Posts Tagged ‘home remodel’

Simple courtyard makeover makes it look like new

Wednesday, September 1st, 2010

I was confronted with a small 12′ x 12′ courtyard for a guest cottage that had a lot of issues — not the least of which was extensive dryrot and various paint colors in the wood fencing that surrounded it. The purpose was not home staging for resale, but rather to simply make it more aethetically pleasing. The courtyard was not inviting and so it was never used. It was full of debris and pine needles from the surrounding trees, lots of assorted potted plants in various stages of neglect and decay, spider webs, etc.

Nevertheless, the cottage and courtyard really have a lot going for it. It’s part of a historic Spanish-style home. The cottage itself is quite cute, and the floor of the courtyard is of a lovely old brick. Very desirable in many ways, but the privacy/containment fence around it stuck out like a sore thumb. something had to be done, but without spending much money. A big home remodeling project was not an option at this time.

So, besides cleaning it up, uncluttering it, and adding a used iron patio set (with a fresh coat of black spray paint) and a matching bench, I really needed to do something about the mish-mash wood fence.

Well, I love the pre-made bamboo fencing that is readily found at home improvement stores like The Home Depot. It comes rolled up in different heights and lengths, and with various diameters of the bamboo shoots. I have found a wide variety of uses for it, including a makeshift floor over dirt or to provide a decorative pet barrier or containment fence.

For the purpose at hand, I used some 6′ height rolls in 8′ lengths, and wired them against the existing fence. As you can see in the photo, it worked really well for this application — as a temporary aesthetic facade over a mish-mash courtyard fence.

Longer term, the existing fence really needs to be torn down, fumigated, and rebuilt … but not today.

Seek simplicity, comfort, and value!

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Is the housing market done falling?

Tuesday, March 23rd, 2010

I came across an article from The Market Oracle in the U.K. that talks about the U.S. housing market, current values, supply and demand, and whether the government can really prevent prices from falling further. Here’s the link:

http://www.marketoracle.co.uk/Article18090.html

Here’s a snippet that summarizes his main point:

“… With the housing market at the center of the credit crunch, any recovery in the housing market could quickly turn the Wall Street recovery into a Main Street recovery. Consumers would start shopping again. Employment would rebound. And stocks would likely make the next move higher. But we’re coming out of a genuine bubble decades in the making. And decades of overinvestment creating oversupply are rarely worked off in a couple of years … Now, we know the government has done everything it can to prop up the housing market. From tax credits to the Fed buying mortgage securities, no price has been too high. [But] the housing bubble was just like any other bubble. Prices must fall to a point where all the excess supply will be bought. All the costly government efforts have merely been delaying the inevitable ….”

In effect, he doesn’t think housing prices are done falling — he thinks it could fall another 10% or more — so it’s not a “safe” investment.

Relevant to our ongoing discussion about remodeling to increase a home’s value, he goes on to say, “… In the post-housing-bubble world, consumers look at what they can afford, not how much they can ‘flip’ a house for or how much equity they’re going to get while only paying interest on their mortgages … That’s why we have to look at what really drives housing prices in a normalized housing market: income, rental rates, and interest rates ….”

So, for those who are trying to sell a home, or for those who still want to buy a house as a turnaround project (“flip”), the main point I take away from his analysis is that, more than ever, you must make your home stand out from the crowd. I think you can still make money on a house project in many areas if you spend wisely and create a highly desirable home that buyers want more than the comparables and for which they are willing to pay up.

With this challenging objective in a difficult market, there is much that can modernize and enhance the look & feel of a home without having to spend a lot of money on major remodeling or adding square footage. Start with curb appeal, floors and paint, then move to kitchens and baths. An impressive front door helps alot. New faucets, fixtures, and appliances can do wonders, too. Above all, homeowners must focus on cost-effective, high-value-added projects.

You know my motto:Seek simplicity, comfort and value.

