SUMMER VACATIONS ON A BUDGET

If you're like most folks who like to travel, you probably also need to travel on a budget. Traveling on a budget isn't impossible, but it does take some planning ahead and a little research to avoid wasting hard-earned dollars!

Real travel bargains do exist. Contact an airline reservation agent or travel agent to determine the lowest possible fare. You can lower the cost of the airline ticket considerably by including a Saturday-night stay-over. Check with your travel agent about the many package deals available. Here are some other helpful hints to consider before you travel.

• If you have a particular destination in mind, research the attractions and accommodations beforehand. Also, find out what specials or discounts they may offer.

• If possible, plan your stay for the off-season. You can usually get better deals on plane tickets, hotels, admissions, etc.

• If you have friends or relatives nearby, consider asking if you can stay with them. Even though you'll help pay for groceries and other expenses, it's still a good money saving idea.

• If you are flying, do so when tickets prices are traditionally lowest. Avoid flying on Friday afternoons as this is often the busiest time of the week for airlines.

• Meals can be expensive at restaurants so plan some picnics, too. These can be excellent money saving opportunities as well as a chance to really relax and enjoy the local area.

• When eating out, try to avoid places that obviously cater to tourists. Find out where the locals eat. The smaller family-owned places usually have better food at better prices.

• Stay at a hotel that's a little farther away from major attractions. With a little planning you can find a good balance between price and distance.

• When picking hotels, compare the amenities they offer. If you're not going to be using the indoor pool or gym, then why should you have to pay for it?

• When traveling by car, save fuel by renting a smaller fuel-efficient model.

• Have your car serviced before your trip. Check tires; get an oil change and/or tune-up. It's much more convenient to deal with these things before you go rather than in the middle of your trip.

• Consider using the local transportation system of buses, trains or trolleys. These are generally cheaper than using taxis.
• Consider taking a camping trip. Camping is a great money-saving vacation idea.

• Avoid over-priced souvenirs. Set some rules ahead of time about how much you will spend on mementos and stick to it.

• Plan and pack carefully. It's wise to make a list of travel wants and needs. Remember, it is very expensive to buy your necessities at vacation stores.

• Be sure you can afford to pay for your trip out of future income -- before you borrow to go on vacation.

• Remember, the cheapest seat on a train or airplane will get you there at the same time as the most expensive seat.

Tips for Planning a Vacation with Kids

Don't pack the day full of activities.

Younger children especially need opportunities to rest and recoup. Remember, a rested child = a less cranky child.

As children tend to have shorter attention spans, don't plan activities which are exceptionally long.

Ensure that the places you are visiting welcome kids, as some attractions and activities have age limitations, height requirements, etc.

WHAT YOU NEED TO KNOW ABOUT LOTS

When shopping for a new home, one of the most important considerations – yet one most people don't pay enough attention to – is the lot type. 

Selecting the right one can significantly increase your enjoyment of the home. Picking the wrong one can have the opposite effect.

There are three special types of lots that homeowners tend to find most desirable. Yet, even though they are considered desirable, each has its pros and cons.

Here’s the rundown on each one:

1. Cul de sacs

These are lots located on dead end streets that often feature homes positioned around a large circle of roadway. For obvious reasons, a cul de sac is a popular choice for buyers with children. There’s less traffic and, often, the only cars on the street are those of neighbors. However, homes on these lots often come with a higher price tag than other comparable properties in the area. But, from a lifestyle standpoint, that extra price may be more than worth it.

2.Quiet streets

Who doesn’t want a home on a quiet street? The benefits are obvious. However, don’t dismiss properties located on or near a busy street. They often sell for less and the noise from traffic might not be as bothersome as you might expect. In fact, some neighborhoods in these areas feature special soundproof fencing. If the home is otherwise ideal, schedule a viewing to judge the noise level for yourself.

