Dangers of an Overpriced Home

 

Image source: Shutterstock

When it comes time to sell your home, determining its exact value can be a challenge. Naturally, homeowners want to get the most value for their home. However, if it hits the market at too high a price, it could cause serious complications in the selling process.

 

Attracting the wrong buyers

An overpriced home creates a kind of seller’s limbo that draws the attention of the wrong buyers, which is a surefire way to start your selling process off on the wrong foot.

A vast majority of homebuyers begin their home search online, especially during these days of social distancing amidst the COVID-19 pandemic. If your home is overpriced in comparison to other listings in your area, it won’t appear in their search results. In this way, an overpriced home is blind to its intended buyers and actually drives traffic to nearby listings that are more accurately priced.

An overpriced home can’t compete with listings in a more expensive bracket. Buyers know what they want, and they know what to expect in their price range. When they notice a home is missing the square footage, features, and amenities typically found in others at the same price, they will quickly lose interest.

 

Fewer showings / virtual tours

Showings—both physical and virtual—play a significant role in the sale of your home. They give buyers a first-hand look and provide them the opportunity to ask questions and gather more information. Selling your home is a numbers game. The more showings scheduled at your listing, the more potential buyers you have. The more potential buyers, the greater chance of an offer.

Your agent knows that showings are critical to capturing buyer interest. But if the home is overpriced, they will have difficulty attracting attention to your home. This can slow the entire home selling process, leaving both the seller and agent feeling frustrated.

 

Expired shelf life

Think of the home you’re selling as a fresh tomato. Off the vine (newly listed), it is fresh and attractive, appealing to everyone in the market and standing out amongst the other tomatoes. As time goes on, no one buys the tomato and it begins to overripen and wither, losing its appeal. This is what happens to an overpriced home in the minds of buyers.

New listings attract the most attention—that’s when buyer interest is highest. The longer your home is on the market, the less appealing it becomes. At a certain point, sellers are forced to lower the price. However, this lowered price won’t have the same impact as hitting the market correctly priced the first time. Once price drops begin, they can continue, which creates the risk of selling the home for less than what it is worth.

Lastly, the longer your home is on the market, the more expenses you incur. Mortgage payments, utilities costs and seller’s fees will continue to pile up, making it harder to recover from these costs when your home does eventually sell.

 

Post-sale complications

Let’s say you do find a buyer at the overpriced cost. During closing, the lender will order an appraisal of your home, and if the appraiser finds that the market value of the home is less than the selling price, they could potentially deny financing.
Talk with me about how to price your home correctly to avoid these pitfalls of overpricing. Knowing your home’s worth will set you up for success when it comes time to hit the market.

 

Originally posted in Sandy Dodge


Posted on September 14, 2020 at 7:44 am
Elizabeth Dolton | Posted in Selling |

Patio Upgrades to Finish Summer Strong

Many homeowners have taken this extra time at home as an opportunity to retreat to their backyards and patios, turning their space into their own personal oasis. Here are some ways you can upgrade your outdoor space to make the most of the remaining days of summer.

Image source: Shutterstock

 

Add color 

Add decorative throw pillows to your outdoor furniture to complement your garden’s color palette and bring some added comfort for you and your guests. Brightly colored patio umbrellas make a statement while protecting you from the sun and other outdoor elements.

In addition to having colorful flowers in your garden, another great way to add a little pizzazz to your backyard is through colored pots and planting boxes that enhance the surrounding decor.

 

Decorative lights 

Outdoor lighting can transform your outdoor space and set the perfect mood for those late summer nights.

LED lights are a very popular option for patio lighting, using up to ninety percent less energy than incandescent varieties. Strings of twinkle lights bring a magical nighttime quality to your backyard, creating the perfect ambience for those summer evenings under the stars. Installing light fixtures around eating areas and your landscaping will give these spaces new life during evenings outdoors.

 

Upgrade your BBQ 

The barbecue is the focal point of summer cookouts. Any time the grill gets fired up, classic summertime dishes like burgers and ribs come to my mind. However, there are simple upgrades you can make to your barbecue that give you even more options to maximize outdoor meals.

Pizza stones are perfect for making evenly cooked, delicious pizzas on the grill. They also produce a consistent heating surface for baked goods and desserts. Griddles do wonders for barbecues, allowing you to cook foods that would normally fall through the grates, like vegetables and shellfish.

 

Fire pit 

Fire pits are the modern-day conversation pit, providing the perfect spot to gather with friends and family – even during these days of social distancing. Commonly used building materials include brick, landscape blocks, stone, or cinder blocks. Traditional fire pits are best accentuated with circular seating to gather around the fire, while more modern styles like fire troughs best allow for taking in surrounding views. Natural gas fire pits offer a low-maintenance substitute to the wood-burning variety, igniting fires at the flip of a switch with easy control over the flame’s intensity.