Be sure to download my free report, “Home Remodeling Success Secrets: Essential Tips Before You Buy, Sell, or Remodel a Home,” by filling in the opt-in box

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Choosing paint for your home interior? Here’s a great web app

Tuesday, February 2nd, 2010

If you are considering painting a room…or perhaps your entire home interior, I came across a really useful web application that can help you visualize how a particular room would look with a variety of possible wall colors. And best of all, the web app is free.

You can upload a digital photo of a room into the program. Then, selecting from the entire palette of available colors, you can digitally paint the walls of the room to see how it would look.

It’s a great little program. And it should help you avoid multiple trials and repainting while you search for just right color for each room.

Just look for the sign up box on my home page, enter your name & email address, and I’ll send you a link to this unique and valuable little tool.

http://TransformYourHouse.com

Seek simplicity, comfort, and value!

Laura

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Tax credits for home buying & remodeling

Friday, November 27th, 2009

Now might be a good time to review the tax credits that are available for home purchases, move-ups, and remodeling projects. Note that a tax credit is a direct dollar-for-dollar reduction to your income tax bill, as opposed to a tax deduction, which merely reduces your taxable income.

The first-time home buyer $8,000 tax credit has been extended through April 30, 2010. (However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 still qualifies.) Keep in mind, “first-time” doesn’t really mean that you can’t have owned a house before. The IRS defines a first-time home buyer as someone who has not owned a principal residence during the 3-year period prior to the purchase. There are a few caveats on the tax credit:

  • It must be repaid if the home is sold or ceases to be used as the buyer’s principal residence within 3 years after purchase.
  • It’s limited to 10% of the home’s purchase price up to the maximum $8,000.
  • Applies only to homes priced at $800,000 or less. 
  • As of November 7, income limits have been increased. Single taxpayers with incomes up to $125,000 (previously it was $75,000) and married couples with incomes up to $225,000 (previously it was $150,000) qualify for the full tax credit.
  • For those who don’t qualify as “first-time” home buyers, a $6,500 credit for repeat or move-up buyers is available. You must have owned and lived in your current home for 5 consecutive years out of the last 8. All the other caveats above apply (except of course that the limit is $6,500).

    For homeowners who want to remodel, the 2009 economic stimulus bill greatly upgraded the pre-existing tax credits for energy-efficient (“green“) home improvements on a principal residence, and extended them through the end of 2010. The tax credit was increased to 30% of qualifying expenses up to a maximum of $1,500. (However, the $1,500 applies to all improvements combined for the 2009-2010 period.)

    Certain home improvements are considered to be so important that they are not subject to the the $1,500 limit. These include fuel cells, geothermal heat pumps, solar water heaters, solar panels, and wind energy systems. You can get a tax credit on 30% of the cost of these items, with no upper limit, for existing homes and new construction through 2016.

    I’m not a tax advisor, so be sure to verify all of this before you launch into something!

    Visit my full blog at http://LauraMartindale.com.

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    Seek simplicity, comfort, and value!

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    An opportune time for home remodeling

    Sunday, November 1st, 2009

    One of my blog readers sent me an email the other day with some interesting points. He started by saying, “After teaching real estate development at the MBA level for 7 years, I came away convinced that one of the most valuable lessons of the class was to treat  their personal residence as a real project and also to factor into the process the lifestyle implications of the individual purchase options….”

    Of course, this is the basis underlying everything I talk about on my blog and e-book. Whether or not you plan to sell your home in the near future, you should always think in terms of resale impact–as well as personal enjoyment–whenever you are considering home improvements, remodeling, or simple home makeover projects. 

    My reader and I also agree that today’s economy and depressed construction and remodeling industries are offering homeowners a real opportunity to make value-added home improvements at prices that are perhaps 25% below what they were just 2 years ago, and probably much less than they will be in 2-3 years from now.  It’s also a great time to refinance. 

