Escrowing for Repairs after Closing

Let’s call this real estate horror film Mission Impossible – Saving the Sale. It’s the sequel to Mission Impossible – The Roof Needs Repair starring Surprised Seller and Upset Buyer. Also featuring Scrambling Realtor and Cautious Escrow Officer.

The scene opens with a pending sale on a property that needs a repair that the seller has agreed to do. However, the repairs cannot be completed before the closing. It could be hail damage to a roof that happens a couple of days before closing. Or wood floors that become damaged when a water pipe breaks just before closing day.

Whatever the scenario, there isn’t enough time to make the repair before closing day. In that case, the parties to the transaction may want to use an escrow agreement to close on time and allow the repairs to occur after closing.

Escrowing for repairs can be a somewhat complicated situation and the procedure often varies from title company to title company and lender to lender. Here’s how it usually works:

First, find out if the title company and buyer’s mortgage company will allow it. Some companies have a strict policy against escrowing for repairs to be performed after closing. The rules and restrictions regarding repair escrows vary by lender and title company. I’ve dealt with escrow repairs only a couple of times and those involved cash purchases with no lender involved. If the lender or title company won’t allow it, then closing may need to be delayed.

If a repair escrow is allowed, an amendment to the contract and a very specific and detailed escrow agreement is signed by all parties prior to closing. The title company may want to prepare this agreement. It should state exactly what item is to be repaired, the cost of the repair or agreed allowance for the repair, the company doing the repair, etc. Nothing should be vague or unclear.

This agreement should set forth all terms as to when, how, and who will make repairs. And how and who payment will be made when repairs are complete. The buyer will have a specific amount of time (typically 30 days) to have repairs completed.

The title company will require invoices for the repairs and a release be signed before money is disbursed. And they usually will pay the contractor directly upon receipt of the invoice and release.

The escrow agreement will also set forth terms as to whom any remaining money will be paid. And it must address what happens if the amount escrowed for repairs is not enough to cover the invoice in full. Everyone will want to be certain that enough funds are escrowed to pay the repair in full since a lien could be filed by the contractor if it isn’t paid.

Keep in mind that this will be the buyer’s property when the repairs are done after closing. Therefore, the buyer may want to choose the company doing the repairs. Otherwise, the buyer may have to go back to the seller if the repairs are incomplete or inadequate. 

The cast of characters in this show include not only the buyer and seller, but the repair company, title company, and the lender. It takes good choreography to make it work. 

The opinions expressed are of the individual author for informational purposes only and not for the purpose of providing legal advice. [where: 75230]

Staging a Home to Sell in 2015

Staging a home to sell is still important in this hot Dallas real estate market. But only if you want to sell their house faster and for more money. If you don't care about maximizing your revenue on the property, just stick it on the market as is.

You need to have your home staged to sell - not to live in. Buyers really do want it to look like a magazine spread. They need to see lots of spare space for their things. They care about the home's appeal, not about your comfort.
Treat your home like it's dressed up for a big date. If this just isn't the way you like to live, too bad. Do it anyway.

Here are my 4 favorite staging tips:

1. De-Clutter - Everywhere: inside and out. Pack it up. Clean off the fridge, the piano, the nightstands. Leave enough blank space for buyers to visualize their own belongings. If there aren't enough flat surfaces with nothing on them, then de-clutter some more. Too much stuff is a turn off. 
2. Deep Clean -  Kitchen and bathrooms should be spotless. Dirt in these areas are deal-killers. You have to go beyond 'normal cleaning'. Clean cabinets, grout & fixtures. Ensure carpets & rugs are completely clean. Dirty carpet is the number one buyer turn-off. Clean the windows so that they sparkle and let in the maximum amount of light. 
3. De-Personalize - Trust me here. Buyers don't want to buy your family or vacation memories. Clear them out to let buyers imagine the house as their own. 
4. Neutralize colors. A fresh coat of paint is an excellent way to freshen up your home. Since your taste may not be the same as the buyers, keep it neutral.

I offer 2 hours of professional staging with every home that I list for sale.

It benefits both me and the seller to present these properties in a way that will help them sell faster and for more money.
[where: 75230]

Favorite Easy Home Improvement Idea for 2015

Don't you love finding an easy and economical way to add appeal and function to your home?

