 In the unlikely event that disaster strikes, you'll want to be prepared for the worst. After a burglary, house fire, or flood, it's hard to think clearly about next-step details like filing an insurance claim. Having a complete home inventory will relieve some stress by ensuring you're quickly reimbursed for stolen or damaged possessions. Here's how to make one: What Should You Include in Your Inventory?Include any possessions you would want to receive reimbursement for if they were destroyed or stolen, such as expensive furniture, jewelry, firearms, electronics, antiques, tools, and designer clothing. A thorough way to document items is to focus on completing one room before moving on to the next. Also, don't overlook storage places such as the basement or garage. Create an Extensive Record. When creating a record on paper or digitally, you'll need more than just a list of your possessions. Take pictures of each item, include descriptions of their condition, and save any original receipts or serial numbers. There are home inventory apps to help you organize your photos and pertinent information. Take Videos of Your Possessions. Taking a video walk-through of your possessions provides clear documentation without the need to list every cup and fork you own. Get close-ups of smaller items to ensure you have a clear image. Keep a running dialogue while you record to provide descriptions of each item's condition. You'll still want to save original serial numbers and receipts. Regularly Update Your Inventory and Keep It Secure. You should update your inventory when you receive expensive gifts, such as during the holidays or after your birthday. Make it a habit to record new furnishings, electronics, or appliances, and remove items on the list that you no longer own. After all your hard work, don't accidentally lose your home inventory. Make sure it's securely stored in a fireproof safe, safety deposit box, or digitally in the cloud.
0 Comments
 If you're preparing to sell your home, you might be wondering if you should make repairs or improvements before listing it. The answer depends on the overall condition of the property, the type of buyer you want to attract, and the current real estate market. If You Can't Afford Repairs, Sell As Is This applies to major issues like structural damage, plumbing complications, and electrical problems. Keep in mind that your buyer pool will most likely consist of flippers and contractors. While you might have to consider low offers, you won't have to deal with the hassle and expense of repairs. Most Buyers Want a Turnkey Home A move-in ready home comes with expectations based on factors such as the price and the neighborhood. For example, some people will expect upscale interior finishes and won't consider buying a house that doesn't have granite countertops or newer appliances. To get an idea of which improvements would be appropriate, look up houses in your area that are listed at your price point. What About Upgrades? When implementing upgrades, figure out the costs first and then compare them to what the property value might be after the upgrade. If you can't justify a return on the investment, it's worth rethinking the effort. Keep upgrades in line with what other homes have in the neighborhood. Fixer-Uppers Attract Buyers Who Want a Deal Many buyers say they don't mind fixer-uppers, but what they really mean is cosmetic repairs, such as replacing carpets, updating light fixtures, painting walls, or changing cabinet doors. They don't want to deal with moving walls, changing layouts, and doing other time-consuming projects. These types of buyers usually want to make a profit or don't qualify for costlier homes. They are likely to make offers below the asking price. Most homes need at least some minor repairs, such as patching holes and repainting walls. Anything that doesn't work right makes buyers wonder what bigger, invisible problems might be lurking. Since most buyers will use a home inspector, make sure that any potential code violations have been fixed as well. If you can't fix them yourself, hire someone. In a hot market, where properties are scarce, homes sell better with fewer fix-ups. Any home for sale that needs repairs will likely deliver lower prices, regardless of the market's environment. If you have questions about getting your home ready to sell, contact me today.  With existing-home sales continuing their upward trajectory, many economists believe that the housing market is well past the recovery phase. Lawrence Yun, the chief economist for the National Association of Realtors (NAR), believes the market is in a boom phase, with home sales comparable to pre-pandemic levels. "With the sizeable shift in remote work," he says, "current homeowners are looking for larger homes, and this will lead to a secondary level of demand even into 2021."
