28 Sep 2018
By Kevin Gahagan

It’s Pumpkin Spice Season: Plan A Neighborhood Potluck

Real Estate

It's Pumpkin Spice Season Plan A Neighborhood PotluckFall is the time to get back into a comfortable routine, but it’s also a great time to incorporate social events into weekend work parties, and gather friends to offer neighbors a helping hand — or just moral support — to spruce up their property.

While building a new sense of community may be a side effect, it can’t be denied that giving homes in need of minor repairs a little TLC is good for the dollar value of the neighborhood as well as for the soul. REALTORS agree that the overall appeal of a neighborhood adds value to individual homes.

Police departments and security companies also note that cohesive communities are less prone to crime than neighborhoods where residents don’t really know one another.

A Community Work Day

While it’s not uncommon for some subdivisions to sponsor periodic get-togethers, or hold multi-family garage sales and social events, the idea of a day to share work and expertise to tidy up individual homes is less common. But it represents an ideal solution for residents who could use a helping hand to accomplish minor upkeep and repair projects.

Especially if you live in a neighborhood with some older residents, planning a coordinated “home improvement day” can be a unique and wonderful way to bring different generations together. Community work days are a great way to complete seasonal maintenance projects before the weather turns bad. It’s also a way to make light work out of required tasks and to have some fun as well.

Here are some ideas on how to do it right — the results can be greater than expected.

  • Talk the idea up with your neighbors: Set a tentative date and divide up the planning tasks.
  • Start a checklist of neighborhood skills. Chances are you’ll find engineers, carpenters, painters, and neighbors with plumbing and electrical skills among the residents. And there are also apt to be artists and craftspeople, master gardeners and children who love to rake leaves or pull weeds!
  • Plan block party, potluck dinner or homemade ice cream social for the culmination of the workday or weekend, and get as many people as possible involved.

A weekend work project is reminiscent of old-fashioned barn raisings. It’s also a way to build a new sense of community, as well as to add neighborhood appeal and value. The food and the fellowship are bonuses!

There are, however, some cautions: Help should be freely offered, and readily accepted. But leave costly or complicated repairs to professionals. This kind of event should be strictly for easy DIY labor needs.

Done right, this kind of ongoing community effort can become a lasting and honored tradition. It’s worth a try, right? In the end, the entire neighborhood wins.

If you are interested in buying a new home or refinancing your current property, contact your trusted mortgage professional to find out about current financing options.

 

 

25 Sep 2018
By Kevin Gahagan

Common Misconceptions About House Flipping

Real Estate

Common Misconceptions About House FlippingReality TV shows have energized everyday people to dive into the real estate market and make money flipping houses. The dramatic presentation and profitable end results make the industry seem like a sure thing. But house-flipping, like any industry, has its share of challenges.

Television often props up ratings by showing industry pros overcoming adversity and getting a big win. But reality, unlike Reality TV, is filled by behind-the-scenes unknown obstacles. While house-flipping has emerged as a viable niche profession, these are some of the common misconceptions entrepreneurs may want to consider before wading into the business.

Perfect Properties Are Available

On television, the home-flipping team often settles on that perfect property that will yield amazing results. It’s important to understand that’s a Hollywood formula designed to improve viewership.

In reality, the perfect home is like finding a unicorn. Most flipping projects deal with less-than-perfect properties. What remains important for home-flippers is that the property enjoys structural integrity and the basic elements are in place.  

Projects Run On Time

Watching a home-flipping show makes the process seem quick and easy. After all, many of the shows run between 30 minutes and one hour. Your project time will be considerably longer.

Starting with a listing search through the initial buy, even industry insiders spend months securing a property. After that, the permitting process can be onerous and renovations are commonly met with unforeseen setbacks. Whether you discover mold behind walls or structural issues, remodeling generally experiences delays. Once you get everything copacetic, inspection waiting periods can be excessive. Projects rarely run on time.

Construction Budgets Are Just Math

Watching a TV personality whip out a calculator and add up remodeling costs makes it look simple. There are square footages, materials, labor and other tangibles. Home builders and remodeling professionals are quick to dispute such simplicity because too many “intangibles” exist.

Consider replacing the clapboard on the exterior of a home. One might expect to calculate the square footage and order an equal amount of material. But an experienced contractor might tell you to start by ordering an additional 10 percent to account for waste. That’s because a percentage of material that gets cut might not be reusable.