Whichever fire pit you choose, be sure to consult local guidelines and regulations, and keep an extinguisher nearby to squash any rogue flames. If fire pits are not allowed in your area, consider safer options like flameless candles.

 

 

With more time being spent at home than ever before, there is plenty of opportunity to make the most of the home stretch of summer. We hope we’ve inspired you with some ways you can get creative with your slice of outdoor paradise.

 

Originally posted by Sandy Dodge


Posted on September 11, 2020 at 7:39 am
Elizabeth Dolton | Posted in Living |

Ready for a change?

We are your local experts in both construction and real estate. Whether you are looking to sell and capitalize on improvements or simply update your home, we provide professional advice to help guide your decision. Contact us for a complimentary consultation today!

Consultation includes: Home Equity Analysis, Remodeling Ideas, Industry Resources, DIY Guidance, Return on Investment advice, Design & Staging Tips, Answers to your home questions!

Posted on September 4, 2020 at 4:09 pm
Elizabeth Dolton | Posted in Buying, Living, Selling |

How to Improve Your Curb Appeal

When it comes time to sell your home, first impressions are crucial. Improving your curb appeal helps to make the most of a buyer’s first glance and sets the stage for their interest in purchasing your home. The following projects are simple and inexpensive ways to enhance both your home’s first impression and its value.

Image Source: Canva

 

 

Landscaping

 

  • Lawn: A healthy, well-tended lawn goes a long way towards improving your curb appeal. Clean up all weeds, leaves and debris, and consistently water your lawn to give it that fresh green look. If you live in an arid climate, consider grass alternatives like artificial turf for the best lawn aesthetic.
  • Plant colorfully: Adding color variety to your front yard will grab buyers’ attention. Align smaller plants, like groundcover and flowers, neatly within your flower beds, aiming for symmetry when possible. Use larger plants and trees to frame in your entryway or walkup. If your front yard doesn’t have flower beds, try adding hanging planters or window boxes.
  • Lighting: Landscaping lighting boosts your curb appeal during nighttime, accentuates your shrubbery, and adds a welcoming touch for visitors as potential buyers, lighting the way to your door.

 

Image Source: Canva

 

Porch

Front porches set the stage for all your home has to offer. Improvements here will play a significant role in how comfortable potential buyers feel about the property and how inspired they are to explore the inside of the house.

 

  • Door: Your front door is an opportunity to make a tasteful statement. Look at bold color choices that are within or slightly stretch your home’s exterior color palette. Take time to prepare the surface for a fresh coat of paint to make the color pop as much as possible. Try stylish doorknob options that accentuate the aesthetic to give your door some added flair.
  • House numbers: New and stylish house numbers are an easy, eye-catching touch to the look of your porch. Look for styles that match with your exterior color palette and any exterior lighting fixtures.
  • Go for comfort: Incorporating classic front porch elements like a porch swing, sitting bench, and other outdoor furniture gives a welcoming aura to the front of your home and creates a sense of comfort for prospective buyers.
  • Shutters: Windows are the gateway to the inside of your home. Shutters of delicate fabric will bring elegance to your front porch, while wooden shutters deliver a solid, cozy vibe.

 

Other

These miscellaneous projects will add the finishing touches to your home’s curb appeal and get it in prime selling condition.

 

  • Quick maintenance: Small chores and minor fixes like cleaning gutters, repairing chipped paint, and cleaning windows are important for buyers with a detailed eye.
  • Staining: Instead of replacing fences or garage doors, look into applying a fresh stain. This brings a refreshed look and is much cheaper than a full renovation or replacement.
  • Power wash: Power washing your walkways and driveways makes a significant difference in curb appeal. If buying a power washer is outside your budget, explore rental options from the big-name hardware stores.

Originally posted by Sandy Dodge


Posted on August 24, 2020 at 8:39 am
Elizabeth Dolton | Posted in Selling |

Your Guide to Going Solar

For homeowners looking to reduce their home’s carbon footprint, increase its sustainability, and add value to their property, going solar is an obvious choice. Understanding how solar works and how to maximize its benefits are key first steps in your journey to becoming a solar energy-producing household.

Image Source: Canva

 

How does solar work?

The technology that turns your house into a solar energy-harnessing hub is called photovoltaics, more commonly known as PV. PV works by fielding direct sunlight and absorbing its photons into the solar panels’ cells, which then creates electricity that provides energy for your home. This energy reduces your home’s output of carbon and other pollutants, which translates to cleaner air and water.