3. Corner lots

These are often larger and therefore provide you with more space. Plus, with the look of two front lawns, there’s twice the potential for curb appeal, and therefore the opportunity to increase the property’s value. On the downside, kids may shortcut across your front lawn to get to the adjacent sidewalk! 

Want more tips on what to look for when shopping for a new home? Call a REALTOR® today!

TIPS FOR THE SUMMER HOME SELLER

Summer is traditionally an active time of year in real estate. Whether you’re buying or selling a home, find out what you need to know when the market’s white hot.

Spring kicks off the peak home hunting months of the year, but it isn’t until summer that things really get cooking. While there are pros and cons to buying and selling homes at various times throughout the year, summer can be, on average 25 to 30 percent more active than the annual average.

In summer you have a real mix of buyers and sellers… some serious and some not-so-serious. In the winter months, many buyers searching for homes would only do so if they absolutely had to. In the summer, there are often a larger number of buyers just toying with the idea. (Many of the serious buyers are eager to get settled before school starts in the fall.)

Selling homes in the summer requires its own brand of seasonal marketing and showing. Here are a few tips you’ll want to keep in mind as you invite buyers to consider your home:

1. Keep it cool, but don’t keep it dark. Your instinct may be to close the blinds and draw the drapes, but making your rooms feel dark and shut-in is counterproductive. Run the A/C and keep the air circulating. While your wallet may not appreciate the bump in your power bill, imagine how expensive it can be to keep the house on the market.

2. Stage it inside and out. Have a pool deck? What about a garden patio? Make them as inviting as you would the living room or kitchen. Stage them appropriately and tell the story of what it might be like to live with such nice amenities. Think magazine photo shoot!

3. Make the lawn sing. Curb appeal can be king in the summer months, especially when the neighbors’ lawns may be looking a little brown by comparison. Find bright flowers that can withstand the heat and provide a high-contrast to your green grass.

4. Ride the sunset. With the longer daylight hours, you may have buyers who want to check out your home closer to dinner time, once the hottest hours of the afternoon have passed. Try and roll with the disruption… buyers prefer to see a home when the owners aren’t around. 

Take advantage of the summer sales activity! I'd be happy to guide you on the buy or sell side of this white hot market: valerie@valeriemcconville.com

ALL ABOUT HOME EQUITY LOANS

You have probably heard a lot about home equity loans if you have spent any time at all looking at home financing options.  

These are loans that are usually taken out by people who already own a home, and want to borrow against the value of the home.  

Not everyone can get a home equity loan of course, you have to actually have equity in the home, as well as the right credit situation.  

Home equity loans are a great way to finance major renovations on your house.

What Is Equity?

It's a term that is heard a lot, but for those new to the housing market, it might not be one you exactly understand.  It's quite simple, really.  The equity in your home is the difference between what you currently owe on it and the current market value of the home.  You can achieve equity in your home in two main ways.  The first is by paying down your mortgage.  The second is by increasing the value of your home, either through renovations you have done or a general increase in the market.

Loans Vs. Lines Of Credit

Along with home equity loans, you have probably heard about home equity lines of credit.  While they are very similar, there is one major difference.  A home equity loan is basically like any other mortgage loan.  You take out a loan for the value of the home, and then you pay it back.  When you have paid it off, the agreement is over.

A home equity line of credit is a little different.  It allows you to borrow money against the value of your home in much the same way, but after you pay it off, you can borrow the same amount again.  Think of it like a credit card; you have a certain amount of credit available, and when you pay off what you owe, you can charge more to the card.  A home equity line of credit offers you an ongoing credit line available for any need you might have.

Whichever option you choose, be careful not to borrow too high an amount.  Pushing what you owe on your home back up to the market value can be dangerous.  If there is a dip in the market, you could suddenly find yourself upside down on the home.  If you have borrowed the money to make renovations, however, your improvements can make up some of that difference, building even more equity.