One of my favorite new products this year is the SnapPower Guidelight. These outlet covers simply replace your existing ones and work as nightlights. Perfect for hallways, bathrooms and kitchens- it installs with a screwdriver (no wiring or batteries required). Anyone can do it.

It looks just like a standard electrical outlet but has a LED lighting that turns on in the dark and off in the light.
And it cost less than 10 ¢ per year to run.

They're offered online at their site: www.SnapPower.com. A 3 pack costs $45 and a 5 pack is $75. Check them out at www.SnapPower.com 
[where: 75230]

Oh Hail! Beware Dallas Roofing Scams

It's spring storm season in Dallas and hail damaging your roof is always a possibility. But beware of scammers posing as legitimate roofers. After the storm passes, these gypsy roofers flock to our neighborhoods offering their services. You'll find loads of fliers and "contractors" knocking at your door to solicit business.

Here are few tips to avoid getting ripped off:

1. If they come to you - knocking on your door - don't use them. Trustworthy roofers are busy after a storm. They don’t have time to solicit business door to door. They’re too busy with work that was referred by satisfied customers. Often these so called "gypsy roofers" will show up at your door posing as a legitimate roofing company. They'll offer an estimate and ask you for a deposit. You'll never see them or your money again.

2. Get a local address and references. Hire an established roofer with roots in the community and a stake in maintaining a good reputation. If they aren't local, don't use them. 

3. Never, ever, ever pay a deposit immediately. Gypsy roofers want deposits up front and contracts signed now. I know it seems logical that a roofer needs a deposit to buy the materials to get started. But an honest roofer isn’t afraid to leave and give you time to think and make an educated choice. An established roofer doesn’t mind starting a job using company money and has funds to buy materials without your help. A roofer confident in his skill wants you to compare his quote and work to others. 

4. Don't let just anyone inspect your roof. Avoid unsolicited estimates and give the insurance adjuster a chance to be the first one to examine your roof for damage. Take photos before anyone examines it. A common scam by storm-chasing roofers is to deliberately cause more damage. When a disreputable contractors gets on the roof before the insurance adjuster, they may use a small objects to cause all kinds of damage. When the adjuster looks at it, the estimate of damage is inflated, allowing the roofer to earn more from the job than he might have otherwise.

5. Don't let a door to door solicitor inside your house. But also be aware that they could be working in teams with one keeping  you busy outside talking about your roof while the other sneaks in and robs you. 

Texas has one of the highest rates of fraud in the roofing repair industry. It is mostly due to a lack of state regulation over roofing contractors. They are not required to be licensed like plumbers and electricians and this allows gypsy, drive-by and storm-chaser roofers. They know full well that insurance adjusters are following close behind after a big storm.

Watch out for them and help warn our elderly neighbors since they tend to be easy targets for these scammers.
[where: 75230]

Check your Dallas Home Insurance Policy

Did you know that the longer you stay with the same insurance company, the more likely it is that you are being overcharged?

I was surprised to learn that most homeowners today can save money on their insurance by switching policies. And if you've been with the same company more than 10 years, the percentage you save may likely be in the double digits!

That's because insurance companies offer an initial low rate when you first enroll with them and then raise your rates as time goes by. Insurance companies know that they have a very high retention rate. About 60% of existing policy holders just don't shop around for a better rate.

Our state's Office of Public Insurance Counsel (OPIC) conducted a recent study that revealed that shopping your existing insurance policy can saving you money. OPIC is an unbiased, consumer focused agency that offers great advice to homeowners regarding their insurance options. Visit their web site at www.opic.texas.gov for information about insurance companies.

I'm calling an insurance broker this week to get price quotes. Insurance broker ( Clay Hart ) has a routine of shopping policies for his clients on a regular basis. That's the kind of service we all want.
[where: 75230]

4 Quickest steps to get your house ready to sell

If you're thinking of selling your home or just remodeling, keep in mind how these 4 tips to help it sell.

While there are many things you can do to add value and make your house more attractive, these are the quickest, easiest and least expensive ways to make your property appeal to the majority of the population.

