Resolve to Get Your House Ready to Sell

Even if You Aren't Ready to Sell

It's the time of year when celebrations give way to resolutions. Some people think about them a lot and are meticulous and make resolutions with step by step plans of how to achieve them - while others are hastily made after a night of too much celebrating!

This year, why not be deliberate and make a few house resolutions?

As a Real Estate Agent I see it so often with people who are selling a home - they do things to make improvements to their home to make it sell better such as:

© Jameswimsel | Dreamstime Stock Photos

• put on a fresh coat of paint
• deep clean to get the dust and grease out of corners
• purchase new appliances
• pressure wash the exterior
• replace light-bulbs and/or fixtures
• clean out and organize
• make cosmetic repairs

And, without fail, sellers say something along the lines of  "Why didn't we do this sooner?" They realize that they enjoy their home so much more with it being repaired, cleaned and organized.

This year, consider making a house resolution to get your house ready to sell - even if you aren't ready to sell! Make your home a better place to be - improve the Fung Shui, new flooring, a clean basement, donate the clothes that don't fit anymore that you've been hanging onto for six years, give away the baby toys, etc.

Not sure what improvements to make? Go to an open house or two - it will change your perspective. Then, go home and keep your eyes open! Instead of being in a rush to put the groceries away, get the dog out or the children to bed, look at your house - I mean, really look at it! Is there dated wallpaper that you just don't notice anymore? Is the paint chipping from the door trim? A torn screen? A wall where the door knob has pushed through? Make a list of the things you see because it won't be long before you don't notice them again (until you're ready to sell).

Take the list and use it to make your house resolutions! One fix a month, every other weekend? Trust me, it will feel good to cross them off and you'll begin to enjoy your home more because even though you may not see the "issues" you know they're there and they stay in the back of your mind as something that needs to be done.

Here's the bonus - when the day does come that you're ready to sell and you call me to come preview your home and give you a value estimate and market plan, you won't be saying, I know I need to clean out the closets, fix the leaking pipe and update the bathroom and be on a deadline to get it done.

Being ready to sell provides an amazing sense of power...you may not be in the market for a new house but if you just happen to see your dream house come up for sale, with your house fixes done or at least underway, you'll be in a position to sell and buy.

Need an open house to go to for inspiration? Join me for one:

• January 8 from 11 am to 1 pm at 7 Mary Street in Auburn
• January 8 from 2 to 4 at 903 Beverly Drive in Camillus
• January 15 from 2 to 4 pm at 2839 Jugg Street in Moravia

Feel free to reach out if you have questions about what should be done at your house to be ready to sell. Happy New Year! Make 2017 a great one!

Amber Spain-Mosher is a real estate agent with RE/MAX Masters in Skaneateles helping people buy and sell across Central New York's unique communities including Skaneateles, Marcellus, Spafford, Marietta, Sennett, Camillus, Baldwinsville, Lysander, Memphis, Fairmount, Syracuse, Geddes, Onondaga, LaFayette, Jamesville, Moravia, Owasco, Union Springs and more! 

Fresh Eggs with a Side of Zoning

Our generous neighbor gave us some beautiful chicken eggs that were all different colors - browns, tans, green/blues and a single white one - and they were all different sizes too. The variety has been delightful!

Every time I've opened the carton to use them I get to pick a color, a size - it's been fun for my 5 year old twins too who like the blue/green ones. They were surprised when I cracked them open and they looked like the eggs they're used to seeing.

I would love to have chickens (I think - they may be more work that I'm up for, if I'm honest) but the zoning where I live prohibits me from having them. My neighbor lives just over the Marcellus Town line so they're able to have them because the zoning allows for it.

In my work as a real estate agent I talk with more and more people who want pastured chickens - for the health benefits better eggs that deliver a healthy breakfast but also to help reduce the number of ticks in their yards to try to help prevent Lyme Disease. I know several people who have been diagnosed with Lyme Disease with varying degrees of impact - it's truly a scary disease. It seems to me that we could use more chickens in our communities to reduce the tick population.

But back to my original thought, if you know someone who is shopping for a home and may want to have chickens (or livestock) in the future - zoning is important. Here's an example that may surprise you - would you believe that in the Town of Onondaga, you'd have to have at least five acres to have just one chicken? It's true! I worked with a buyer who was interested in a property that had a house, a huge barn, chicken coop and a pond that sat on two beautiful acres. Unfortunately, the property was in the Town of Onondaga so their dream of using this property for some chickens and a few other animals was squashed because it didn't have enough acreage.

Anyone can find out how a property is zoned by calling the municipal office and speaking with the zoning or codes officer - or, if you're in the process of buying a house, your agent can help you.