CLEANING PROJECTS TO HELP YOUR HOME'S CURB APPEAL

Summertime and the living is easy, right? Well, don’t get too comfortable. There are some crucial home cleaning projects you should tackle in the good weather to help your home hold its value for the long haul.

Whether your home is two years old or a classic concrete block ranch from 1950, you can help your house hold its value and scream curb appeal with a few simple fair weather cleaning projects. Keeping a home in shape in a little like good dental hygiene… routine attention prevents major renovation!

With the sun shining, here are the top projects you should schedule before settling into vacation mode. Stay on top of these at least once a year and you’ll not only help your home shine, but you’ll fend off the threat of more costly repairs and replacements in the future:

1. Power wash. Blast off mold, oxidized stains, kicked up mud, and the grim insect life which can build up over the course of a year. This is good not only for your exterior walls, but also driveways, patios, and panel fencing (both sides, please!). If you don’t own a power washer, you can usually rent one affordably. Be careful with power washers, though, as they can also strip paint when dialed up and used improperly. If power washing isn’t your bag personally, hire someone with a track record to handle this wet-and-wild job.

2. Gut the gutters. Freely flowing gutters prevent a host of problems. Dig out the muck and you’ll be certain that water isn’t backing up under your roof or running down to the foundation. While you’re working, check the downspouts for cracks and corrosion. Be sure to run water through the clean gutters to see if there are any holes you may have missed while inspecting the clean gutters.

3. Wash the windows. This is an inside and outside approach, because if you want to maximize the light your house lets in, you need to get the panes from both directions. Start with the outside. While power washing can sometimes be harsh on window seals, using a hose with a green/garden safe cleaning fluid is a good way to start. Once you’ve take care of the outside, remove and wash any indoor window treatments (blinds, drapes) and do a thorough job with the glass. Some people like to use old newspaper as it makes an excellent eco-friendly alternative to rolls of paper towels.

4. Shore-up sheds and garages. Start by discarding. A year or even a season can result in piles of unwanted objects or half-used containers of questionable chemicals. Be ruthless in what you keep. Once you’ve identified the must-keep items, haul them out and clean the interior of the shed or garage. Replace items mindfully.

I love to sell clean homes! If you think your house is at maximum curb appeal, why not find out how much it’s worth? Get in touch: valerie@valeriemcconville.com

HOW TO BE A SAVVY HOME VIEWER

If you're planning on finding your next dream home, then you're probably going to view several homes on the market that meet your criteria.

You will want to make the right purchasing decision for you and your family.

So, it's wise to be savvy when viewing properties for sale. Here are some ideas on how to do that.

• Bring a notepad. Take notes, not only of the home's characteristics, but also of how you feel. For example, can you imagine yourself happily cooking up a storm in the kitchen? Do you see yourself entertaining family on the back deck?

• Bring a measuring tape. Will the furniture you plan to bring fit? Your dining room suite? Your home fitness equipment?

• Ask about maintenance. Is the property in a good state of repair? Will anything need to be replaced soon, such as the windows?

• Bring a camera. Take lots of pictures of the home's exterior features. Don't make the mistake of thinking you'll remember how everything looked.

• Check out the area. Do other homeowners take good care of their properties? This shows pride of ownership. How is the noise level? Is there a playground, or another area feature nearby?

• Make a list of compromises. For example, are there only two bathrooms instead of three and, if so, can you live with that?

• Make a list of bonuses. What features does the home have that, are not a necessity, but would be nice to have? For example, an entertainment bar in the basement recreation room.

• Remember your budget. Is the price within your range? Can you afford to buy this home?

The savvier you are when viewing properties on the market, the more likely you will be to find your next dream home.

BUYERS BEWARE: THE HIDDEN COSTS OF HISTORIC HOMES

There are many fine and pleasurable reasons for buying an historic home, but you definitely shouldn’t get into one without understanding the potential costs. 

Here’s what you need to know:

There’s much to admire about owning an historic home. You probably don’t need to be sold on the beauty of a grand old house, and in all likelihood the home is in an established neighborhood or district where prices are projected to appreciate at a better clip than other areas. 