After accounting for that 10 percent, add another 10 for human error. Many types of clapboard require builders to set the commercially-cut end to the interior only. When inexperienced workers make erroneous cuts, increased waste can be produced. This theme runs across a variety of materials and other aspects of construction. It’s unlikely your crew will be filled with 25-year veterans. Mistakes are more common and costlier than you might expect.

ROI Can Be Measured Accurately

Beginner home-flippers tend to look at the cost of the property, add updating costs and the average market value of similar homes as the basis for determining return on investment (ROI). But selling prices can be more fickle than one might expect.

Today’s home buyers are looking for certain things from newly renovated properties. The math no longer amounts to adding total rooms, bathrooms, square footage and location. While the country is in the midst of a seller’s market due to a significant inventory shortage, home-flippers would be wise to calculate ROI based on a sliding scale.

If the property lacks the conveniences favored by Millennials or other groups buying up homes, it could sell for less than expected. That’s another reason why home-flippers are wise to enlist the guidance of a local real estate professional to gain a reasonable grasp on home trends and pricing.

Don’t forget to calculate in the costs of financing your project. Most often, people utilize a lender to help carry costs. It’s important to meet with your trusted mortgage professional to find the best terms for financing prior to starting your new endeavor.

07 Sep 2018
By Kevin Gahagan

Creative Storage Tips When Downsizing Your Home

Real Estate

Creative Storage Tips When Downsizing Your HomeDownsizing at any stage of life can offer multiple benefits. Less square footage may come with a smaller price tag and usually means less space to clean. However, when downsizing a home, there’s usually the question of what to do with everything. That’s when creative storage ideas become essential. 

Before Downsizing, Take Stock

Before selecting the best storage options, it’s important to first take stock of all personal items, from furniture to clothing, kitchen gadgets, and keepsakes. Sort into items to keep, donate, discard, and place in long-term storage. Long-term storage may mean investing in a self-storage unit to hold things like seasonal decor. Less stuff can mean less storage space needed in a smaller home.

Maximize Closet Space

It doesn’t need to be a walk-in closet to have the capacity to store an array of personal items. Maximize any closet’s storage space with a few tricks. Install a second tier hanging rod and rely on an expandable shoe rack to keep the floor clutter-free. Reduce the number of hangers used by layering outfits on a single hanger — blouse, sweater, and necklace or dress shirt, tie, and jacket. Store seasonal clothing, linens, and pillows in space-saver bags that remove bulk.

Rely On Under-the-Bed Storage

Even in homes with expansive square footage, under the bed often is an under-utilized space. Shoes, books, and other items are shoved out-of-sight, collecting dust and remaining unorganized. When downsizing, every space should have a purpose. Depending on the bed height, consider flat storage boxes ideal for clothing, blankets, and other items. Storage boxes with rollers can make it easy to access and act like an additional set of drawers.

Choose Space-Saving Furniture

The popularity of tiny houses and the number of people downsizing has created a boom of innovative space-saving furniture options. For the living room there are ottomans that open to reveal storage space for pillows, blankets, or video cases. Consider a couch with built-in drawers that slide out. In the bedroom, there are multiple bed choices that have built-in drawers and storage, perfect if the room doesn’t have dresser space. 

Open Shelves Provide Functionality Plus Style

Whether in the kitchen, bedroom, or main living area, open shelves offer great functionality in a smaller space while providing style to the home’s decor. Use them as storage for books, collections, and artwork. They’re ideal when there isn’t space for large bookcases or a coffee table. In the kitchen, open shelves can hold everything from dishes to glassware and potted herbs.

Whether you are looking to buy a smaller home or make modifications to your current home, your trusted home mortgage professional can help you navigate all of your financing opportunities.

 

31 Aug 2018
By Kevin Gahagan

Plant Now For Spring Beauty

Real Estate

Plant Now For Spring BeautyWhile the weather is still pleasant this fall, it can be a good idea to plan ahead for early spring blooms. Trim shrubbery, plant bulbs, install new edging or add whimsical garden accessories to assure that when spring rolls around you’ll have something attractive to look at. Getting creative now will boost your spirits when winter seems to last longer than it should!

Whether you want to beautify for your own enjoyment or spruce up your yard with the intention of listing a home for sale come spring, get a headstart on your goals by taking time now to plan for spring.