A Batlle for Recognition

I just love this story in the Auburn Citizen/West Onondaga County Journal about Lakeview Cemetery in Skaneateles and Jorge Batlle's efforts to get it placed on the National Register of Historic Places through the National Park Service. It's such a beautiful place and so well taken care of. Those of us who live in or have lived in or will live in Skaneateles are lucky to have people like Jorge and his wife Beth Batlle working to preserve the local history and also inform and educate people about it.

This photo is from the article (taken by the reporter Jonathan Monfiletto) and it's of Burrow's Chapel which can be seen from Genesee Street in the village. My mother, Barby Bendall Spain has been involved over the years in raising money to help keep this building up.

I hope Jorge is right and that we will soon know that the cemetery is on the National Register of Historic Places.

Fish Today - Santa Tomorrow at Bass Pro! 

Earlier today we went to Bass Pro at Fingerlakes Mall in Auburn to see the fish - and were surprised to find that Santa will be there starting tomorrow. Now you can plan your visit! 

Fish today, Santa Tomorrow! 

Top 12 Tips for a Safer Holiday Home

Our world is full of risk at every turn—from perilous jobs to dangerous driving conditions – especially as the CNY winter sets in with snow. That’s why we all love to get back to our homes and not worry about everyday safety hazards. It’s great to feel comfortable and safe at home, but is it as safe as it can be?

Your home should be your haven: the place where you will be protected from harm. It should be a top priority, and yet every year 1200 people or more visit the emergency room during the holiday months due to accidents and unintended injuries sustained from hidden dangers around the home.

With a sharp eye and preventive action you can reduce the chances of lurking safety dangers for everyone who visits your home.

The Top 12 Home Safety Tips

1. GOOD LIGHTING— Adequate lighting reduces the risk of tripping and falling both inside and outside your home. This is especially important in winters when days are shorter. Critical areas that need to be illuminated are the stairs, exterior, and foyers. Make sure your street number is well lit and visible from the street to aid first responders with finding your home. The fix: Make sure adequate wattage is utilized and long-life bulbs and motion detectors are in place. We just installed a solar motion-sensor light and it’s fantastic!

2. ELECTRICAL PROBLEMS?— Electrical issues, like a flickering light or a dead outlet, can be mild annoyances that actually signal serious dangers. If not addressed promptly, a faulty electrical system can result in house fires and shocks. The fix: If you’re experiencing any problems with your electricity, contact a professional right away. Also, make sure electrical cords are not frayed or pierced and extension cords are securely connected. Do not run too many cords to a single outlet. Unplug small appliances, space heaters, and power tools when not in use. (Remember – extension cords are meant for temporary use!)

3. DO ROUTINE CLEANING— Not maintaining appliances leads to a greater chance of accidental home fires. The fix: Do simple tasks regularly like cleaning grease off your stovetop, emptying the lint trap on your dryer, and keeping your chimney clean and clear.

4. SMOKE AND GAS DETECTORS— Every home needs functional warning devices that detect smoke and gases. The fix: When purchasing smoke alarms, make sure they also detect carbon monoxide, a deadly gas that is especially dangerous because it is colorless and odorless. Replace the batteries every six months—or whenever you change your clocks. Create an emergency evacuation plan, build a preparedness kit, and practice regular safety drills with your family to ensure awareness of procedures.

5. SECURE YOUR HOME— Many homes now have the latest technological advancements but still rely on locks and hardware from decades ago to keep you safe from intruders. The fix: Do an audit of all entry points to your home—doors and windows and screens. If any do not have secure screens, locks, and deadbolts, have them installed. For those entry points that do already have door knobs, handles, and locks, make sure that they are in good working condition.

6. WHEN YOU ARE AWAY— We all enjoy long weekends and out-of-town vacations; unfortunately that leaves your home vulnerable to intruders. The fix: Create the illusion that someone may still be there. Leave a TV or stereo on in the room where a burglar would most likely break in. Use smart home technology or timers to turn on lights for a time in the evening. Have neighbor pick up mail and the daily paper. Turn down phone ringers, keep blinds drawn, and don’t leave unsecured valuables in the home even if you think they are well-hidden. Never hide keys around the home or garden, and don’t leave notes on the door that suggest you are out of town.

7. HOUSEHOLD REPAIRS— Even if you are an expert and know your way around electrical, plumbing, or other household repairs, proceed with caution. A poor repair could be a recipe for disaster. The fix: Call a professional – feel free to ask me for a referral for a trusted contractor.