Plus, if it’s truly classified as an historic home, and not simply an old house, you probably can take advantage of tax breaks other owners might not enjoy.

But before you fall in love with the gleam of summer light cascading through a century-old stained glass window, pause and consider what you’re really in for when you buy an historic home.

1. Lead, asbestos, and other buried “treasure.” Pipes and paint can be lead culprits while asbestos in basements, attics, and walls may be lurking. Also, it’s not uncommon for there to be abandoned septic tanks, cesspools, wells, or even heating oil reservoirs buried somewhere on the property. Remediation and removal can run into the thousands, should you decide to go that route.

2. Renovation restrictions. A truly historic home may be ineligible for certain renovations depending on preservation guidelines. Ownership of an historic home does not give you carte blanche to make changes, especially to the exterior of the property.

3. Wiring and plumbing problems. If the electrical system in the house hasn’t been upgraded, you might find yourself facing problems if you want to add significant appliances or other major power loads to the system. Older plumbing can also prevent formidable repair jobs as well.

4. Authenticity is expensive. The materials you’ll need to repair or restore original fixtures, windows, or other aesthetic components of the house can ad up quickly. While you may be investing in quality materials to keep the home in line with its original construction, it may not be an investment with a guaranteed return.

Perhaps you’re prepared for everything an historic home has to offer, both good and bad, but if you haven’t thought it through yet, these are some handy challenges to keep in mind. If you’re exploring historic homes, be sure to ask the current owners about all of these issues (and if/when they’ve dealt with them).

If you'd like to look at historic homes or think perhaps it's time to consider something a bit newer, talk to a REALTOR® today to help you find just the right house.

SHOULD YOU TAKE THE PLUNGE?

Swimming pools can add value to your home. But is it worth it? Remember the days when lounging by your parents pool was the coolest thing to do during the hot summer days? They are certainly fond memories. 

Many Americans still long for a dip in their own backyard pool – but does the cost of a pool match its long-term value? 

The truth is every homeowner is different and the perceived value of a swimming pool varies from one buyer to the next.

The Cost of a Pool

Although the cost will vary depending on where you live and how big of a pool you want, the Wall Street Journal reports you should probably budget between $25,000 to $50,000 for an in ground pool. The initial investment goes up from there when you add landscaping and fencing. Additional ongoing costs you should be aware of include an increase in home owner's insurance, a tax increase, maintenance expenses like opening/closing the pool and heating if applicable.

A Cool Pool Market

Experts say that pools add value to a home in neighborhood with a lot of pools. Even if you’re not in an area dominated with deep ends, the National Association of REALTORS® says that pools add 7.7 percent to the average home property value and more than 11 percent for homes in the Southwest U.S. The odds of recouping your money go up if you plan to stay in your home for longer than five years and you use it on a regular basis.

That being said, a swimming pool could limit your home’s selling power. Buyers with small children may see your home as an accident waiting to happen. Others may not want the annual maintenance fees, home owner’s insurance, and tax increase that comes along with the amenity.

Is a pool right for you?

Answer these questions as you embark on your research into pools.

Can you afford the annual maintenance costs?

Are you willing to invest in landscaping? Buyers want the whole experience of a pool which includes landscaping, patios, or other additions to the backyard.

Is there a community pool nearby? If there is, buyers may not perceive the pool as valuable.

Are you willing to take on the risk associated with owning a pool?

Are you going to live in your home for another five years?

Once you’ve asked yourself these questions, it’s smart to get an appraisers opinion and talk to a real estate agent familiar with your neighborhood.

WILL THE NEIGHBORHOOD GO UP IN VALUE?

When you purchase a home, you’re hoping it will continually go up in value — just like a good investment.

However, there’s something else that you want to see go up in value as well: the neighborhood. 

In fact, the neighborhood plays a key role in what the home will be worth in years to come. 