    So, if you have been considering launching home remodeling projects, either for increasing your home’s value or for simply updating it for your own enjoyment, now might be the opportune time. But don’t jump in willy-nilly. Take the time to prepare. Get consultations and bids from reputable contractors (your friends & neighbors might have some referrals). See what you can learn online. Use resources like my blog and e-book to help you avoid problems, gather ideas and direction, identify green ideas to incorporate, decide what you will do yourself (DIY) or contract out, and learn tips on negotiating an appropriate agreement with your contractors.

    Visit my full blog at http://LauraMartindale.com.

    Follow me on Twitter! http://Twitter.com/LauraMartindale

    Seek simplicity, comfort, and value!

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    Should you install a home swimming pool?

    Sunday, September 20th, 2009

    As we end another summer and start thinking about home remodeling projects or other upgrades we might make to our homes before next summer let’s talk about swimming pools. They are the subject of much disagreement and scrutiny.

    I have found that most real estate agents will recommend that you do not install a pool, especially if you have any intention of selling the home in the near future. And as a rule, a pool indeed eliminates more prospective buyers than it creates, plus it requires a lot of upkeep and introduces liability.

    In fact, it can be a severe detriment to the value of your home if it is too simple, uninspiring, poorly conceived, poorly designed, or poorly situated — such as if you have a basic kidney-shaped concrete & plaster pool plopped down in the middle of a small yard with a plain cool-deck and an ugly 5-foot toddler fence around it. It might work out great for you, but resale value can suffer.

    However, if done tastefully and creatively — creating a soothing, clean waterscape incorporated into your indoor/outdoor living areas without overwhelming everything else — I think it works well, and perhaps even offers a substantial boost to the value of your home in the eyes of the niche buyer. Make your pool an attractive water feature to help balance your property, and ensure there are various views of it from the house. (Remember, a pool view can be quite desirable at a vacation resort, so make it the same for your home.)

    If you already have an older pool, make sure it is (and looks) well-maintained, e.g., clear water and no stains or chips. If it is severely stained or if the plaster is chipped, consider an acid wash or re-plaster job.

    As I have said before, you always need to think in terms of resale, even if you have no intention of selling the house anytime soon. After all, for most people their home is the largest investment they have. I know many people who don’t like to look at their home as an investment — it’s where they live, and that’s it. But particularly in high-housing-cost areas (despite the big downturn in prices), the home is usually the family’s most valuable asset. I talk a lot about this in both my free special report and my e-book

    Backyard free-form swimming pool & spaIn high-cost areas like coastal California, a $50,000-100,000 investment in something Black-bottom pool & spalike a decorative swimming pool/waterscape as an enhancement to your outdoor living area might be worthwhile. Shown are pools from two homes I have remodeled.

    Seek simplicity, comfort and value!
     

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    For high-impact home remodeling, seek simplicity, comfort, and value

    Sunday, August 9th, 2009

    I’m going to take a moment today to review the underlying basis for all of my home makeovers and remodeling projects.

    You always need to think in terms of resale, even if you have no intention of selling the house anytime soon. After all, for most people their home is the largest investment they have. I know many people who don’t like to look at their home as an investment — it’s where they live. But particularly in high-housing-cost areas (despite the big downturn in prices), their home is a family’s most valuable asset.

    With this mind, you must think in terms of maximizing the value of your remodeling and home improvement projects. I talk a lot about this in both my free special report and my e-book

    The overall price levels of an area will impact the amount of money and the types of upgrades you might want to pursue, depending on your goals, e.g., immediate resale, longer-term resale, or strictly personal enjoyment. For example, you wouldn’t invest $50,000 to replace all the floors with 3/4-inch hardwood, or $100,000 for a fancy swimming pool, if comparable homes in your area sell for $250,000–you simply won’t get your money back.

    But in high-cost areas like coastal California, where prices for even modest homes can easily surpass $2 million, a $50,000-100,000 investment in something like a decorative swimming pool/waterscape as an enhancement to your outdoor living area might be worthwhile.