1. Neutral colors are your friend. Grey is great. Beige is beautiful. Increase your home's appeal and make it more inviting by keeping the walls and large furnishings neutral. If you want color, use pillow, artwork, etc.  
2. Scrap the stuff. De-clutter til it hurts. Make room in your home - and in your life - for new people and things. If you need to store it somewhere, then do it. Or fill your garage to the ceiling (the garage is a lot less important than your living spaces). 
3. Clean til it sparkles. Hire the pros. Clean the windows, the baseboards, ... No one wants to buy a dirty, grimy place (and you've gotten used to your own dirt and grime so that you may not notice it). 
4. Stage it to sell. There really is an art to appealing to home buyers and a psychology of home buyers. Little touches go a long way to  help buyers envision themselves in your house and a great stager knows how to make it work. 

[where: 75230]

Rules for Water Heaters are changing soon

Think your water heater may need replacement soon?
You might want to consider the new rules regarding these necessary appliances and make note of this information.

These Department of Energy's new requirements are effective April, 2015 for anyone installing a new water heater. Important items to note about these changes:

• New water heaters that will meet the new requirements are currently in production and we may see shortages or delays this spring. Cold shower anyone?
• These water heaters are taller and wider. Take into consideration the location of your current unit. If the new one doesn't fit or the space is too tight, it may need to be moved to a new location. Folks in condos, townhomes, small spaces, etc. may have some issues.
• It will likely take 2 technicians to install these new water heaters. Plan on higher installation costs.
• If you have a home warranty, it may cover water heater repairs and/or replacement but typically they don't cover code issues, relocating, refitting plumbing, etc.
• There are currently no exceptions or waivers for these new federal regulations.

These new rules will ensure water heaters are more energy efficient - which will cut energy use and save on utility costs. However, it will cost you more upfront to replace your current unit. 

[where: 75230]

5 Overlooked Basics for Selling Your Dallas Home

Mr. or Ms. Buyer are shopping for a home and guess what happens before they make an offer?

They walk into a house and they get that sensation - they just know it's the right home. They make an emotional connection. Creating that feeling sometimes needs a helping hand. As a seller, you need to appeal to all five of the buyer's senses.

1. Look good - appeal to their sense of Sight. Photos and the curb appeal are the most important aspect of appealing to a buyer's senses.

2. Smell will evoke an unconscious emotional response. Even the slightest hint of pets, harsh chemicals or mustiness can conjure up impressions of dirtiness, mold or mildew. Ensure every room of your home smells fresh and clean. Click Here for my tips on making your home smell like a sale! Make it smell beautiful.

3. Sound attractive. Play soft music throughout the house either via a cd or televisions. Smooth jazz is usually ideal with a nice walking pace. Stay away from anything too lively or loud and avoid music that's too slow or sedate (like classical music).

4. Reach out and Touch them. Appeal to the buyers' tactile senses with smooth, clean surfaces. Add plush towels in the bathroom and cushy pillows on the bed.

5. Taste is a hard sense to appeal to when selling a home - but not impossible. Leave a plate of cookies on the kitchen counter with a welcome note. Provide bottled water. Or even a bowl of candies next to the marketing materials will help. It may put a smile on their face and help entice a buyer to make that emotional connection with your property. [where: 75230]

3 improvements Not To Do when selling your house

A customized, modernized home may sound wonderful when it's modified to your own needs and taste. But when it comes to selling your house and attracting a buyer, some “improvements” can actually lower the value of your property.
No seller wants to put money into a property if that investment won’t result in a return, or even worse, might discourage potential buyers.

Three typical investments that can actually decrease your home's value:

1. Too much personality When it comes to selling a property, unique usually is not good. A home that’s for sale needs to have a broad appeal and be similar to others in the area. Skip the extravagant tiles, custom carpeting and bold wall colors, which can make your home more difficult to sell. Just keep the design neutral.
2. Getting rid of a room or garage Don't even think about converting a garage space unless you’re also adding on a new garage. Take my word for it — almost every home buyer wants a garage more than they want whatever you are creating in its place. And typically, the more rooms a home has, the higher the value. Unless your house has many more rooms than most of those in your neighborhood, don't tear down walls to combine them. 
3. Changing the function of a space Specialty rooms are great for lots of folks, but not for everyone. Think twice before converting a generic room or bedroom in to a gym, sewing room, studio or library. The typical buyer for your neighborhood may not want it. And most folks can't envision a room dramatically different from what they see in front of them. If you're going to use the room differently than its intended function, stay away from built-ins and elaborate changes. Even putting in a swimming pool at the expense of a grass yard can be a negative. Broad-based buyer appeal and consumer demand should be your guide.