Homes Sold in Record Time The increase in demand from buyers was evident in the amount of time properties remained on the market. The average property was available for sale for only 22 days in July, down from 24 days in June and 29 days a year ago. Of all the homes sold in July, 68% were available for less than a month. The short time from "for sale" to "sold" is evidence of the housing shortage that continues to plague the market. By the end of July, total housing inventory declined 2.6% from a month earlier and a staggering 21.1% from a year earlier. At the current sales pace, unsold inventory would supply the market for only 3.1 months, down from 3.9 months in June and 4.2 months in July 2019. According to Yun, this lack of inventory will impact sales. "The number of new listings is increasing, but they are quickly taken out of the market from heavy buyer competition. More homes need to be built." Property Prices Climb The lack of inventory is leading to an increase in home prices. In its latest data release for metro home prices, NAR recorded that in 2020's second quarter median single-family home prices increased in 96% of measured markets when compared to a year earlier. Median prices climbed 8.5% year over year. What's more, every sales region in the country recorded price gains. Home prices have seen year-over-year increases for the past 101 consecutive months; July's price increase marked the first time median home prices climbed above the $300,000 level. Regional Sales Breakdown for July 2020 Every sales region in the country reported double-digit, month-over-month increases. Only the Northeast saw a decline in year-over-year sales. Median home prices climbed in every region when compared to July 2019 data. Northeast: Existing-home sales annual rate of 640,000; an increase of 30.6% from June 2020, but a decrease of 5.9% from July 2019. The median sales price ($317,800) increased 4% from July 2019. Midwest: Existing-home sales annual rate of 1.39 million; an increase of 27.5% from June 2020 and 10.3% from July 2019. The median sales price ($244,500) increased 8% from July 2019. South: Existing-home sales annual rate of 2.59 million; an increase of 19.4% from June 2020 and 12.6% from July 2019. The median sales price ($268,500) increased 9.9% from July 2019. West: Existing-home annual rate of 1.24 million; an increase of 30.5% from June 2020 and 7.8% from July 2019. The median price ($453,800) increased 1.3% from July 2019.  Investing in some high-quality decorative pieces will add that atmosphere of polished flair to your home that everyone wants. Here are some splurge-worthy home decor ideas that make up for the extra expense with style points: Invest In a High-End Piece A single classy piece brings a room up a notch instantly—even if it costs as much as all the room furnishings and accessories combined. It's worth splurging on quality furniture, rugs, light fixtures, and artwork. Choose something that's meaningful to you and that you'll enjoy seeing every day for years to come. Add Gorgeous Lighting Updating a light fixture in a living room or dining room is the equivalent of updating the appliances in the kitchen. New light fixtures not only improve the appearance of a home but can also increase safety and energy efficiency. Consider whether it makes sense to install a single statement light fixture or layer multiple types of lighting. For example, pendant lighting and recessed lighting in a kitchen work beautifully. If you aren't sure how to start shopping for lighting, gather inspiration online and consult with a lighting specialist at a hardware or home improvement store. Go Big with an Area Rug You don't have to recarpet the entire room to provide a new look for your home. Laying down an 8-by-12 area rug with a modern or traditional pattern can alter the entire space. Similarly, smaller area rugs can be used as accents to your flooring by adding color and texture to wood floors or stone tile. Natural plant fibers like sisal and jute can give your rooms a more open, casual feel that is particularly pleasant for warm weather months and in a room that offers a good view of the outdoors.  The backyard isn't at the top of most homeowner's home-design plans, which may be a good thing. Because when it comes to designing outdoor living space, you'll want to have a well-developed decor style that fits your personality. Here are design elements that appeal to six different personalities: The Traditionalist: Classic Comfort What is the primary purpose of a patio? A place for sitting and relaxing. Attractive, sturdy pavers in appealing patterns provide easy walking and an artistic base for conversation nooks of tables, chairs, planters, and picnic tables. The Bohemian: Fire Pit Fire pits create a cozy outdoor atmosphere, especially as we move into late summer and early fall. Consider wood fires to keep mosquitoes at bay—everyone appreciates freedom from bugs! The Modernist: Multiple Levels Homeowners seeking a modern look can consider a range of options for walkways and pavers that might include steps and slopes to wind through a terraced garden. The Eclectic: Water Features They're not just for swimming. Homeowners can show off an eclectic backyard style with a fountain, fishpond, or other water feature that makes a splash. The Rustic: Outdoor Eating Bring cooking outside to a new level, with advanced outdoor kitchen units that allow guests to assist in meal preparation or simply chat with the host chef while enjoying the setting. The Industrial: Unique Lighting Want to make a statement and set a mood in an outdoor setting? Get creative with light by including hardscape lighting and illuminated planters, or short-term elements such as lighting fixtures that highlight cool metals and metallics for a more urban, industrial vibe.  