    But no matter where you live, many great ideas can be carried out quite inexpensively (by any measure). In fact, some of my favorite improvements have involved, for example, a fresh coat of paint that I did myself, sandblasting and staining the front door, an antique chandelier found in the classifieds, a sofa set from Craig’s List, or Saltillo tile flooring–which is used in many of the finest Spanish, Southwestern, and Mediterranean-style homes but can be bought for as little as a buck per 12-inch tile.

    My personal design credo is: Seek simplicity, comfort and value!

    Simplicity means muted neutral colors, bright, open, airy, spacious, and uncluttered. Comfort means designing for function, usability, and durability rather than purely for style. And Value means cost-effective quality, i.e., always seeking good quality for a reasonable price.

    If you keep this simple phrase in mind, it will go a long ways in helping you to dramatically & affordably transform your house.

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    Staging a home for comfort, proportion, ambiance

    Saturday, July 25th, 2009

    Here are a couple of pictures from a home I just staged. The house is pretty upscale, in a good neighborhood, but the rooms are somewhat small. So, I was concerned about the size of my furniture.

    Home Staging - LRHome Staging - DRSo, I tried a few configurations — first including two identical white slip-covered sofas across from each other, but it was like a sea of white. So, I made room for the big screen TV in the corner and brought in another sofa of mine as shown under the eye-catching zebra print, and its contrasting color and texture actually worked out much better. If you look closely, you can see my big Mexican door-turned-dining-table-turned-coffee-table. Turned out it wasn’t too big for this room after all, despite my initial concerns. (It’s a great piece — very versatile.) Overall, this is a very cozy, comfortable living space.

    The dining room furniture fits the space well, too. The dark-stained wood contrasts nicely with the light pine floors. Note also the iron bar stools in the background. The picture of the dining room was taken from the living room shown above, so the credenza behind the couch provides a nice separation between the living & dining areas while preserving the open-flow of the space, including the kitchen area to the right behind the bar.

    Overall, this is a really comfortable home – nicely showcased and enhanced by the “right” furniture. As I often say, furniture can make or break the presentation of a home. It might make a nice space seem cramped, cluttered, or dark, or make a small space seem open and cozy. In this case, it made a relatively small but attractive space absolutely perfect.

    Seek simplicity, comfort, and value!       r7ey4k36fc

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    Donating 50% of home remodeling ebook sales to a fund-raising campaign

    Friday, May 1st, 2009

    Hey, here’s something of a news flash for you. I’m helping my husband’s old Sigma Chi Fraternity chapter (Beta Phi) at the University of Arizona raise money for their new house.

    Here’s my idea. As you know, I recently released the latest edition of my comprehensive e-book on affordable home remodeling & makeovers. So, as a promotion through May 31, I’m going to donate 50% of sales to the capital campaign for their new house. My husband and I are going to try to take my book viral through organizations we belong to, so if you haven’t yet bought the e-book, please consider doing so! You’ll help a great cause.

    Just about everyone who owns any kind of house (or is thinking about buying one) can benefit from the tips, hints, design ideas, and example projects I provide to help you succeed in transforming your house without major remodeling. I reveal my Top 5 High-Impact Projects to dramatically & affordably increase the value of your home, as well as the 3 Critical Steps for Success in planning a remodel. There are tips on tax planning, dealing with contractors, and staging a home to sell, plus advice on whether you need to hire a Realtor. You’ll find information to help you plan, avoid mistakes, and save money. And it includes special chapters from two celebrity guest contributors — friends of mine who are prominent in their fields:

    Kevin Contreras is the host and executive producer of Building Green TV on the PBS network. He is an old friend from our college days and has become quite prominent in the green construction movement. In his chapter of my e-book, he provides some fantastic tips on green remodeling, resulting in a home that costs less to operate, is healthier to live in, and has less impact on the environment.  