With the sun as the power source, the majority of the power generation occurs during the middle of the day, making summer the highest producing season. But don’t worry, it all evens out in the end.

Rooftop panels work best when they are exposed to sunlight, free of shade or shadow from nearby trees or structures. Given the sun’s east-to-west path, south-facing roofs are best-suited for maximizing your solar power. To see if your roof is set up for success, consult a mapping service or solar calculator to establish your roof’s suitability. If your roof isn’t up to standard, there are options such as ground mount solar installations and community solar gardens that you can explore.

 

Components

  • Solar panels: Capture the sun’s energy
  • Inverter: Converts the sun’s energy to a form that powers devices
  • Racking: The foundation that holds your solar system in place
  • Batteries: To store the energy generated
  • Charge controller: To control how quickly the batteries charge

 

What are the benefits of solar power?

  • Sustainability: Having a renewable source of energy coursing through your home reduces your household’s carbon footprint and increases your eco-friendliness.
  • Savings: How much money you save by going solar depends largely on how much energy your household consumes and the energy output of your solar panels. The cost of going solar has continued to decrease every year, so you are more likely to save as time goes on. For information on state incentives and tax breaks, explore what options apply to your home by visiting DSIRE (Database of State Incentives for Renewables & Efficiency).
  • Utilities: Whether your utility company charges a flat rate for electricity or charges variable rates throughout the day based on electricity production—i.e. higher rates in the afternoon, lower rates at night—solar power offsets the price you are charged for electricity. It becomes even more valuable during those higher-rate periods or during seasonal fluctuations in utilities costs.
  • Sell it back: Homeowners can sell their solar energy back to utilities through “Net-metering” plans. When your power generation rate is greater than your household’s consumption rate, the end result on your electric bill is a net energy consumption. Refer to DSIRE for region-specific regulations and policies.
  • Home value: A recent study by The Appraisal Journal found that homes with solar PV systems increased their sale price by an average of 3.74%, equaling a premium of $14,329.

Although the right solar solution looks different for each household, what remains true across the board are the environmental benefits and increased home values that solar power brings. Taking all this information into your research will improve your home’s renewable energy and reduce your carbon footprint.

Originally posted by Sandy Dodge


Posted on August 21, 2020 at 6:39 pm
Elizabeth Dolton | Posted in Living, Remodeling |

Buying with Pets in Mind

For many of us, pets play a central role in our home life, so taking into account what is best for them when buying a home is important for both their happiness and that of your entire household.

 

Image source: Canva

 

 

 

Your neighborhood

 

When looking for homes that are well suited to both you and your furry companion, consider the area surrounding the home. If your pet is an indoor/outdoor animal, it’s important to examine the hustle and bustle of the neighborhood. If your pet spends time outside, a busy neighborhood could be dangerous, and depending on the level of traffic, he or she may need to be on a leash at all times.

 

How conducive is the neighborhood for taking your pet on walks? If you frequently walk your pet, look for neighborhoods with sidewalks. If your pet enjoys being off-leash, consider prioritizing homes with green belts, parks, trails, or designated off-leash areas nearby. It’s also a good idea to identify where the local emergency pet centers and veterinarian clinics are to insure there is sufficient medical care for your pet in proximity to where you live.

 

Your House

 

  • Size: Is the house big enough? Depending on the type of pet, or breed of animal, space may be the most important factor in picking a pet-friendly home. If you are moving into a bigger space than you were in previously, understand your pet will likely take to the additional room differently. On the flip side, if you are downsizing, be mindful of how it might impact your pet.
  • Yard: If you have a pet that spends time outside, it’s important to pay particular attention to the yard. Is it large enough? Does it have a secure fence? Is there easy access between the home and the yard?
  • Flooring: Pet-friendly flooring can be tough. Surfaces that can be repaired or refinished when scratched are typically the best options for homes with pets. Sealing additional layers will build up the resistance to damage from paws, claws, and general pet wear and tear.
  • Carpet: Cats are notorious for clawing and scratching at carpet, and dogs are infamous for bringing the outdoors in with them. Consider carpeting of a lesser quality in the area where your pets spend most of the time, or search for carpets that are stain resistant and easy to clean.
  • Stairs: Older pets and multileveled homes are at odds. Consider the age of your pet and how active you expect them to be so that you don’t find yourself in a position where you’re having to carry your pet between floors.

 

HOA?

When looking at a home, ask whether or not it is a part of a Homeowners Association and what restrictions may apply to the property. For instance, certain HOA developments limit the number and/or type of pets per household.