If you're not selling your house, then current value isn't important. Customize any way you want. However, if you're considering selling your property, you’ll want to be sure you don't make these mistakes. Your individualized wants, needs and taste may not appeal to everyone. They can not only reduce your sales price but increase the time it takes to sell your home.

6 Home Staging Tips for selling in Autumn

When selling your home, it helps to set the stage for buyers based on the season. In the summer, a couple of floats in the pool set a fun tone.
But here we are in September, and I've got a few tips for selling in the fall.

• Continue to water your landscape. It still needs it and we want to keep some color for as long as possible.
• Trim trees and bushes, rake falling leaves and keep the yard tidy.
• Put logs in the fireplace and set a cozy scene with a throw and a book on a chair.
• If it's cool enough, light a fire in the fireplace. Just don't make it too toasty inside.
• Add a few colorful Halloween or Thanksgiving touches - just a few.
• Most folks love the smell of pumpkin. It's a great scent to lightly use this time of year.

[where: 75230]

3 Homeowner mistakes that Decrease Value

A customized, modernized home may sound wonderful when it's modified to your own needs and taste. But when it comes to selling your house and attracting a buyer, some 'improvements' can actually lower the value of your property.

No seller wants put money into a property that they won't see a return on. Or even worse, that will discourage potential buyers.

Three typical investments that can actual decrease your home's value are:

1. Too much personalization. When it comes to selling a property, unique is usually not good. You want your house to have a broad appeal and be similar to others in the area. Skip the extravagant tiles, custom carpeting and bold wall colors. Just keep the design neutral. Too taste specific is not only harder to sell, but typically takes longer.
2. Getting rid of a room or garage. Don't even think about converting a garage space without adding on a new garage. Take my word for it- almost every home buyer wants a garage more than they want whatever you are creating in its place. And typically, the more rooms a home has, the higher the value. Unless your house has a lot more rooms than most of those in your neighborhood, don't tear down walls to combine them.
3. Changing the function of a space. Specialty rooms are great for lots of folks, but not for everyone. Think twice before converting a generic room or bedroom in to a gym, sewing room, studio, library, ... The typical buyer for your neighborhood may not want it. And most folks can't envision a room dramatically different than what they see in front of them. If you're going to use the room differently than its intended function, stay away from built-ins and elaborate changes. Even putting in a swimming pool at the expense of a grass yard can be a negative. Broad based buyer appeal and consumer demand should be your guide.  

If you're not selling your house, then current value isn't important. Customize any way you want. However, if you're considering selling your property, then please don't make these mistakes. Your individualized wants, needs and taste may not appeal to everyone. They can not only reduce your sales price but increase the time it takes to sell your home.
[where: 75230]

Lydia's North Dallas bathroom remodel

The face lift for the main bathroom of my small townhome is finally finished. And it's a beauty. What was once a cramped and aging little space is now fresh and sparkling. The biggest change came by taking a 5 x 3 foot bedroom closet that was located behind the tub. Since the townhome already has plenty of closet space, I needed the square footage more in the bathroom. So the closet and existing tub spaces became a wet area combining both tub and shower. And it feels so, so spacious.

This bathroom doesn't have a window and I wanted it to feel larger and brighter. So I took out the fur down and tiled all the way to the ceiling in the wet shower/tub area. The new cabinet over the toilet goes all the way to the ceiling as does the mirror over the vanity. The glass shower door and sparkling fixtures give it the light and reflection it needed.

Every inch is important in a small space, so I inset shelving between the studs in a wall. I need to declutter, but for now, this is valuable storage space.

Tiles are a combination of white subway tiles and gray penny tiles. The round tile design is repeated in the shower insets. Round glass knobs and round light fixtures keep the look cohesive and add a little more shimmer. The only real pattern is the tile on the floor. By keeping the entire room neutral, I can add color with towels and other accents. If I get bored of the look, it's easy to change the accent pieces.

