6 Reasons Why Selling During the Winter May Be the Best Decision Ever

Here are six reasons why selling your home in winter is a great idea.

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Forget what you’ve heard about spring—winter is where home sellers can flourish! Today we’ll be going over six reasons why winter is a great time to sell your home:
 

1. Potential buyers tend to be more serious. In spring, you’ll find tire kickers and lookie-loos who are more interested in finding out what they should price their own homes for. When you list in the winter, people looking at homes are looking to buy. Your home will also stand out because there are fewer homes on the market in this season.
2. Parents have time to look. School’s in session and things have settled down. Parents have had time to think things through and begin looking for an upgraded home. They’re also wanting to avoid the competition of other buyers in spring.
3. Senior citizens want to downsize. They often want to list during the winter because there are fewer sellers, which ensures a better price for their homes.
4. There’s less competition. Because buyers are more serious and there are fewer houses on the market, your home is an immediate option.
5. Buyers have more money. After the first of the year, many buyers have more money due to bonuses and tax returns.
6. Employees are transferred and need homes. This is the time of year where corporations transfer employees, meaning these people need homes fast.

You’re playing the odds when you sell your home, and the odds of selling your home are greater in the winter. If you’d like help with your real estate needs, have any questions, or need more information, feel free to reach out to me at 541-284-8068. I look forward to hearing from you.
 

Remodeling—Is It the Right Choice for You?

 Is remodeling the right way to go for homeowners? The truth is that it depends on whether you plan to stay there or not.

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The answer to whether remodeling your home is the right choice for you depends on your motive. For example, if you’re looking to improve your surroundings and you plan to stay at your home, then go ahead and pursue whatever projects you have planned and can afford.

However, if you’re planning to sell your home, it’s a different story. Dollar for dollar, you usually don’t get the same value you put into a renovated home when you sell it.

Here is a list of major remodeling projects coupled with the recovery rate associated with each:

• Installing a patio. The projected recovery rate for this project would only be about 47%, meaning you’d get less than half of what you put into the project back when you sold the home.

• Renovating your bathroom. The projected recovery rate would be around 70%.

• Upgrading your entryway door. This project has a surprisingly high recovery rate—91%.

• Renovating your kitchen. For this project, you should only expect to receive an estimated 59% return.

• Replacing your windows. This remodeling task has a projected recovery rate of 74%.

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Dollar for dollar, you usually don’t get the same value you put into a renovated home when you sell it.

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If you have any questions about real estate or remodeling, don’t hesitate to reach out to us. We’d be glad to help you out.

Does Your Homeowners Insurance Policy Cover Your Home’s Appreciation?

With all the recent wildfires in California, I wanted to talk about whether or not you are covered by your homeowners insurance policy if a natural disaster was to strike us.

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Today we’re going to talk about whether your homeowners insurance policy is keeping up with your home’s continual appreciation.

As you know, we’ve had many catastrophes lately with forest fires in California. Could that ever happen to your home here in Lane County? It’s always a possibility.

If you live here, you’re obviously aware of how rapidly our home values have been rising over the last few years. Is your homeowners insurance policy keeping up with your home’s increasing value?

Let’s say you purchased an insurance policy 10 years ago when your home was worth $180,000 and today it’s worth $300,000. Let’s also say we did have a forest fire and the home burned down. Does your insurance policy just cover the $180,000, or does it cover more?

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You want to make sure you’re covered if disaster strikes.

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In reality, your land value is a non-factor. The land stays the same regardless. However, the structure of most insurance companies has an automatic adjustment built in.

Here’s how it works. Many companies look at the material and labor costs in your neighborhood to determine the loss and how much will be paid out. They don’t look at the value that is posted on an appraisal. They want to know how much the home is going to cost them to replace.

I recommend checking with your insurance company, because they each do things in a different way. You want to make sure you’re covered in case disaster strikes.

If you want to know what your home’s current value is, we’d be happy to provide you with a free CMA. You don’t need one for insurance purposes, however.

If you have any questions about your Lane County home or your homeowners insurance, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

A Springtime Outdoor Home Maintenance Checklist

I have some spring maintenance tips for your the outside of your home that will have your yard looking its best.