If the neighborhood goes down in terms of desirability, so will the market value of the home.

That’s why, when shopping for a new home, it’s important to get a feel for the value of the neighborhood, and whether or not it’s on the upswing.

How do you do that? One way is to simply take a walk. Look at the properties. Are they well maintained? Is the landscaping groomed and attractive? Those are signs of “pride of ownership” — a clear indication that owners value their homes and the neighborhood.

Another way is to do some research. Has crime gone up in the neighborhood? Are there improvements planned, such as new parks? Is the neighborhood attracting the kind of people you want as neighbors? How does the neighborhood school rank?

Some of this information may be difficult to get on your own. A good REALTOR® can help you. Call today.

TYPICAL REASONS SELLERS OVERPRICE A HOME

Sellers have a host of reasons why they remain attached to prices which are too high for the market. 

Here are a few of the most common and why they ultimately work against sellers.

All sellers want their home to sell for the highest possible price. This is one reason it’s why it’s so easy for agents to “buy” listings. If you’re not familiar with the concept, “buying” a listing is when an agent (unscrupulously) tells a client their home is worth far more than the market value in order to win the listing.

Sellers are susceptible to this tactic because they want to believe, however irrationally, that their home is for some reason or another worth more than comparable homes on the market. Sometimes, though, sellers believe high home pricing is either an acceptable risk or even a benefit. Here’s what they say, and why it’s a problem:

1. “I can always come down in price later if I have to.”

Yes, it’s possible that someone will find the house irresistible and pay the inflated price, but the odds are the house will languish on the market until the price comes down. Buyers, though, will see this from a different perspective. They’ll be thinking: What’s wrong with the property? Maybe I can get this house for significantly below market value. Holding out for a high could end up leading to a desperation low.

2. “I have to keep the price high for negotiating purposes.”

A house isn’t a used car. Don’t start far above what’s acceptable in order to pad out the negotiations. Buyers will have access to the same market data, and their agent will have a pretty good idea what the home’s true market value should be. The ruse will quickly come to pieces, so why not price right for a quick, fair sale?

3. “This is the price I need to get for my house.”

If that’s true, sellers should also prepared to stay put when the house doesn’t sell. Despite dire and important reasons why lower offers can’t be accepted, the market is indifferent to the seller’s situation. There are other homes and other sellers unencumbered by the same reasons.

4. “A house just like mine sold for this price… so why not mine?”

Sellers will assume houses are identical when the final price tells sweet story. Odds are there are other outstanding reasons the home sold above market value, especially when it comes to interior renovations.

I'm happy to give you an accurate valuation for your home. Let's talk. Visit my website at www.valeriemcconville.com then give me a call!

SHOULD YOU SELL FIRST AND BUY LATER? OR VICE-VERSA?

When you’re thinking of selling your home and buying another, you face the inevitable question: Should I list my property first or buy my new home first?

Let’s take a look at both options.

If you attempt to buy a property before listing your home, you run into a couple of challenges.

First, sellers may not take you seriously as a potential buyer. After all, you haven’t put your own home up for sale. As far as they’re concerned, you might merely be testing the market.

Second, your property might not sell as quickly as you thought it would. If there is an early closing date on the home you purchased, you might end up owning, and paying a mortgage on both properties, at least until your home sells.

If, on the other hand, you list your property before buying a new home, sellers will know you’re serious. That puts you in a competitive position in the event of multiple offers.

Also, if your home sells quickly, you’ll have the peace-of-mind of knowing exactly how much of a new home you can afford. You’ll be able to shop with confidence.

Of course, like the first option, there is a chance that the closing dates won’t match and you’ll end up owning two properties for a period of time. However, solutions such as bridge financing are available to help.

So, there is no perfect answer. A lot depends on the state of the local market.

Looking for a good REALTOR® who can help you decide which is the best move for you?

Call today!

Visit my website at: www.valeriemcconville.com!