 

Most pet owners take the needs of their pets seriously. In fact, in a recent Realtor.com survey, 75 percent of the respondents said they would not accept an otherwise perfect home if it didn’t meet the needs of their pet. When it comes down to it, prioritizing your pet when buying a home not only insures your pet’s well-being, but that of your household, as well.

Originally posted by Sandy Dodge

Posted on August 14, 2020 at 6:34 pm
Elizabeth Dolton | Posted in Buying, Living |

Setting Up Your Home Gym

As the stay-at-home hours add up, setting up a home gym is not only physically beneficial, but can bring some added mental wellness to the new normal many of us find ourselves in. In comparison to a gym membership, even with the up-front investment of purchasing equipment, an at-home gym can deliver savings in the long run. With far-ranging fitness gear options online, there are more ways to save than ever before.

Image Source: Canva

 

Location, location, location

Before the lunges, pushups, and weightlifting, the first step in setting up your at-home gym is deciding where to build it. You’ll want plenty of room for the activities and workouts you have in mind. Rooms with low ceilings or narrow walls are not well-suited for a gym. They will limit your ability to perform any kinds of jumping exercises or workouts with wide ranging movements. This space is dedicated to physical activity and the environment should support that. If extra space is hard to come by in your home, consider taking your gym outdoors to a patio, multipurpose space, or other less commonly used area.

A space with level, hard flooring, like wood, laminate, or tile, is the best fit for your gym, especially if you plan on establishing a workout plan based around lifting or cardio. Having spatial awareness at all times is important while working out, so you’ll want plenty of light in your home gym. Mirrors are a common fixture in gyms, consider adding one to your wall to analyze your technique.

 

Gear up

  • Strength training: Simple workout tools like kettlebells and dumbbells allow you to perform a variety of workouts without taking up much space. Kettlebells are a great tool for incorporating cardio workouts with added weight. Dumbbells at a lower weight are better for toning exercises, while those at heavier weights are better for low-repetition, bulk exercises.
  • Cardio training: Smaller workout tools such as jump ropes, wrist and ankle weights will add intensity to your cardio workouts. Yoga mats provide proper support while performing core exercises or other body weight circuit workouts during your cardio sessions.
  • Large equipment: To get the most out of large workout equipment like treadmills, stair climbers, and bikes in your home gym, plan for them to be a significant part of your workouts.
  • Additional: Applying a layer of gym flooring will help prevent damage and provide added support. If you prefer music and/or video to accompany your workouts, add speakers and a TV to get the motivational juices flowing.

 

Establish a routine

Your home gym is no good if it gets no use. With zero commute time to account for, arrange a workout routine that suits your daily schedule. Even if you have 30 minutes, getting into a routine of working out is the key to building up your healthy lifestyle in this new normal of home life.

Once your home gym is set up, it can be either your individual fitness sanctuary or an opportunity to work out with others. Invite a friend to exercise via video chat and schedule times to feel the burn together. With more virtual fitness classes available now than ever, surf the web to find the classes that best fit your schedule and desired workout intensity.

 

Originally posted by Sandy Dodge

Posted on August 10, 2020 at 7:29 am
Elizabeth Dolton | Posted in Living |

Colorado Real Estate Market Update

The following analysis of the Metro Denver & Northern Colorado real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. Hoping that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me directly.

https://www.windermere.com/blogs/windermere/posts/colorado-real-estate-market-update–16


Posted on August 5, 2020 at 6:28 pm
Elizabeth Dolton | Posted in Market Updates |

DIY Home Projects

In recent months, homes have taken on additional roles as offices, schools, and places of entertainment as staying at home has become the norm. With the extra time spent inside and the additional wear and tear on your home, this is a perfect time for those Do-It-Yourself projects you’ve been wanting to get done.

Before getting out the power tools, take time to consider the projects you have in mind. If you’re questioning how the renovations will affect resale value, consult an expert, like your Windermere agent. Assess your budget to see if certain projects should be prioritized over others, or if you have the financial capacity for only one or two projects at this time.

 

Image Source: Shutterstock

 

Here are a few ideas:

Landscaping and garden projects: the steppingstones of your home’s DIY outdoor makeover.

  • A great first step is to start with your front yard—it’s the first thing people see when approaching your home and upgrades to it will improve the curb appeal.
  • Start with the hardscaping projects—driveways, decks, fencing, walkways—before installing plants.
  • When it comes time to plant, add organic material to your soil such as peat moss, mushroom compost, or leaf mold for added health.
  • Add in different shapes and textures of plants to give your landscaping a varied, vibrant look.

 

Repainting a room: follow these steps to give any room a fresh look and feel.