The big floor to ceiling mirror wasn't part of the original plan. But on the other side of that wall is the same kind of shower inset in my other bathroom. I was afraid of someone ever putting a nail in that wall and poking it through the tile on the other side. So a mirror seemed like the perfect way to prevent that. Plus, it makes the room feel larger and I could use a full length mirror. 

bathroom before

Did I mention that this was done on a budget? The existing tub, toilet and faucet remained but everything else is new. Cabinets, tile, hardware, counters, etc. came from wholesale, internet, oversupply and builder discount stores.

Total spent was between $5,000 - $7,500. As a Realtor, I get to see a lot of really nice bathrooms. Hopefully, this redo made mine look like one of them.
[where: 75230]

Free Sprinkler System check for Dallas residents

If you have water supply from the city of Dallas, you're in luck!
The city is offering a free service ( yes, your taxes pay for it) to check your sprinkler system and identify problems. Make an appointment with these "irrigation auditors" and they will come out to your home and give your sprinkler system a complete check-up.

It's simple and only takes about 15-30 minutes. You could have leaks, clogged sprinkler heads, programming errors, or other issues you don't know about. These Irrigation Specialists will let you know if repairs are needed, give you information on how to improve the efficiency of your system, go over the report, offer water saving tips, give you a little goodie bag and then email you a formal report that you can hand over to a repair service to do the work. They offer suggestions without obligation on your part.

The goal of this program is to help save water. Way to go City of Dallas!
Visit this web site for details: https://savedallaswater.com/rebates-and-incentives/irrigation-check-ups/
[where: 75230]

4 Most Important Home Maintenance Items

Some of the most important home maintenance items can be done by the average Dallas homeowner. They cost very little compared to your investment in your house. These should take you just a quick trip to the hardware store and very little time to complete these. Do them now and save yourself a lot of money later.

1. Change your air filters monthly and have your heat and ac system serviced every year. The technicians that I talk with say that you're better off buying cheap filters and changing them monthly than buying expensive ones and changing them only occasionally. This will save the strain on your system, save on your energy bill and you'll have the peace of mind knowing that you're breathing cleaner air.
2. Switch your washing machine hoses to the strong metal kind. The most common homeowner insurance claims in Texas are for broken or leaking washing machine hoses. And most homes have the cheaper rubber hoses. Those rubber hoses are under constant water pressure and are sure to break sooner or later. The hassle of dealing with the damage caused when they break is huge, so prevent it now. The good ones cost about $20.
3. Cleaning your gutters and downspouts once or twice a year. You can't believe how messy these get. I've seen the damage that clogged, damaged or improper gutters and downspouts can cause. Water ends up being diverted where it shouldn't and problems can occur with the roof, eaves, siding and foundation.
4. Caulk. Caulk in the bathrooms, kitchen, around windows, ... Everywhere that you want to prevent water penetration, drafts or cracks. Use the clear kind and keep it neat. [where: 75230]

Make your Dallas home future ready

So many exciting technologies are available for homes today that were unobtainable just a few years ago. If you're planning a home remodel or renovation, you may want to keep in mind a few things that tomorrow's buyers will be expecting to be available in their homes. We're talking about more than just planning for a huge, flat screen TV. Some of these new features are not very expensive, but offer a lot of perceived value to Dallas homebuyers.

Home automation is hitting the main stream and I'm seeing more homes with those extra bells and whistles. Before long they'll be common place. Like granite counters, stainless appliances and walk-in showers ... it's something the buyers in North Dallas will soon come to expect in a home.

Home entertainment systems are in high demand. Dallas buyers like their TVs big and their speakers sophisticated. Whole house sounds systems should be able to access the play lists from a mobile device. Entertainment systems don't need to be tucked away in a media room, but encompass many areas of the house and outdoors.

In the next couple of years, we'll see more and more demand for automated and remotely controlled lighting, home security, heating and ac systems. Folks will be able to use their smart phone or laptop from anywhere in the world to do everything from changing the thermostat to unlocking a door or opening the garage for someone.

And with so many wireless components hitting the market it may seem like pre-wiring a house is a waste of time. Conversely, it's more important than ever. Many ultra-high definition systems (like speakers and video equipment) work better hard wired. And even wireless devices require electricity and chargers. Most folks don't want to look at a web of cords and wires running across the mantle or around doorways.

While we don't know what the next home innovations and technologies will bring, they will likely need wires. Running conduit tubes behind the walls and including covered plates for future access is a great idea.

