At Home With Valerie

A changing society is certain to affect almost everything surrounding it, including real estate. For example, as more divorces occur, more older singles enter the market for a home. Many of these newly single buyers are downsizing, even though they need to accommodate children on a full-time or part-time basis. It’s one of many realities affecting the typical use (and size) of the so-called family home, as well as its market value. Logically, a general trend of downsizing to affordable accommodation for smaller families will have an impact on demand for smaller homes. This, in turn, will create selling opportunities for owners of townhouses and condos (e.g. two-bedroom, one-bedroom, or even bachelor units with hideaway beds). However, owners of smaller homes wouldn’t necessarily be the only benefactors of this trend. Meeting the needs of divided families will, no doubt, fuel other changes. A significant shift of owners of larger homes to smaller urban units will precipit...

When you make or receive an offer to buy a property, it's important that you read and understand every clause.  It is especially important to understand any conditions or any changes that are made to the standard offer.  An offer may contain several types of conditions.  The most common are "conditional upon arranging financing" and "conditional upon passing a professional home inspection." However, there may be other conditions as well.  You should be aware of – and fully understand – all of them.  In addition, the wording of an offer may change during the back and forth negotiations that often happen. Aside from changes to the price, other clauses may be added, removed or reworded as well.  A good agent will always ask you to initial changes. This is done primarily to ensure you know and approve of what you're signing.  A recent newspaper article tells the story of a buyer-seller legal dispute that resulted in a six-fig...

Summer will soon swing into gear and that means more time outside enjoying friends, family and fun. For many homeowners, the deck provides a great platform for backyard BBQs, pool parties and more. Today’s homeowners, especially first-time buyers, are taking a great deal of pride in their outside living area, and are investing in quality products to ensure longevity and improve design. Many decks are more than just a patio with furniture; they often incorporate recreation areas, hot tubs and pools and have become a place where families are spending more and more of their time. Whether you’re considering selling your home, or simply want to spruce up your outside space, the deck is a great place to make low-cost improvements that add curb appeal and set your property apart from others in your neighborhood. Here are a few tips to get the most bang for your buck: Check out your neighbors’ backyards. The best way to ensure you are able to recoup some money from ...

Buying a home involves many nuances: kitchen size, bedroom count, backyard space, etc … One factor that can trump even the most perfect home is the neighborhood. Finding the right combination of home and neighborhood  hospitality that fits your unique needs can be difficult if you’re  not entirely sure what you want, or if you’re new to town.  It’s  critical to do your research before deciding to buy, and often  your REALTOR® can help you find the neighborhood that’s  right for your lifestyle and that fits your budget.  Here are a few  ways to get started: Jot down a list of your daily activities. For example,  you might write down work, church, coffee, grocery  stores or the dry cleaners. How far would you have to  travel to each destination from your home? Do you mind  the commute? As you begin to look at neighborhoods,  keep the location of these frequent errands in mind. Research the school dis...

Looking for a unique approach to a cash-flow positive investment property? Here are a handful of approaches beyond the traditional landlord/tenant relationship. Now is an excellent time to invest in a property. Whether you’re an all-cash buyer or looking to lock in a favorable rate on a loan, there are perfect properties out there you can leverage into a cash-flow-positive asset. If you’ve ever considered owning a rental property, but haven’t much liked the thought of a traditional tenant/landlord relationship, perhaps some of these alternative ideas will spark your imagination. 1. Vacation rental : There’s no need to take on long-term renters when you use your investment property as a “bed and no breakfast” accommodation for travelers. Services like AirBnB and HomeAway are great places to list your property, or you can arrange for local marketing and management yourself. If you’re considering this type of rental investment, be sure to look for properties close to amen...

Closing day is an exciting time. After all, you’re moving into your new home!  However, it can be stressful as well. The last thing you need is to be confronted with something you don’t understand. So here is a quick list of common “closing day” terms. Disbursements . This is the allocation of funds to the appropriate parties, such as the seller. Your lawyer will take care of this for you. Possession . This is the moment on closing day when you are legally able to take possession of your new home. It’s usually when your REALTOR ® or lawyer hands you the keys. Title . This is a legal document that identifies the property and its owner. Closing costs . These are expenses, excluding the selling cost of the property, that are due on closing day, such as legal fees, reimbursement for pre-paid utilities, utility deposits, insurance, and taxes. Closing adjustments. These are expenses pre-paid by the seller that need to be reimbursed on closing. There may be other te...

