Let’s Talk Real Estate!

Tuesdays in May are Especially for Sellers!

Fall Properties' FREE Seminar Series is back, and we're focusing on different topics each month. May seminars are targeting home sellers, still on Tuesday evenings from 7-8pm.

May 1 - How is fair market value determined? Appraisers and Realtors rely on specific sales information within the most recent 6 month time frame to arrive at approximate market value. Ideally, they compare apples to apples in terms of style, age and location. Please join us for an informational seminar on determining fair market value, including a discussion of hard to appraise properties such as historic and non-subdivision homes. Appraisal forms will be available for reference and we will have plenty of time for Q&A.

May 8 - Pre-Sale Projects - Getting your home 'show ready'   

May 15 - What legal documentation is required when you sell?

May 23 - Will you owe taxes? Understanding your 'basis' and capital gains

You Only Have One Chance to Make a First Impression...

So I've put together some tips to help you maximize your home's curb appeal. A well maintained landscape will draw people into your home, and can add as much as 10% to its value. Early Spring is a perfect time to get started.

Apply fresh mulch. It's inexpensive, easy to work with, and it makes your beds look neat and cared for. It's the perfect background for all of your flowers & plantings. Think of mulch as a neutral -- it will really make the colors in your garden pop!

Brighten up outdoor containers. Give them a good scrubbing, trim away any dead leaves or faded blossoms, and use them at your doorways and on your patio or deck.

Add some instant color. Annuals are relatively inexpensive, and slipping a few into your beds will add interest and appeal.

Groom your trees and shrubs. Get rid of dead branches and leaves, and prune them wherever they look overgrown. If they are blocking windows, trim them back as much as you can. You'll get the benefit of more natural light inside, too.

Tidy up your perennials. If you have plants that aren't healthy, now is the time to replace them. (And if you have plants you want to take with you when you move, this is a good time to dig them up.)

Power wash dirty surfaces. Either rent a power washer or hire someone with one to come out and clean your sidewalk, driveway, siding, fence, deck, patio -- anything that's looking grimy and faded. They will look NEW!

If the outside of your home is neat, inviting, and well maintained you are on your way to a successful sale.

 

 

Top 5 Remodeling Projects that Pay Off at Resale

Every year, Remodeling Magazine publishes a Cost vs. Value Remodeling Report. They divide the nation into 9 different territories and then figure out the cost of remodeling projects and the percentage of that cost you can expect to recoup when you sell your home.

The top 5 remodeling projects that will give you the best return on your investment (ROI) in our area are

1. Replacing the entry door to steel - est. cost $1238; 73% ROI
2. Converting unfinished attic space into a bedroom with bathroom and shower - est. cost $50,148;     72% ROI
3. Minor kitchen remodel (new cabinets, drawers, countertops, hardware and appliances) - est. cost $19,588; 72% ROI
4. Garage door replacement - est. cost $1512; 72% ROI
5. Wood deck addition - est. cost $10,350; 70% ROI 

I read some negative comments from appraisers about the annual Cost vs Value report -- basically saying that they don't give additional weight to these improvements when they appraise a home. My advice would be to use this report as a planning tool, particularly if you plan to move  within the next 3 to 5 years.

Improve your home while you are still living there and can enjoy the improvements, always keeping in mind which projects will pay off down the road. 

 

April Showers Bring May Flowers...

so spend March getting your gutters cleaned out -- it's the most important thing you can do to protect your home from water damage.

Gutters are designed to channel water away from your home's foundation, but they need to be kept in good shape and free of clogs, holes and sags. Clogs are the biggest problem, but also the easiest to correct.

Everything that falls from the sky (leaves, twigs, rain, pollen, those twirlybird things) rolls down your roof and into the gutters. At least once a year, and twice if you have a lot of trees nearby, you need to have your gutters cleaned out.