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I dressed up just for springtime today to give you a quick spring outdoor maintenance checklist. These tips will have your home looking its best in no time:

• Clear your lawn of debris such as sticks and branches
• Rake the leaves in the garden beds and the corners of the yard
• Replace your old mulch with fresh new mulch
• Divide and take care of your perennials
• Wash off the outdoor furniture
• Take care of and clean your bbq
• Reattach your hoses to your faucets
• Apply weed killer and fertilizer to your lawn and overseed bare spots
• Power-wash, sand, and stain your deck if needed
• Clean the siding and touch up the paint
• Wash your outdoor wood furniture
• Check the propane tank on your grill
• Repair any broken screens
• Clean your gutters and exterior windows
• Fix and seal any cracks in your driveway
• Plant your summer flowers and bulbs and cut down any woody stems from your plants

Lastly, a quick note on power-washing. It’s easy to select the wrong setting on a power washer and make divots in the wood siding of your house, so double-check that you have it on the “spray” cycle when you use your power washer. I know from experience!

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These tips will get you ready to enjoy your first week of great springtime weather.

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If you have any more questions about outdoor home maintenance items or you’re thinking of buying or selling a home in our market, don’t hesitate to reach out to me. I’d be glad to help you.

6 Tips for Homebuyers in 2018

Are you thinking of buying a home next year? Here is a list of things you need to do first.

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Many of you are considering either purchasing your first home or a larger home in 2018. Before you get started, here are a few things you should consider:

1. Check your credit scores. These range from 300 to 850. The higher the score, the better mortgage rate you'll get. A good score could get you an interest rate as low as 1% or 2%. That’s thousands of dollars saved every year throughout the life of your mortgage. Your credit score is very important.
   
2. Don’t max out your credit cards. Keep around 30% debt on your card and no more. If you can achieve that, your scores will rise considerably.

3. Don’t overspend or open new credit cards. This is one of the worst traps you can fall victim to as a homebuyer.
   

The higher your credit score, the better.

4. Interview at least three agents and pick the one who is best for you. You want someone who is personable, knowledgeable, and has a good work ethic and communication skills.
   
5. Keep tabs on interest rates. They are in the paper every day. If you have the ability, I'd also research a mortgage broker at this time. They can help research rates for you.
   
6. Get pre-approved before you start looking for homes.

If you get all these things in line before 2018, you'll be way ahead of the game
If you have any questions for me, give me a call or send me an email. I would love to hear from you.

Keep Cool This Summer & Save on Energy Costs

Don’t sweat out the summer—there are nine simple things you can do to stay cool and save money on energy costs.

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Some of the same routines we use in the winter to keep warm can actually keep you cool during the summer and save you money on your energy bills. There are nine simple things you can do:

1. Plug any holes around your windows using some kind of foam substance. If it’s in your budget, consider replacing your windows with double-paned vinyl windows, which makes a huge difference.

2. Lower your shades. Drawing the shades cuts the solar heat in your home and helps keep cold air in your house.

3. Keep your filters clean if you have an A/C unit.

4. Use a programmable thermostat. Adjust the thermostat so that if you’re not in the house, your air conditioning will stop for awhile. You can schedule the thermostat to turn the AC back on about a half an hour before you return.

Skip the oven and cook dinner outside on the grill.

5. Unplug your computer and other electronics. There are things we leave plugged in all the time that can have a huge drain on your power. If you can, consider unplugging your computer and turning it off when you’re not using it, which can also protect you from hackers.

6. Use your oven less often. Don’t heat up your house on a hot summer night—use your grill and cook outdoors instead.

7. Turn down the temperature on your water heater. You can do this in the winter to save money as well. The water heater is usually set at 130°, but you can set it at 115° and save at least $50 a year.

8. Get your air conditioner serviced. You should get your furnace and your air conditioner serviced once a year.

9. Change your lightbulbs to energy efficient bulbs. If you can, switch over to LED bulbs, which will make a huge difference in your power savings for the year.

These are great, simple ways to help you save money and stay cool this summer. If you have any other questions or need to be put in touch with someone to help you with any of these tasks, just give me a call or send me an email. I would be happy to help you!

How Should You Approach House Flipping?

Successfully flipping a home requires careful planning. We’ve got some tips for you today that will show you where to start.