  • The repainting process begins by moving all furniture out of the room. If you want to pile everything in the center and work around it, be sure to lay your drop cloths on the floor before doing so and cover your furniture to prevent damage.
  • Repair any damage to the walls and fill in cracks with putty. This is a good time to remove all electrical outlets and switch covers to get the walls completely flat.
  • Choose the appropriate brush or paint roller depending on the size of the surface area.
  • Once the walls are painted, remove your painter’s tape and paint the trim.

 

Flooring projects: how to repair or add flooring that will have you walking through your house comfortably.

  • Wood floor damage: To remove surface scratches from wood floors, use steel wool or fine grit sandpaper and finish with a top coat of polyurethane. For deep scratches, use wood filler that closely matches your flooring in color, and apply a wood finish layer on top.
  • Vinyl floor damage: If your vinyl flooring has ripped up, apply a vinyl flooring adhesive and lay the ripped piece into place. For sections that are completely torn off, use a utility knife to cut a new piece of flooring and apply adhesive when matching the piece back into the floor.
  • New tile flooring: Before you start tiling, wash the floor with a commercial detergent to remove dirt and stains. If you are laying new tile over old tile, make sure the original layer is secure. Begin by laying out the pattern before making your tile cuts. Then you are ready to apply the mastic or mortar, and finally lay the tiles. Let the tile sit for at least a day before grouting the joints.

 

With so many people staying at home, DIY projects are at an all-time high. Doing projects like these yourself may not be easy, but it gives a greater sense of ownership, and can often save you money by not outsourcing the work. For additional help on these projects and to find new ones, check out YouTube’s vast DIY resources.

Originally posted by Sandy Dodge


Posted on July 6, 2020 at 8:27 am
Elizabeth Dolton | Posted in Living, Remodeling |

Organizing Your Home

When organizing your home, knowing where to start can often be the most difficult part. Breaking the process down room-by-room and keeping the following tips in mind will help you get started and keep your home organized in the long run.

Image Source: Shutterstock

Kitchen

Given how much time is spent in the kitchen, it can get disorganized easily. Kitchen countertops are also one of the most frequently touched and used surfaces in a home. Taking items off the counters and storing them on shelving above or below is an effective first step. Open shelves are a great fixture for easy access while preparing and cooking meals. Store the items you use the most here and stow away large tools that you don’t use as often.

 

A lazy Susan is a must-have for kitchen organization, bringing the back of the cabinet to your fingertips. A great home for kitchen items that are heavy, clumsy or messy, they are highly accessible. Cleaning out a lazy Susan is much simpler than cleaning out cabinets, which frees up shelf space for those items that usually sit out on your kitchen counter.

 

Living Room

A good first step for your living room is to take inventory. See what items can be disposed and what might belong elsewhere in the house. Take time to think about the flow of the room and how you envision foot traffic will interact with the space.

 

Multifunctionality goes a long way in the living room. Coffee tables, side tables, and ottomans that are designed with more than one purpose in mind will help to declutter. Look for pieces with underneath storage, drawers, or magazine holders.

 

Bathroom

For both aesthetics and functional storage, open shelving will help take your bathroom to the next level. It provides plenty of room to stow bathroom supplies, towels, toiletries, and brings a more welcoming feel to the space.

 

This is a great time to go through your bathroom products. Discarding old, expired, and unused items will free up additional space and give the room a cleaner feel. Once you’ve cleaned everything out, take this time to reorganize your medicine cabinet with your newly reduced bathroom inventory.

 

Bedroom

Keeping your bedroom organized is a matter of maximizing space and minimizing clutter. If you have limited closet space, try placing a garment rack in a corner or against a wall, or store out-of-season clothing items elsewhere. The underside of your bed is useful for storage. Try functional organizers such as bins and roll-out shelving. Using your dresser as a nightstand or your bookshelf as a décor piece will add flair and cut down on clutter as well.

 

Making the most of the hanging space in your closet is a sure-fire way of keeping it decluttered. Position the most-used items at eye level and stow lesser-used clothes and accessories higher up. Not only does this give priority to your closet which helps you stay organized over time, but it can save you time when getting ready.

 

Garage

A common tactic for creating storage space in your garage is to go vertical. This will help free up space for your stuff while maintaining the space reserved for your vehicles. The garage is also a good home for large or bulky items that you don’t use every day.

 

Going room-by-room will help you piece together the look and feel of the organized home you want to achieve. Be comfortable with clearing out a space in order to put it back together the way you have in mind. Sometimes rooms have to get messier before they get organized.

Originally posted by Sandy Dodge


Posted on June 29, 2020 at 5:27 pm
Elizabeth Dolton | Posted in Living |