparable sales in the same area, and the home must be compared in size and value.

For example, there is no set dollar figure associated with a great view, pool, spa/hot tub, bathroom upgrades, etc. If a homeowner installs a custom pool that cost them $25,000, but the local marketplace supports the value of a pool at $8,000, then that item will be compared as [$8,000] on the appraisal.

Upgrades can usually be expressed at a higher percentage of their value in newer homes because the only way to obtain those upgrades was to put more money into the cost of building the home. On the other hand, the upgrading or remodeling of an older home is rarely reflected in full in the final appraisal. This is because typically 25-40% of the project involves demolition and the fixing of issues that aren’t uncovered until the project has already begun, such as plumbing or wiring that may need updating.

Ultimately, the value of the upgrades must be supported by comparable examples within the same marketplace. These comparisons must be drawn from current market activity within the last six months to a year. This is a safeguard to prevent appraisers from attaching too high a value to the home in question, and opening up the appraisal for review. This guideline further states that appraisers can only base their opinion on the value of home sales that have actually closed.

Bartow County Real Estate Market Conditions-Days on market decreases while number of homes under contract increases

While the verdict is still out on the overall implications of real estate in 2009, for Bartow County we know a few things.

For one, from January 2009 to January 2010, the average number of days a house stayed on the market reduced from 104 days to 98 days which is a 6% drop.  This is good news for those homeowners currently considering listing their homes.  While 6 days may not seem like a huge decline, it is likely the start of a trend that will take the real estate market back to the seller’s corner.

Additionally, although there are 12% fewer homes for sale from January a year ago (1698 in Jan. 2009 to 1501 in Jan. 2010), the number under contract has increased 88% from 50 in Jan. 2009 to 83 in Jan. 2010.  This shows the buyers market we are currently in that will hopefully get those waiting for homes to sell moving.

If you are thinking of buying a home, right now is the perfect time.  With the ever so slowly stabilizing economy we’re in, we never know how long good interest rates and great deals on homes may be around.  Give us a call to see if we can help you with any of your Bartow County real estate needs.