8. VEHICLE CAUTION— Remember that there is danger even before you drive on the street. If you are backing your car up, watch out for children and pets on the sidewalk and road. The fix: Be cautious and proceed slowly when driving vehicles in or out of your driveway. If your driveway does not have good visibility in both directions, walk down and look in both directions before you get in your car.

9. MAKE IT SAFE FOR VISITORS— If you are hosting friends and family, consider what additional safety challenges they may face. The fix: Put yourself in the shoes of a small child and look for low, hard edges, sharp objects, easy-to-open cabinets with chemicals and/or cleaning agents. Look for falling and tripping hazards that may fell seniors.

10. BRACE YOURSELF— Heavy objects are rarely braced in the home. Appliances, artwork, bookshelves, televisions, tall dressers and aquariums present real hazards if they are knocked down by a person or a natural disaster. The fix: Strap and brace heavy objects and use security hardware for large artwork.

11. UNCOVER HIDDEN DANGERS— If your home was built before the late seventies, there’s likely lead in the paint under the top coats on your walls and windows, and there might be traces in the varnish used on many hardwood floors. In addition, asbestos often can be found in insulation and “popcorn” ceiling textures. The fix: Hire a licensed contractor to test for possible contaminants and remove them safely, especially prior to a remodel.

12. MOTHER NATURE— Your homeowners insurance will cover you in many instances, but did you know that you may not be insured against natural disasters like floods or tornadoes? They typically require an additional policy. The fix: Contact your insurance agent to make sure you have adequate replacement coverage as home values escalate and coverage amounts can stay static. Discuss costs for adding disaster policies which may or may not make sense based on where your home is located. I always say I’ll take the CNY snowfall over earthquakes or hurricanes!

Safety Dangers to Kids You May Not Think About

Do you have small children who live with you or have some who may be visiting soon? With the holiday season rapidly approaching, your home may welcome friends with young children and older family members. This makes now the ideal time to survey home your home for potential safety problems.

OPEN WATER

Did you know that as little as an inch of water can be a major hazard? A pail of water in the yard, large puddles from a storm, even a washing machine can induce a small child to trip or fall into and become at risk. The fix: Watch for open ice chests and other standing water, and don’t leave toilet seats open.

SMALL BATTERIES

Button-sized lithium batteries power small electronic devices, including remote controls, watches, musical greeting cards, and ornaments. When accidently swallowed, they can get stuck in the esophagus and generate an electrical current that can cause severe chemical burns and tissue damage. The fix: Only let small children play with mechanical devices and toys under supervision, and make sure to put these items away when not in use.

WINDOWS AND STAIRS

Every year, more than 5,000 kids end up in the emergency room after tumbling out of a window. Combat that by installing window guards or window stops so kids can’t fall out. Stairs are another potential hazard for youngsters with less-than-perfect balance. The fix: Baby gates can prevent young kids from venturing up or down. Steps should always have firm footing and be clear of objects as even older people can slip and fall or trip on items left on the stairs.

FAMILY PETS

Cats can scratch a child not used to playing with finicky felines. The family dog may be big and loving but can outweigh a child by five times. Children can be easily knocked down, nipped, or even bitten by a dog not used to the activity of small children. The fix: Monitor play activity and make sure your pet is not getting anxious or annoyed.

CORDS

Babies can be strangled by cords on blinds and shades. The fix: Excessive cords of all types should be removed or secured down. Always keep cribs away from windows with loose cords.

Now’s the Time

With the upcoming holidays at hand, now is the perfect time to survey your home and address potential safety hazards to yourselves, your family, and your friends. It doesn’t take long, most fixes are very inexpensive and simple to do, and your efforts will pay dividends in peace of mind for years to come.

If you would like our advice on how to make your home safer or would like a list of trusted sources for home repairs, please contact me today. It’s my business to ensure that your home is safe and secure for your family. I’d be happy to meet with you at my Skaneateles RE/MAX Master’s office at 16 Jordan Street, Skaneateles, NY 13152 (conveniently located between Doug's Fish Fry and Johnny Angels) or feel free to Visit my webpage, email me at amberspain@remax.net or call/text me at 315-420-2985.

Beauty Abounds! 

I took this photo at Baltimore Woods last week when I was there for a school field trip with one of my twins. It has been one of the most beautiful falls I can remember!

Understanding Home Equity: The Playbook

What is Home Equity?

Home equity seems to be a very simple calculation — the total amount of mortgages owed subtracted from the current market value of a home. Here is a simple example:

Current Home Market Value       $325,000

Existing Mortgage                      $225,000

Homeowner Equity                    $100,000

One side of the equation is well defined, and it is found on the monthly mortgage statement, the loan balance. The other side is less obvious — the current market value of the property.