If you don't mind standing on a ladder while you reach in and clear out the muck, you can do them yourself. Use a garden hose to flush them clear once you've removed nature's detritus. Or you can pay someone to do the job for you ($50-250, depending on the size of your house). You can get gutter covers, but they still need regular maintenance.

Are your gutters are sagging? It's likely a hardware problem. Take a look at the hangers (hardware that secures them to the fascia) and their fasteners -- they deteriorate over time, but can be replaced inexpensively. Leaking gutter joints can be caulked on the inside with gutter sealant, which can also be used to fill small holes.

Now turn your attention to your downspouts. They need to extend several feet away from the house or you'll be dumping rain right into your basement. Gutter extensions are cheap (less than $20 each)and easy to install yourself. Next time you have a good rainfall, check and see if you have water pooling near the house...this would be an indication that you should get some extenders.

Once you have your gutters all spruced up, you'll be ready to sit inside and enjoy the sound of rain on the roof without worrying about any water problems. Curl up and read a book. Enjoy.

Selling (or Buying) a Home with an Incurable Defect

I know you're thinking 'What the heck is an incurable defect?' and does my home have one? An incurable defect is something that will always be there, no matter what improvements or updates you make to your home. There are several types, but we're going to focus on location-related problems. Some examples are:

• Location on or near a busy road
• Steep driveways
• Adjacent to a cemetery
• Proximity to power lines or railroad tracks
• Located in a floodplain
• Near schools or sports areas
• Noise from nearby highways or airports
• Odors from factories or farming

These are all issues that cannot be remedied. Although you can frame your defects as benefits -- close to schools is great for young families, busy roads often mean easy commutes, cemeteries are quiet -- adjusting your pricing is usually the best way to address them

Pricing your home below market will help you compete with other homes that do not have the same challenges. And chances are when you purchased your home, it was priced below market for the same reason.

If you're a buyer who has found the perfect home at a price that seems to good to be true, look for the incurable defect. It doesn't mean the house isn't right for you, but be aware that these problems will follow you when you go to sell your home. And location defects are just one type. Layout difficulties can also impact the saleability of a home...but that's an article for another post.  

 

Is Your Roof Showing Its Age?

It just might be time to repair or replace it. Here are some guidelines to help you decide exactly what your roof needs are.

You should get in the habit of checking your roof at least once a year. Signs inside your home that you might need to make some changes sooner rather than later include dark areas on ceilings, paint peeling on the underside of roof overhangs, damp spots alongside the fireplace, and water stains on the pipes that vent your hot water heater or furnace.

Take a pair of binoculars and check your roof for cracked caulk or rust spots on the flashing, shingles that are buckled, curled or blistered, or worn areas around chimneys, pipes and skylights. If you see any of these problems, especially on an older roof, have a professional take a look at it. Most local roofers will do this for free in hopes of securing the job.

Leaks in an otherwise sound roof can often be repaired for a moderate fee. But if you need to replace your roof, it's a big ticket. Remodeling magazine's Cost vs Value Report for 2011-12 puts an average cost of $18,672, with $12,098 recouped at sale. If you need to take this step be sure to get several bids.

Once you choose a contractor, be sure they are licensed and insured. Be clear on exactly what their bid includes: disposal of old roofing materials, hourly rate for structural repairs, gutter costs, damage to your landscaping. For additional information on your options, here's an article at houselogic.com. While you're at that website, take a look around...it's a terrific resource.

It's Almost Time for (UGH) Spring Cleaning!

I know it seems like we've hardly had much of a winter, but Spring is just around the corner anyway. And even though we haven't had much snow, our families and our pets have tracked in a lot of dirt. Let's buck up and get everything sparkling for the new season!

I found a terrific source online from S.C. Johnson, Spring Cleaning Room by Room that has downloadable check lists for every room. Each list contains tasks, suggestions for who should do them (adult, child or professional), tool and product recommendations, and some great tips.They suggest that you print out each list, make assignments and tape the list to the door so you can mark things off as they get done.