Plant Early Spring Flowering Bulbs

If you want a profusion of color in your early spring garden, now is the time to plan for it. Most flowering bulbs require ample in-ground time in order to thrive, so it’s always wise to check with a local nursery before purchasing specific varieties of bulbs. Gardening success depends on adapting to local conditions.

Seek out a qualified expert if you have little experience, and then plan to experiment until your garden grows just the way you want it to. In most areas, the first flowers to bloom include crocus and daffodils, as well as some varieties of tulips.

Plan Your Planting Beds

Depending on your locale, fall can also be a good time to plant new trees and and perennial shrubs. Again, it pays to ask questions and to plan ahead. Even if it’s not the optimal planting season, direct your efforts towards defining planting beds, soil preparation, and various hardscape elements. 

Cooler weather brings with it the chance to do some of the “heavy lifting” of landscape design: install brick or stone walkways, dry riverbeds, low stone walls, or decks and patios. By completing these tasks now, when spring arrives you’ll be able to concentrate on the fun parts of landscaping.

Plant an Edible Garden

Growing edible plants is a new trend: Not only are they generally easy to maintain, but the “fruits of your labor” are just as good to eat as they are to look at. A simple 4×4 raised bed garden can supply a wonderful variety of produce throughout the growing season and you’d be surprised as how they help create unique landscape appeal.

Some of the best crops for fall planting include cabbage, kale, broccoli, brussels sprouts and carrots. Even if you don’t eat them, they add a unique dimension to the landscape. Use showy cabbage along a garden path, and plant some carrots among heavier shrubs to create a lighter border.

Just remember that all growing things need a bit of tending to look their best. So be willing to spend a bit of time regularly in the garden — your plants will benefit from the attention, and you’re sure to enjoy it as well!

If you are interested in refinancing your current home or buying a new home, be sure to contact your trusted mortgage professional to discuss financing options.

22 Aug 2018
By Kevin Gahagan

Easy Decor Tricks That Make Any Home A Standout

Real Estate

Easy Decor Tricks That Make Any Home A StandoutIf your home’s style currently wouldn’t win any awards, there’s no reason to put off a redo indefinitely. With a little ingenuity and a few hours of time, it’s possible to transform a “Plain Jane” into a trendsetter.

Here’s how:

Paint and Pattern

Almost any designer will tell you that color is the best way to alter the character of a room. It doesn’t have to be dramatic; even a subtle change of tone, texture or pattern on a single wall can be a distinctive focal point. If your home lacks architectural detail, you might consider adding wood paneling to one wall or to the ceiling. It can be rustic or refined, and it will add instant appeal and point the way to further decor ideas.

If you don’t want to make major changes, hang simple fabric panels on a decorative rod to frame a window; or add color throughout a room with accessories — textured accent pillows, cozy throws, ceramic lamp bases or attractive woven baskets that do double duty as storage containers.

Framed Photographs

Create a gallery wall by collecting favorite vacation shots, art photographs or family portraits. Depending on your personal taste and your decor style, frame them similarly or create a lively display by interspersing other shapes and objects into the grouping.

It’s best to have a plan, however, before you start pounding nails in the wall. Create your wall montage by first laying it out on the floor or on a large table. Then take measurements and transfer the whole arrangement to your wall.

Family Memorabilia

If you have a variety of items that have special meaning, it’s best to display them or use them regularly rather than to hide them away. Furniture, china, antique clocks or kitchen tools, books — even old clothing or uniforms — can be attractive and impressive when grouped together and displayed.

You don’t want to create a museum in your home, but if you curate a collection with care, it can be meaningful and beautiful at the same time. Small objects are best displayed in some kind of case or on enclosed bookshelves. Furniture, however, can still be functional even if put to a use far different than was originally intended.

Sports Ribbons and Trophies

The rule is: If it has meaning to you, it’s worth showing off. So signed game balls, jerseys and team photographs, as well as the swim team trophy from college or the first place debate ribbon you won in high school should have a place in your home as well as in your heart. They can be as important in your life as your college diploma or your wedding portrait, and you wouldn’t dream of hiding them in a closet, would you?

Your home should reflect your personality, not the style sense of a magazine editor.

Unless, of course, you’re actively trying to sell the house. Then it’s best to pack away some of the personal items and contact your trusted mortgage professional for pre-approval financing on your next home purchase.