Applying for a mortgage may not be as fun as looking through listings to find your dream home, but getting your financing approved is the first step in the house-hunting process. It's important to do more than just get an online quote from a mortgage lender. You should enter the house-hunting process with a preapproval letter in hand. Here's why: You'll Know Your Price Range Finding out the cost of a house you can afford will save you from shopping for homes that are outside your budget, and you'll also know what loans you qualify for. There are zero down payment loans available through the VA or other low down payment options available through the USDA if you qualify. Keep in mind that a loan with a smaller down payment usually means a higher interest rate and a higher monthly payment. Serious Buyers Are in a Stronger Position to Negotiate Having a mortgage preapproval confirms you are a serious buyer. When you negotiate with a seller, the discussions will be more productive when they know you are serious about buying. Sellers might also be more open to consider lowering their price or making other concessions to close a sale. Start Now to Get the Paperwork Out of the Way Applying for a mortgage takes a lot of paperwork. You'll need to collect your W-2s and tax returns and bank statements and pay stubs. Getting all your paperwork ready will speed up the home-buying process. The sooner you get your paperwork together, the quicker you'll be able to move to closing when you find your dream home. Know How Much You Need to Pay at Closing When you decide on a home to buy, you need to do more than just make the down payment. You also need to write a check for the closing costs, which can include origination fees, appraisal fees, and title fees. While the seller will usually pay a part of the closing costs, you'll pay a large share, typically about 2%– 5% of the mortgage amount. If you talk to a mortgage lender, you'll know how much your loan is likely to be and what kind of closing costs you need to be ready for. Take Advantage of Low Interest Rates Mortgage rates are historically low, which means your monthly payments will be less than what they would have been just a few months ago. If you're concerned that loan shopping negatively affects your credit score since it results in a credit inquiry, know that the damage is minimal—possibly 5 points. Applying to multiple lenders within a 45-day window is counted as a single inquiry on your credit report. If you're ready to get preapproved for a home loan, contact me today.  A welcoming and comfortable kitchen is the heart of a happy home. If you've spent time and money on a remodel but still feel something's missing, a few final touches that add extra character and style can make all the difference. Here are five simple and affordable ways to make your kitchen a room that you'll love to spend more time in. Glass Jars and Containers Open shelves filled with glass jars provide a fantastic-looking storage solution. Fill clear jars with dried beans, grains, or pasta for a rustic effect. Smaller colored-glass jars filled with herbs and spices are an attractive addition that also makes it easier to add zest to your cooking. Hanging Pot Rack A hanging pot rack is a storage option that also adds style. Hang your best-looking pots and pans above your stove so they're always within easy reach while also adding a sense of height and drama to the room. Hanging racks are available in a range of styles and finishes, including wrought iron for a rustic look and stainless steel or chrome for a more modern, minimalist kitchen. Under-Cabinet Lighting Under-cabinet lighting combines style and function. It eliminates glare from overhead lighting in small areas and adds atmosphere and interest. Choose strings of LED lights to provide a welcoming glow around the room, or carefully placed spot lamps to brighten murky work surfaces and gloomy corners. Baker's Rack If you have a spare corner or length of a wall without installed cabinets, a baker's rack is a decorative and practical addition. These impressive pieces of furniture offer a great combination of drawers, shelving, and hooks and can be a useful piece of extra work surface. Use them to display your favorite dishes and pans or your most attractive gadgets and gizmos that you don't want to hide. Wall Art and Pictures Lastly, a kitchen might not be the place you immediately think of for hanging your favorite works of art; however, an extra touch of decoration can make a huge difference in the feel of this essential room. Food is perhaps the most obvious subject matter to use, but try painted scenes of nature to send your décor in a rustic direction, or photographs of cityscapes or pieces of abstract art for a more modern slant.  