This might seem over-organized, but it does help you go from thinking about Spring Cleaning to actually accomplishing it. And if you make it a family project, with a reward at the end (pizza party, night at the movies, whatever your gang likes), it will go faster. And think about having a yard sale -- it's a great way to turn the things you don't use anymore into a little cash. Happy Cleaning!

Celebrate Earth Day - Add Rain Barrels to your Home!

It's a simple idea - catch rainwater and store it to use later. You'll save money on your water bill, make your plants and lawn happy, and help to save the Chesapeake Bay. And Arlington, Fairfax, Alexandria and Falls Church have teamed up to run a regional rain barrel program that makes it easy to participate!  

Over the past 4 years, 2300 rain barrels have been installed as part of the program. There are workshops where you can build your own, or you can purchase a pre-made barrel -- register here, but don't delay. The workshops fill up quickly.

The black plastic barrels hold about 50 gallons, are 23 inches wide and 41-44 inches tall. They used to hold pickles, olives, peppers or onions, but have been recycled for this program. When you place a rain barrel under your downspout, it collects water from the roof. There is a fiberglass screen built in that keeps mosquitoes out. And once your barrel is in place, you'll be reaping the benefits right away.

Your lawn and your plants will love the rainwater...it's naturally soft and better for them than municipal water. Better for washing your car, too. Since you'll be using the saved rainwater instead of water from the tap or faucet, your water/sewer bill should be less for the summer.

And rain barrels decrease stormwater runoff, so there's less stream erosion and pollution heading into the Chesapeake Bay. Everybody wins!

Thanks to a grant from Dominion Power, you're going to see artistic rain barrels sprouting up all over Northern Virginia this Spring. After a couple of months on display, they'll be auctioned off in June with proceeds going to support the continuing rain barrel program. Happy Earth Day, everyone.

More FREE Seminars for April and May!

Our series of FREE seminars "Let's Talk Tuesdays!" continues to draw people into the  office, so we're keeping them going with some new topics and the repeat of some popular ones. Every Tuesday evening from 7-8pm we offer real estate related seminars, with time for questions afterward. You can sign up online or call 703-536-7001 to reserve your place.

• April 5 - First Time Homebuyer
• April 12 - Home Inspections - common issues
• April 19 - Empty Nester
• April 26 - Growing Pains - expand or build?
• May 3 - Staging your Home to Sell
• May 10 - Home Mortgage update (Frank/Dodd bill implementation)
• May 17 - Homeowner's Insurance - information
• May 24 - Seniors Housing Choices
• May 31 - Estate Planning

Hope to see you here this Spring! And if there's a topic you'd like to see us include in the future, please suggest it. We're always open to your ideas.

 

 

 

 

Congratulations to Sagatov Associates!

On January 29th, the National Association of the Remodeling Industry (NARI) Metro DC chapter awarded their 2010 Capital COTY Grand award for Whole House Renovations: $250K - $500K to Sagatov Associates, Inc. We feel particularly proud since our Michelle Sagatov is married to Yuri, owner of SAI.

The renovation that earned SAI the award converted a single story ranch home into a modern 2-story Craftsman masterpiece, creating an exciting open design for modern living while maintaining a traditional feel. The Capital COTY awards are the highest honor in the remodeling industry, and NARI's DC chapter members include 500 remodeling companies that adhere to a strict code of ethics and professionalism.

Sagatov Associates is one of Northern Virginia's premier Design-Build firms, with over 25 years of high end experience in sophisticated renovations, new homes, designer decks and screened porches, kitchens and baths.

Michelle and Yuri often work as a team to help their clients choose whether to move or renovate. They analyze your goals and budget, explaining the design/build process, so you can make an informed decision about your next step. They will be holding a seminar on the topic "Move, Renovate or Build?" on Tuesday,February 15, from 7-8pm at the Fall Properties offices in Falls Church.