Moving can be an unsettling experience for everyone in the family, and for pets the event can be traumatic.  Here are some essential tips for making the move easier on your beloved animal companions. Moving is stressful. Organizing, packing, cleaning, scheduling… the number of tasks can seem overwhelming. One thing that makes the stress worthwhile is the idea that soon you’ll be settling into your new home. But what about your pets? For them, moving is an extremely unsettling experience. While you know the big picture, your furry and feathered friends only see their world falling apart. This can result in stress-related behaviors or even illness. So how do you preserve your pets’ sanity during the change? Here are some tips for moving with pets: 1. Pack gently and slowly. Nothing will stress out your animal more than a sudden uprooting of all they know. If possible, give yourself a long period of time to gradually box up your possessions. Whatever you do, le...

Congratulations on your decision to start a new garden.   Regardless of whether you are a novice or seasoned expert, you can enjoy the benefits of a garden with nothing more than a little knowledge, some seeds and the proper tools.  Step # 1: Pick Your Plants   Before you start a new garden, the first and most obvious step is to choose your plants.  Some things to consider when making your selection include your geographical region, climate, soil condition and the size of your space.  Different climates demand different plants, which means you must choose wisely in order to get the most out of your garden.  Your soil condition is important because most gardeners find it best to have a flat planting surface with a soil that has the nutrients necessary for a healthy garden.  You can always add fertilizer, which can help to make up for any lacking nutrients in your own soil.  The size of your space is important because seeds should...

If you're listing your home for sale, then of course you’ll want to make the best impression possible on potential home buyers. But, just to have a little fun, say you don't want to sell your property. What could you do to discourage those who view your home? Well, you could have your pets in the home during viewings. That will certainly make it uncomfortable for some buyers – especially those with pet allergies. You could also leave personal items around, such as family pictures and trophies. That will make it more difficult for a buyer to imagine himself and his family living there. It might even make him feel a bit like an intruder! Clutter in bedrooms, closets and other areas of the home will make those spaces feel less spacious than they really are, as well as make visitors feel uncomfortable. If you really want to turn off a buyer, then put off doing any minor repairs. A dripping tap, flickering light, dent in the wall, or other maintenance issues are c...

As summer approaches, the outdoors beckon with images of casual entertaining in the open air and afternoons spent by the pool or gathered around the grill.  At this time of year, buyers shopping for a new home will shift their attention to outdoor living spaces.  If you are hoping to sell your home this summer, consider the following popular design trends in order to boost the allure of your backyard oasis: Low-maintenance, drought-resistant landscaping: with several Western states facing a serious drought, homeowners across the country are trending towards sustainable plants that are native to the region. Many are even replacing grass with artificial turf, the pinnacle of low-maintenance landscaping. These options are a win-win situation for the environment as well as your budget. In keeping with the sustainability trend, homegrown edibles, including fruits, vegetables, and herbs, are increasing in popularity. If...

What do you do if you’re financially responsible, but don’t have a credit score? How do you get started on the path to home ownership if your score is low due to traditional credit reporting? FICO believes it might have the answer. (Others think it might not.)  Here’s what you need to know. If you’re in the market for a home, you’re probably in the market for a mortgage. With the exception of all-cash buyers, most buyers will find out soon what their FICO score is and what banks think about it. The FICO score has a huge impact on whether or not lenders consider you an acceptable credit risk, and yet there are more than 53 million Americans out there who don’t have a credit score at all. This doesn’t mean they’re a bad risk, necessarily… it just means they haven’t used credit cards, held a previous mortgage, or had an auto loan. They may be perfectly responsible financial citizens. So how do they apply for a mortgage? In an attempt to broaden access, FICO has begi...

Do you have a renovation project in mind – and wonder how much value it will add to your home? Remodeling Magazine recently did a study of renovation projects, comparing costs to added value. Here are some of the results: Replacing a main entry door has a return on investment of over 95%. After all, the entrance to a home is one of the first things a prospective buyer notices. Adding a new deck also adds a lot of value. Depending on the materials used, you can expect to get back three-quarters of the money invested. Another high-payback project is the garage door. This once again demonstrates the importance of a home’s “curb appeal.” If you’re tackling a big project, such as a basement renovation, you’ll be glad to know that, according to the study, a project like this adds a lot of value. Finally, minor improvements to bathrooms and kitchens – such as adding new countertops or cupboards, can also be good investments that mostly pay back when you sell your home....