    Mark MacKenzie is a Sigma Chi alum who runs a real estate brokerage and information firm in Phoenix, and he is the author of the Amazon.com #1 best-selling real estate book, Marketopoly, and he has another book due out soon called, It’s the Housing Market, Stupid!  In his chapter of my e-book, he provides some great information on housing market trends, timing the market for maximum profit, buying low, selling high, etc. It’s a great read, especially for someone who is looking to be an investor in this difficult market.

    To learn more, visit: http://HomeMakeoverIdeas.com

    Please pass this message along to anyone you think would be interested. Help spread the word through a viral marketing campaign!

    P.S., Here’s another idea. I am currently offering a generous commission to affiliate marketers through ClickBank. It takes about one minute to sign up as an affiliate, and ClickBank pays you a 75% commission on every sale of my e-book. You can do whatever you like with that commission. So, consider becoming an affiliate marketer — it’s easy.
    Visit http://TransformYourHouse.com/affiliate.html

    There’s also a link to a great video tutorial program on Internet marketing and affiliate marketing tactics. It could even make a nice summer project for a teenager in your household (more instructive and potentially lucrative than a summer job).

    Seek simplicity, comfort, and value!

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    Contingency issues in a home sale

    Tuesday, April 21st, 2009

    I was talking with friends of mine the other day who have been looking for the perfect house and property to renovate and turn into their dream home. They have been looking for quite some time, and they are in no hurry. The buyer’s market we are in makes this workable for them, since there is rarely any pressure from other buyers competing for the same home — particularly when it comes to the types of major fixer properties at the high price end that they are focusing on.

    They found a home that needed a lot of work, but was on a terrific property for all that they had planned. As it approached the end of their contingency period for completing all inspections, they were finding lots of problems with the house, including severe mold problems. So, they asked for a further extension to the allowable contingency period, but the sellers refused, and they fell out of escrow.

    Now, I have two points to make here from the perspective of each party. First, for the buyer, if you are planning on doing major renovation or even a tear-down, there might be little need to perform elaborate inspections unless you are planning to salvage most of the home and try to make it work. Second, for the seller, unless you have other buyers hanging around hoping to see your escrow fall out, you should be as cooperative and nurturing of your buyers as you can be. Of course, if it drags on for months, it just might be best to serve a notice-to-perform upon the buyer and risk falling out of escrow, since alternative buyers are reluctant to look at a house that is listed as “sale pending” or “in escrow.”

    I had a house once that went through a couple of escrows. During the first one, the house sailed through the contingency period with no problem, but we had accepted a contingency on the sale of the buyer’s existing home, which was not selling (and they were unwilling to drop the price). After a few months, with no end in sight, we served them a 72-hour notice-to-perform, and they elected to drop out of escrow. Then, we entered escrow with a new buyer who got hung up on more contingency inspections that I have ever seen, and when all was done and the contingency period was ending, the buyer was so nervous about signing off on contingencies that we almost had to serve a notice-to-perform once again. However, the buyer ultimately came around – one day past the contractual deadline.

    A key point to make here is that the buyers must be sure that they are not wasting everyone’s time in a contingency period that they know is doubtful. Drop out of escrow as soon as you know it’s not going to fly. Desperate sellers do not need the added burden of having their home off the market and tied up in a hopeless escrow. And the seller should not jump into an escrow too quickly without being completely comfortable that the buyer is sincere about the property. Also, the seller should try to avoid a sale contingency when dealing with a buyer, if at all possible. (If necessary, it might be better to be willing to carry part of the mortgage, at least until their property sells.) 

    In any case, it’s always important for a seller to be cooperative and helpful with the buyer, no matter what the market conditions, but it’s especially critical in this difficult housing market – in which a buyer has a wide selection of homes and many eager sellers seeking their attention.

    Seek simplicity, comfort, and value!

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