When you're updating a home, think about current and future technology. Build-in and future-ready infrastructure is very appealing to today's homebuyers.
[where: 75230]

3 last chance home tax deductions for 2013

Three home tax deductions are going away after 2013, so plan to take advantage of them now.

If you’re eligible, tax year 2013 is probably the last time to claim the private mortgage insurance (PMI) deduction, the energy tax credit, and debt forgiveness benefit, all of which all expire on Dec. 31, 2013.

Here's what you need to know about those expiring benefits as you ready your taxes:

PMI Deduction

This tax rule lets you deduct the cost of private mortgage insurance, which is what you pay your lender each month if you put down less than 20% on a home. PMI protects the lender if you default on the home loan. Your deduction could amount to a couple hundred dollars depending on your tax bracket and other factors. Find out if you qualify for and how to take the PMI deduction. Of course, if you're wise enough not to be paying PMI, you aren't deducting it anyway.

Energy-Efficiency Upgrades

This sweet little tax credit lets you offset what you owe the IRS dollar-for-dollar for up to 10% of the amount you spent on certain home energy-efficiency upgrades, from insulation to water heaters. On the downside, the credit is capped at $500 (less in some cases). But on the bright side, the right improvement could lower your utility bills indefinitely.

Debt Forgiveness

When you go through a short sale, foreclosure, or deed-in-lieu, your lender sometimes lets you off the hook for some or all of what you owe on your mortgage. That forgiven mortgage debt is considered income, on which you’d typically have to pay income tax.

Suppose you’re in financial distress and your lender agrees to let you short-sell your home, say for $50,000 less than you owe on the mortgage, and forgive you for the balance. Without the protection of the Mortgage Debt Forgiveness Act, you’ll owe income tax on that $50,000.

It’s likely if you had the money to pay income tax on $50,000, you’d have used it to pay your mortgage in the first place.

Although these expiring tax benefits were renewed retroactively in past years, that is not likely to happen in 2014 because many in Congress would like to see comprehensive tax reform rather than scattershot renewals of individual provisions. [where: 75230]

Six biggest home buyer turn offs in Dallas

Want to sell your home?
So do I. Let's make it easier and avoid these 6 biggest turn offs to buyers in our Dallas market.

I pulled tips from "The Complete Idiot's Guide to Staging Your Home to Sell" and tweaked them to reflect what I hear from Dallas buyers.

The quickest ways to run off potential buyers are:

1. Poor curb appeal. If you don't have curb appeal, buyers often will stop before they even get to the door. Or they start making assumptions that they aren't going to like the house before they enter it. It does you no good to remodel the bath or paint the bedroom if we can't get them in the door. The exterior needs to be well manicured, fresh and inviting.
2. Sellers present for showings. Meet the buyers after they fall in love with your house. Take it from someone who has shown thousands of homes, the buyers don't want you there when they view the property. I see them stiffen when the seller is home. They feel like intruders in someone else's home. We want them to feel like this is their future home, not your current home.
3. Dirtiness. Your home should look like Mr. Clean lives there. A pristine spotless home tells the buyers it is well cared for. You may be so accustomed to the normal smudges that you don't notice. But a little dust and dirt says lots of grime to buyers.
4. Odors of all kinds. The smell of a house says a lot about it. Cooking smells, pets and strong floral air fresheners are all big turn offs. Ask your agent to be brutally honest about what your house smells like.
5. Clutter. Reduce the amount of 'stuff' in your house by a third. No matter how neat you think it is, take away 1/3 of your stuff and pack it away in the garage. It will make your space feel more open and allow space for buyers to imagine their stuff there.
6. Shiny or antique brass fixtures. They aren't making a come back. It isn't expensive to replace dated door knobs and faucets compared to the overall value of your home. Depending on the property, replace them with black or silver colored fixtures.

How to Make Your Home Worth More

When you want to increase the value of your property, there are several things you can do that will really pay off.

The first is maintenance. Buyers expect a home to be maintained and they won't pay more for repairs and maintenance items. So before you embark on any home improvements, make sure you fix items that aren't fully functioning as intended. Anything electrical, plumbing, roof, foundation, pool, heat and ac, ... needs to be working as it should. Don't think buyers won't notice if they aren't - they will. And if they don't, their savvy agent will point it out to them.

