First impressions are lasting!

by Dian Hymer

Imagine walking into an important job interview looking like you just dragged yourself out of bed. You'd be unlikely to make a good impression and diminish your chance of securing the job. 

The same goes for selling a home. First impressions are lasting. Some buyers won't even look at the inside of a listing that doesn't have good curb appeal.

Today's buyers are picky. There is no sense of urgency in the market, so buyers are holding out for the best home they can find that will work for them for years to come. In some areas, there are a lot of homes for sale. It's important to make sure that buyers will be attracted to your home before they even walk through the front door.

Fortunately, exterior improvements needn't be expensive. The recent Remodeling Cost vs. Value Report 2010-2011 found that the improvements that yielded the highest return on the investment when sold were a new steel front door and a new garage door. 

The average cost nationally for a new front door was $1,218; the return was 102 percent. The average cost for a new garage door was $1,191; the return was 83.9 percent. The top nine of 10 most cost-effective improvements nationally were for exterior projects. Curb appeal is as important as ever, and may be more so in this market.

The Remodeling Cost vs. Value Report is a collaborative report done annually by Remodeling Magazine and the NATIONAL ASSOCIATION OF REALTORS®. It compares construction costs with resale values, which are based on estimates from more than 3,000 REALTORS® and appraisers. 

Sprucing up the front yard for sale needn't be costly. Clean out weeds and dead plants. Add flowering plants for color and mulch to tidy up areas that aren't heavily planted. Replace a lawn that has seen better days with less lawn and a border bed of flowering shrubs. 

Do in-ground planting well in advance, if possible, so that plants have a chance to get established before your home goes on the market. If you have no choice and must plant at last minute, be sure to remove the ID tags from the nursery.

A deteriorated fence should be removed, repaired or replaced. Any peeling paint on the front walk and steps and house exterior and trim should be refreshed. The side of the house that gets the most exposure needs the most maintenance. If you've let it go, you'll be docked dollars by the buyers unless you repaint where needed before you sell.

HOUSE HUNTING TIP: The amount returned on home improvement investments varies from one location to the next. It's important to consult with your local real estate agent before you embark on an upgrade to make sure that you don't overpay on an improvement that won't generate the desired result.
Most homeowners assume they'll get their money back and more when they sell. In fact, most upgrade investments often don't return 100 percent of the amount invested, particularly in a down market.

A minor mid-range kitchen remodel returns 72.8 percent nationally, according to the 2010-11 Remodeling Cost vs. Value Index. In the Pacific region of the U.S., you're likely to recoup 84.1 percent.

However, a major upscale kitchen remodel pays back only 59.7 percent nationally and 66 percent in the Pacific region. It makes sense to take on a major remodel project only if you're staying in your home and can enjoy the use of the improvements before selling.

A deck addition ranked high on the list of popular exterior improvements. Although, nationally the cost recouped is only 72.8 percent, it may be an essential enhancement if your home has no outdoor living space and all the homes for sale in your neighborhood do.

THE CLOSING: Supply and demand in your local area will also impact how much you'll recoup from your fix-up investments. 


Give Comet Realty a shout today to find out how to improve the value of YOUR home! 805.546.9925

Hayley's FENG SHUI TIP: Clearing Clutter

It is not about having what we want, but wanting what we have.

~ Dalai Lama

It’s everywhere! Paper stacks, old clothes that don’t fit or need mending, broken furniture or appliances, collectibles, inherited items, gifts we didn’t like then, and still don’t like now. 

It accumulates little by little until it becomes overwhelming. Clutter affects your energy levels and general well being. It can weigh you down both physically and emotionally. 

One of the most important aspects of clutter clearing is loving what you have and letting go of all the other stuff. 

Everything you have that you do not LOVE or NEED, is officially clutter.

This is always easier said than done. I was hanging on to a pair of raggedy wool socks that were my Mom’s. I’m pretty sure she is okay that I finally got rid of them. She is still with me, and not just when I look at those old socks! 

Once the weight of the clutter is lifted, it will be easier for you to sort through your possessions. You will be able to tell which possessions you really love, in contrast to the ones that clutter your space and mind. 

Our mental, bodily and emotional states are all affected by our home. If we live in a cluttered environment, we will manifest the same in our mind and body and you will feel stuck in your life. Energy levels, decision-making, and even health could be affected. 

Letting go of that clutter must occur before more treasures can come into your life. You can clear your old life patterns and start fresh. 

What better time to do it than right now. Take a few minutes to go through that stack of papers on your desk. Chances are, you will get to throw half of it away, and then you can ask yourself if you really need what is left? 