When you’re selling a house, making improvements beforehand can help maximize the home’s value. Even if you have no plans to relocate in the near future, enhancing your living conditions makes sense. Use this information from Remodeling magazine’s annual "Cost vs. Value Report" to get the best return on your investment when you sell. Invest In Exterior Upgrades Improvements to your home’s exterior can pay for themselves by drawing in potential buyers. If you have no plans to sell, they positively change the ambiance of your property and boost curb appeal. Adding manufactured stone veneer increases value the most—up to 95%. This synthetic material installs just like real stone. Upgrading the exterior of a home with low-energy windows and vinyl siding is also a good investment. You can recuperate up to 75% of the cost of this particular home improvement. Replace the Garage Door Upgraded garage doors yield a high return (94%), but you’ve got to choose the correct type. The best garage doors feature durable materials, insulation, and energy-saving finishes. Resilient garage door materials include aluminum, fiberglass, and steel. If you want the look of wood, choose composites, as real wood doesn’t stand up to weather challenges. Add a Deck in Time for Summer Adding a wood deck usually yields a slightly larger return (72%) than composite materials (66%) because the upfront cost is cheaper. But you’ll want to check with your local home improvement center because a wood deck can be more expensive to maintain. When it comes to sizing, keep the square footage relevant to the proportions of the yard and home. Generally, 300 square feet is an ideal size. Regardless of the measurements you choose, make sure to include a railing to enhance safety. Remodel the Kitchen, the Heart of the Home Kitchen remodels rank at the top for homeowners and buyers alike. However, bigger changes aren’t necessarily better. Smaller remodels garner more returns on investments; they can repay up to 27% more compared to major upgrades. Energy-efficient appliances, updated flooring, modern countertops, and upgraded sinks with contemporary faucets make the best improvements. Modernizing the cabinets also allows for good return of costs. If you can’t replace the cupboards, repaint them and add updated hardware. Overhaul the Bathroom Bathroom remodels follow the same guidelines as kitchen renovations. Carefully chosen updates yield larger returns than all-out, upscale remodels. It pays to upgrade counters, fixtures, lighting, tiles, and toilets. You can pick and choose, but it’s a good idea to tackle the oldest items first.  When you work from home, it can be difficult to sustain the same level of focus that you have in the office. Your home is where you relax, play games, and watch movies. All those distractions are within arm’s reach, and it can be difficult to avoid temptation. Follow these tips to remain productive while working from home.
1. Dress for Success It may feel silly to get dressed when you don’t need to leave your house, but spending days on end in your pajamas will impact your ability to be productive. It’s important that you keep your daily routine. You want to continue activities you would normally do if you were heading to work, like taking a shower and getting ready in the morning. After you get dressed, it will be easier to push yourself into work mode. 2. Set Strict Hours Just because you’re at home doesn’t mean you don’t need to have consistent work hours. Setting work hours for yourself will keep you on track. Don’t let the day get away from you. Give yourself a regularly scheduled lunch break just like you would have at the office. Maintaining the same work hours you had before you worked from home will help you to retain a sense of normalcy. 3. Set Daily Goals Each morning before you get started, make a list of goals you want to accomplish during your workday. Every time you do a task on your list, cross it out. Having a physical list and being able to cross off goals when you have finished them is very rewarding. Let your to-do list guide your day. The more you are able to cross off your list, the easier it will be to continue working. 4. Take Exercise Breaks If you are finding it difficult to focus, take a break, but don't allow yourself to do anything too fun or relaxing when you’re on a work break. Enjoyable activities will only serve to distract you, but exercising should keep you focused and energized. You don’t need to head to the gym to work out; just pull up a quick exercise routine on your phone and use it to center yourself before you get back on task. 5. Hide Your Phone Unless you use your phone for work, you should turn your phone off until you’ve finished your tasks for the day. Your phone is a huge distraction, and it takes only one text message notification to potentially derail your focus. For the hours when you are working, set your phone aside and keep your focus entirely on your job. |
AuthorsA variety of real estate related references and pertinent information by various contributors. Get the latest real estate news and helpful tips regularly. |
Avant Properties
1350 Old Bayshore Hwy Suite 520
Burlingame Ca 94010
Main Tel. (650)796-5565
Burbank Office at (818)653-5358
Email: [email protected]
DRE #01352623
1350 Old Bayshore Hwy Suite 520
Burlingame Ca 94010
Main Tel. (650)796-5565
Burbank Office at (818)653-5358
Email: [email protected]
DRE #01352623