Then when you're ready to increase the value of your property, follow these 10 tips from this builder, Elite Craft Homes. They are fantastic pieces of advice and are very applicable to Dallas homes.

Here are their top 10 tips that will increase the price of your home:

1. Landscape: " Landscaping gives you the highest return on your money and can totally transform the exterior look and feel of your home. Make your front yard a colorful and well-groomed space."
2. Spiff up your Front Door: "Sand it and stain it or simply repaint it. Either way, you’ll get true results by making your front door the focal point of your home’s curb appeal. Don’t forget about the door’s hardware, the surrounding lighting, and potted plants on either side"
3. Make an impressive Pathway: "The pathway to your front door is the first chance you have to impress guests. It needs to stand out. Brick pavers, or other high-end materials, will impress potential buyers. Planting flowers along the pathway and adding exterior lighting only accentuates the charm"
4. Fix up your Foyer: "Your foyer is the first thing that people see when they walk into your home, so it needs to be welcoming. It should be free from clutter and guests shouldn’t feel confined when moving around so clear out bulky furniture. Be sure the lighting is good and that the line of view is unrestricted to other parts of the house."
5. Update your Lighting: "The right lighting is the crowning jewel of any room. It makes smaller homes feel larger and darker homes feel more cheerful and bright. Update your lighting and you’ll see instant results that will be sure to improve the feel of any room."
6. Choose your Paint wisely: "If you’re trying to sell your home, this is always a tricky thing. While you don’t want to use bold, vibrant colors that may not appeal to everyone, you also don’t want to be too bland with white or beige. Carefully choose rich colors that have a wide appeal and don’t forget to accentuate windows, trim, molding and baseboards."
7. Avoid major Overhauls: "This applies to potential sellers and their kitchens and bathrooms. If you’re going to sell, avoid remodeling these rooms and focus on smaller, less expensive ways of sprucing up these spaces.  Update lighting, replace knobs or pulls on cabinets and drawers, install new faucets, nozzles and mirrors."
8. Paint your Cabinets: "If moving, it’s risky to dump a ton of money into replacing or refinishing your cabinets. Instead, try putting in some sweat equity and paint them. It’s amazing what a coat of fresh color can do to improve a kitchen or bathroom’s look."
9. Get the right Flooring: "Worn, stained carpet and vinyl flooring will age your home. Replace the old stuff with new carpet or updated materials like tile, stone, laminate, or hardwood."
10. Make your Backyard entertaining: "By creating a backyard space that is perfect for entertaining, you’re helping potential buyers visualize all the good times they could have if the space was theirs. By simply adding some new patio furniture, a fire bowl, potted plants, and exterior lighting, your space becomes inviting and ready for guests."

I would add to this tip:

• Make the master bedroom suite feel like a romantic, luxury hotel. Simplify the accessories, use fluffy white linens and towels, remove personal photos, and give it plenty of relaxing, breathing room. [where: 75230]

How much should you spend on your Dallas home remodel?

Lots of smart investors are buying properties in Dallas now before prices and mortgage rates rise further. And the savvy folks know that in order to make money on your property when you sell, you need to buy it at the right price and put the correct amount into it. I just bought a townhome this week that I'm remodeling.

Having successfully bought, remodeled and sold 7 homes, I can share a few tips with you on what to consider when buying a home in Dallas to remodel. First consider buying the ugliest home on the street. Then when you improve it, it will be in keeping with the neighborhood. The location will determine how much you should put into home improvements.

Think of it this way. You can't take a Honda, spruce it up, and call it a Lexus. It's still a Honda. It might be the most luxurious Honda around and you can sell it for more than the average Honda or a banged up, older version. But it will never be a Lexus.

 

Likewise, the neighborhood you buy in will determine the maximum price you can get for your property. If you buy in a 'honda' neighborhood, don't expect to sell at a 'lexus' price. Only improve the property to the high end of the neighborhood. Let's say you buy in a neighborhood where prices are $300,000 to $500,000 and range between $140 and $170 a square foot. It wouldn't be wise to buy at $165 a square foot, put $40 a square foot into remodeling the property, and expect to sell it at a profit any time soon.

 

A good, experienced Realtor can help you determine and purchase a property at a price that makes sense if you are buying for an investment. [where: 75230]

Now is the time to Mow your Dallas Lawn

Mow in the coming week for a healthier lawn this year.

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