As a homeowner, your down payment purchases your initial equity, and your monthly (or additional) principal payments increase your equity. In strong real estate markets and in-demand locations, equity can increase quite rapidly as the property value increases, but the inverse can also happen — too much available inventory and market down-cycles can lead to falling home values and a reduction in homeowner equity.

It can be difficult to put an accurate value on something in which you are emotionally and monetarily vested. It is safe to say that most people think their home is worth more than it is whether you are at home in Central New York or elsewhere!

Homeowners can make savvy assessments about their home’s current market value by following the sales of similar properties in the neighborhood, but should be leery of websites such as Zillow and Trulia, which provide inaccurate and outdated estimates. The most accurate measurement requires a comparative market analysis from a real estate professional or having the home professionally appraised. However, the bottom line is that your home is worth as much as someone is willing to pay for it.

Creating Value is in Your Hands

Maintaining the condition of a home is vitally important to retaining and increasing value. Homes are judged against their peers: how they compare to similar homes in the neighborhood. Another way to retain value is to not over upgrade, since it is rare to ever recoup the money spent if you exceed neighborhood value. Keep up the landscaping and do the little things to add curb appeal.

Putting Home Equity to Work

Home equity represents the largest single asset of millions of people, and because it represents so much of an individual’s net worth, it must be treated with respect. Home equity is not a liquid asset until a property is sold, or it is borrowed against.

There are two types of loans that tap into homeowner equity as collateral.

Home Equity Loans

Many home equity plans set a fixed period during which the person can borrow money, such as 10 years. At the end of this “draw period,” the person may be allowed to renew the credit line. If the plan does not allow renewals, the homeowner will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period, for example, of 10 years.

A home equity loan, sometimes called a second mortgage, usually has a fixed rate and a set time to pay it back, generally with equal monthly payments.

Home Equity Line of Credit

         

A home equity line of credit is similar to a credit card. The lender sets a maximum amount you can borrow, and you can draw money as you need it, though many home equity lines of credit require an initial draw. The interest rate varies daily, and is usually prime plus a set number, but the required payment is usually interest only. Once the loan has been paid down, the payment is reduced, and it can be paid off and initiated as many times as a homeowner requires.

How Much Equity can be Accessed?

Since the financial institution is lending money and using a home as collateral, they will not lend 100 percent of the home’s equity. The bank does not want to take the risk that if the house price drops, they would be carrying a loan for more than its market value. Therefore, most banks will allow a qualified homeowner to borrow approximately 80 percent of their equity.

It’s Important to Use Your Home Equity Wisely

Because it is likely the biggest asset most people have, losing your home equity is hard to overcome. It must be used in prudent ways, and the payments against the loan must be affordable. Using equity money to make the loan payment is only acceptable for a short-term solution.

There are a number of good reasons to use money from a home equity loan… and some really bad ones. First, let’s cover smart uses.

1. Invest in Your Home

The best way to use the money is create more equity in the home. Among the very best returns on your investment (ROI) include kitchen and bathroom remodels, adding square footage or an extra bath, finishing part or all of a basement, enhancing curb appeal and repairing/keeping the existing structure sound. Making prudent investments in your home is a wonderful win-win: you enjoy the upgrades and the repairs can add value to the home.

2. Invest in your Children’s Education

Using your home equity to finance a child’s higher education is another option. Not only is the rate much lower than a student loan, it is an investment in the child’s future.

3. Supplement Retirement Needs

Older homeowners spent their working lives paying down their mortgage. At retirement, when monthly income is reduced, a home equity loan could pay for a dream vacation or an unexpected major expense.

4. Augment the Impending Sale of a Home

If you’re planning to sell soon, a home equity line of credit may be the best way to finance improvements, and you can pay it off entirely when you sell. Investing wisely on upgrades and repairs may even reap a profit on your investment.

Here are some examples of some not very wise choices.

Adding luxury amenities like a swimming pool, a hot tub, lavish landscaping, expensive appliances, and/or flooring rarely pay off.

Purchasing a car or boat or most any personal luxury items is a poor use of the funds, since these items quickly depreciate in value.

Also stay away from using money on risk-heavy investments. Financing stock purchases, start-up businesses and paying routine bills is not financially smart. If you cannot afford to purchase those items with available funds, using equity from your home means they should not be in your budget.

You should treat a home equity loan as an investment and not as extra cash when making financial decisions. If your intended use of the money doesn't pay you back in some way, it's not the best use of your valuable equity.

I Am Happy to Assist You
If you would like an assessment of the market value of your home and the current equity you can access, give me a call for a comparative market analysis.