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Is house flipping the right move for you? We’ve all seen the commercials and the television shows that make house flipping for a substantial profit look so easy today. However, we know that this depiction isn’t entirely accurate. You can achieve financial success through house flipping, but you’ve got to follow some guidelines. Here are five quick tips that will give you a better chance at success if you’re thinking about house flipping:

1. Have a team of experts by your side. Study what people go through when they flip homes and make sure you have a good, efficient team behind you. A CPA can help make sure you are not monetarily sacrificing too much. A good Realtor can help you find properties, as well as a list of trusted contractors and estimators to help figure out the costs. If you’re handy yourself, you’ve got an even better chance of success. Not having to hire a contractor for every little thing could save you a lot of money.

2. You need to have marketing skill. This will help get your home out there to interested buyers. You also need to have time on your hands. If you have a day job, that can cause delays as well because there may simply not be enough hours in the day.

A good Realtor can help you find a good property and trusted contractors.

3. Location is important. Know where the homes you are picking from are at and the prices that similar homes are selling for now.

4. Can you afford the loans for these projects? The money you borrow will be around 10% to 14%. Any little cost that causes you to go over time is going to cost you in the long run. The bottom line is that you have x amount of dollars and you will save more of that money if you turn the property around as quickly as possible.

5. Have patience. When looking for ideal properties, don’t fret if the first few aren’t what you are looking for. You might have to go through 10 properties to find the right one. Do your homework before starting the project and have some extra funds set aside in case things go wrong.

If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

5 Tips to Keep Your Home Safe While You’re Away

Wouldn’t it be nice to go on a completely stress-free vacation and not having to worry about what’s going on at home? We can help you do that. Some of these tips are obvious, but that doesn’t mean they are are easy to overlook. We’ve got five tips to share that will help keep your home safe and your mind at ease when you’re on vacation.

1. Leave a car in the driveway. This will make it look like someone is home.

2. Have lights and lamps plugged into timers. You can even set them to turn on and off at specific times during the day.

3. Inform a neighbor. Let a neighbor or two know that you are going to be out of town so they can keep a watchful eye on your home as well.

4. Make sure all doors and windows are locked before you leave. Studies have shown that 30% of all entries have been through unlocked windows and doors. It’s a pretty obvious thing, but it never hurts to double check.

5. Let the post office know you will be gone, or have a neighbor pick up your mail for you.

We hope these suggestions help you prepare better.

We hope these suggestions help you prepare better when you take your next vacation. If you have any questions for us, don’t hesitate to give us a call or end us an email. We would love to hear from you.

How Do Escrow Accounts Work in Eugene?

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Today, we’re talking about how escrow accounts work. An escrow account is essentially a money-holding tank. It’s when a third party, such as a loan officer or escrow officer, holds on to a homeowner’s money to pay certain property related expenses. The third party collects and documents the money associated with a particular transaction.

Secondly, an escrow account can be used to pay a mortgage. The lending company can collect the money taxed from mortgage payments.

An escrow account, thirdly, can be used when a party purchases a home and the funds are held on to prior to the final transaction. These funds are referred to as earnest money, which is part of your down payment. It ultimately shows the seller you’re earnest about buying their home. Depending on which loan program you choose and qualify for, you might be required to have an escrow account, especially if you’re paying less than 20% down.

How much is the average fee for the service of an escrow account? The average cost is usually split between the buyer and seller. Typically, it costs approximately $200 and $3 per every $1,000 the home costs. For instance, a $200,000 home would cost you $800, from $600 (from the $3 per $1,000) and additional $200 fee. Split that fee in half between two parties and you have $400.

If you’re thinking about buying or selling a home in the surrounding Eugene area, give me a call or send me an email. I’d be happy to answer any questions you might have!

Ways to Save Money With Your Eugene Mortgage

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Today, we’ll discuss how you can save money with your mortgage. If this is something you’re interested in, think about this. If you were to add one extra payment on your 30-year mortgage every year, you could save seven years worth of payments! On a 15-year mortgage, you could save at least a year and a half worth of payments. Likewise, on a 20-year mortgage, you then subtract about four years worth of payments.

In fact, you could set up an automatic withdrawal into a savings account for a small amount each month. Saving little by little monthly makes it easy to make that one additional payment at the end of the year.

If you’re thinking of buying or selling a home in Eugene, give me a call or send me an email for a free consultation. I’d also be happy to pass on my report called The 90 Things You Can’t Afford to Neglect When Selling Your Home.