I don’t mean get rid of things you truly care about. I’m talking about magazines that maybe had one good article in it - it would be easier to remove the article and save it in a folder (labeled correctly!), then recycle the magazine by taking it to the gym, library or a doctor’s office. Catalogs - if you haven’t already ordered whatever was in it that you meant to order, chances are that you won’t. And can’t you find it on-line if you really need it later? 

Let’s face it. Are we REALLY going to fit into that “other size” of clothes? Don’t they just make you feel bad that you don’t fit into them now? Off to Goodwill they go. If you find yourself needing another size next week, or next month, or next year, make it a plan to treat yourself to new clothes at that time! 

Spend 5-15 minutes per day on clutter. Go through your desk drawer. Clear out the pantry (if the tupperware doesn’t have a lid, off to Goodwill!) If you have one room that simply has too much in it to do anything with it, make it a goal to gather all the [insert item here] into one pile. Tomorrow, do another pile consisting of [insert item here].  

I am the first to admit that I am a packrat and love “my stuff”. 

My goal is to be in harmony with my home, my life, my friends and family, and not see clutter everywhere I look. 

So, clear your clutter with me. A little bit at a time. 

If you have any questions, please send them to Hayley@CometRealty.com.

Confidence in Value of Homeownership Persists...

Confidence in Value of Homeownership Persists through bust, survey shows. 

By Alejandro Lazo, Los Angeles Times, April 12, 2011

The real estate bust appears to have done little to alter Americans' confidence in the investment value of homeownership. 

A robust 81% of adults said buying a home is the best long-term investment a person can make, according to a national survey by the Pew Research Center in Washington.

"Owning a home is really a part of the American dream, and that is just part of the American psyche and something that people aspire to," said Kim Parker, associate director for the center and one of the study's authors. 

The study's results were unexpected, given the deep plunge in home prices and the fallout from the mortgage crisis, she said. Homeownership topped the list of long-term financial goals for Americans, according to the study; respondents rated homeownership, as well as living comfortably in retirement, more important than sending children to college or leaving offspring an inheritance. 

The public's faith in real estate has been bruised since the last time a comparable survey asked people about the wisdom of investing in real estate. A total of 37% of respondents said they "strongly agree" that homeownership is the best investment a person can make while 44% said they "somewhat agree." The same question was asked by a CBS News/New York Times survey in 1991, and at that time 49% "strongly agreed" and 35% "somewhat agreed." 

"The study results are surprising in that so many households still believe that homeownership is a good investment, even after the plunge in home values that has occurred over the past couple of years," said Celia Chen, a housing economist for Moody’s Economy.com. "The preference for homeownership has deep roots in the history of this nation, and apparently even a severe correction in house prices can shake American's belief in homeownership only slightly."

The telephone survey was comprised of a nationally representative sample of 2,142

adults conducted from March 15 to March 29 by Princeton Survey Research Associates International. Interviews were done in English and Spanish. The margin of sampling error for the data is plus or minus 2.7%. 

While home prices have entered a renewed decline after showing some improvements last year, many economists believe that the worst of the housing crisis is probably over. That sentiment could help to explain the resiliency in Americans' optimism. 

"People may have the feeling that the worst is behind us," Parker said. Though other investments such as stocks tend to produce a better return, the housing market has generally avoided the wild swings that the stock market has over time, potentially helping to explain real estate's lasting allure, Parker added. 

Homeowners in the survey were more positive about the financial wisdom of owning a home than were renters. But even among renters, the desire for homeownership remains strong, according to the survey's findings. Just 24% of renters surveyed said they rent out of choice and 81% said they would like to buy.

The decline in values has struck a wide swath of Americans. About half, or 47%, of

homeowners said their property is now worth less than when the recession began,

and 31% said the value of their home has not improved. Just 17% said their home is worth more than before the recession. 

Of those who said their properties have lost value, 86% said they expect it to take at least three years for values to recover, 42% said at least six years and 10% said they expect a recovery in 10 years or more.

Despite those sentiments, 82% of homeowners who indicated their home is worth less than before the recession said homeownership is the best long-term investment a person can make.

APRIL 18th is TAX DAY

GREAT NEWS FOR PROCRASTINATORS!

Taxpayers are receiving an extra 3 days to file their taxes this year, thanks to Washington D.C.'s early celebration of Emancipation Day.

The deadline to file individual tax returns (Form 1040, 1040A, or 1040EZ) or request an Automatic Extension (Form 4868) is Monday, April 18, 2011.

www.IRS.gov for more information